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Discount and vat

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(Querist)
29 April 2014 Hi Experts,
If we have to sell a product of MRP Rs 1900 @ discount of 10% and VAT of 14.5%. Pls suggest what will the break-up look like.
Will it be same as
cUSTOMER TO BE CHARGED 1900-(1900*.1)= 1710

Tax (vat) --1900-(1900/1.145)=240

Unit Price= 1710-240==1470

Pls suggest if VAT will be reverse calculated on MRP or (MRP-Discount) value. Will be greatful if break-up for this calculation could be shared.

Regards,
Esha
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
30 April 2014 VAT is applicable on discounted price.
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Esha Dhingra

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Esha Dhingra (Querist)
30 April 2014 Sir,
Thanks for your reply. Pls confirm if in above case vat will be Rs216.55. its calculated on discounted value (1710/1.145)

Thanks,
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
30 April 2014 1710*14.5% = 213.15 = 214
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