 |
| share your answers with comments! ! |
During a financial year, a shopkeeper purchased goods worth Rs. 4, 15, 000 and paid a total tax of Rs. 38, 000.
During the same financial year, he sold all the goods purchased as below:
i) Goods worth Rs. 50,000 at 5% tax.
ii) Goods worth Rs. 3, 20, 000 at 12% tax.
iii) Goods worth Rs. 45, 000 which are exempted from tax.
Calculate the tax liability (under VAT) for the financial year under consideration.
we would love to accept answers from educators
to help the students from worldwide.
