My food product cost including profit = Rs 472.00
40% added as distributor/wholesaler charges = Rs 472*40% = Rs 189
Total Product Cost after all charges or MRP to put on the product= Rs 472+189= Rs 661.00
Now, VAT is calculated on Rs 661.00 or Rs 472.00?
Request an excel spread sheet or with an detailed reply for the above query. Thanks!
CAclubindia
