Differences between VAT & GST with an example. Know How GST Works?
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The document outlines various tax calculations, including VAT at 5%, excise duty at 10%, and service tax at 15%, along with profit margins for manufacturers and consumers. It presents specific examples showing how taxes affect pricing and profit margins across different scenarios. Overall, it highlights the financial implications of applying different tax rates on consumer products.
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Differences between VAT & GST with an example. Know How GST Works?
- 1. VAT@ 5%=5 100 Manufacturer Exciseduty@ 10%=10 ProfitMargin@ 20%=23 VAT@ 5%=7 ServiceTax@ 15%=22 ProfitMargin@ 20%=33 VAT@ 5%=10 ServiceTax@ 15%=32 Consumer Manufacturer GST@ 10%=10 ProfitMargin@ 20%=22 GST@ 10%=13 ProfitMargin@ 20%=29 GST@ 10%=32 Consumer