The price of any product and service includes, in addition to the cost price, various taxes. One of them is value added tax or VAT. It is primarily indirect, formed with each new operation on a product or service. VAT can also be defined as a specific form of contribution to the state budget. In order to correctly calculate VAT on goods and services, you can use an online calculator, but you can also try to figure out how to do this yourself.
It is necessary
calculator
Instructions
Step 1
See which category the product you want to purchase belongs to. This will help you find out the percentage of VAT, as it ranges from 10% to 20%. Products related to food, children's clothing, medicines and print media are subject to 10% tax. Agricultural products - 12% tax, and goods and services, as well as work that are not included in the previous categories - 20%.
Step 2
Take the original amount of the product and calculate the percentage from there according to the category of the product. So, for example, if you want to buy baby clothes, then we calculate 10% of the amount of the goods. This will be the amount of VAT. From the amount of 1000 rubles, 10% will be 90.91 rubles. So the cost of goods is about 909, 09 rubles and 90, 91 rubles will be tax. In order to calculate the percentage, the amount must be divided by 1 + VAT, that is, if the VAT is 10%, then 1000 is divided by 1, 1.
Step 3
Subtract the total divided from the total and multiply the resulting number by (-1). And if necessary, round the number to the nearest kopeck. Thus, it is determined that the tax from 1000 rubles will be 90.91 rubles.
Step 4
When calculating the amount of VAT on a product, multiply the cost of the product by a certain percentage, for example, when calculating the amount of tax on an item whose prime cost is 1000 rubles, and the VAT percentage is 12%, you will need to multiply 1000 by 1, 12. The resulting number will be the price of the product, taking into account VAT, and, in our case, will be 1120 rubles. It’s not that difficult, but it’s best to test yourself.
Step 5
Use the online calculator, it will help you and check the resulting amount, and will show everything accurately and quickly. This will help you, as it will be faster and easier than manually. There, you will need to enter the amount of goods, the value of VAT (in percent) and select the action that you want to do - select from the amount of VAT or, on the contrary, charge it on this amount.
