Value added tax is collected in united states (US) in the name of Sales Tax. The sales tax rate varies for the different states in the United States ( US). Select the state for which you have to find the sales tax price and rate and find the price with added tax and removed tax.
Value added tax is collected in united states (US) in the name of Sales Tax. The sales tax rate varies for the different states in the United States ( US). Select the state for which you have to find the sales tax price and rate and find the price with added tax and removed tax.
Find the VAT price and net price in United States (GST % is 4) for an amount of 25000 $
Solution :
GST % = 4
Amount = 25000
Step 1 :
GST Price = (25000 * 4 ) / 100
= 1000 $
Step 2 :
Net Price = 25000 + 1000
= 26000 $
Hence the VAT Price is 1000 $ and Net Price is 26000 $
Solution :
GST % = 4
Amount = 25000
Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 4)))
= 25000 - (25000 * 0.96)
= 25000 - 24038.46
= 25000 - 24038.46
GST Price = 961.54 $
Step 2 :
Net Price = 25000 - 961.54
= 24038.46 $
Hence the VAT Price is 961.54 $ and Net Price is 24038.46 $