UrbanPro

Take BCom Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

How do I calculate the amount of sales tax that is included in total receipts?

Asked by Last Modified  

Follow 0
Answer

Please enter your answer

Best tutor for Business and Tax

Its very simple, Just apply this formula sales tax=Amount of Receipt*tax rate/(100+tax rate)
Comments

Transforming academic dreams into reality with 100 % success rate.since the past 30 years.

Very simple. For example , if you sell a product for Rs100 and the sales tax on it is 10% , so the totoal billing is Rs110 . So you receive Rs100 as total receipt . Now 9% of the total receipt is your tax amount . So it is always 1% less than the tax amount . Hope it answers your question.
Comments

Amount (included sales tax) * sales tax rate / 100+ sales tax rate
Comments

Sales tax = (amount received * Rate of tax)/(100 + rate of tax). Eg. If total receipt is INR 110 and tax rate is 10% then Sales tax will be 110*10/110= , 10 I. e. Sale value =110-10 =100 And Tax = 10
Comments

CA-Inter Cleared (Accounting Technician Executive)

Go for Cross Muliplication
Comments

View 3 more Answers

Related Questions

What are the differences between BCom and BBA?
B.Com is an Academic Course, and BBA is a Professional or job oriented course. B.Com based only on theoritical knowledge but BBA is based on practical knowledge.
Agastya
0 0
5
What skills should a Bcom student build?
Financial skills, IT skills for softwares related to finance and accounts, Communication skills, Personality skills, Skills to develop confidence, Etc. Wishing you all the best.
Nishant
0 0
8
Can you tell me the straight line method to calculate depreciation?
(Purchase price of asset +installation & other exp relating to purchase of asset as per AS-scrap value/no. of years of its economic life of asset. Each year depreciation charged will be equal amount.
Prabhash
0 0
6
Related Topic : Econonmics What is Market Discrimination Explain Coub douglas function clearly with equation
The Labour Market Discrimination is defined as when equally productive human beings are treated differently due to some perceived personal characterstics. In simple terms a two human beings are equal in...
Subramanya

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons


Statistics
Measures of Central Tendency: There are three measures of central tendency that are: Mean: It is used to represent the average of the data. Median: It is used to represent the middle value. Mode:...

Corporate Challenges Of A Finance Professional Today: How to face it?
Dear Corporate Professionals, Past few decades the Global financial services industry and the accounting profession have undergone a sea change with the rapid globalization of economy where Financial...

GST News, Notifications And Announcements
Central Tax Notifications: Composition Scheme- Notification 3 & 8/2017: Composition scheme threshold has been notified to be 75 lakhs (earlier recommended only). This will be beneficial to small...
F

Section 4 Of Companies Act, 2013 Memorandum:
1. The memorandum of a company shall state: a. The name of the company with the last word “Limited” in the case of a public limited company, or the last words “Private Limited”...
K

Recommended Articles

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

Looking for BCom Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for BCom Tuition Classes?

The best tutors for BCom Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take BCom Tuition with the Best Tutors

The best Tutors for BCom Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more