(a) An importer imports certain goods of Rs. 100,000. No VAT was paid on it. The goods pass through importer to retailer before reaching to final…
BBS Taxation in Nepal · 2082 · Solved Question with Answer
(a) An importer imports certain goods of Rs. 100,000. No VAT was paid on it. The goods pass through importer to retailer before reaching to final customer. Additional packaging and administrative costs incurred by each Rs. 5,000. Profit charged by importer and retailer 20 percent on their cost price.
Required:
a. Cost price of the final consumer.
b. Total VAT to government.
(b) Define value added tax and it objectives.