Sales tax & vat on e commerce transactions
This query is : Open
Sanjeev Gangwar
(Querist)
10 March 2015
HOW THE VAT ANS SALES TAX IS WORKS IN ONLINE TRANSACTIONS LIKE FLIPKART ETC.
THANK YOU
THANK YOU
12 March 2015
When you purchase an item through the online vendors, they raise an invoice on you which contains both sale value and sales tax. Suppose you pay Rs.1000/- for an item, then the invoice may be in the format of :
Sale value Rs. 952.38
Sales Tax @5% Rs. 47.62
Total Value Rs.1000.00
Sale value Rs. 952.38
Sales Tax @5% Rs. 47.62
Total Value Rs.1000.00
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