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Net means after deductions, VAT is a form of tax, 17.5% in the UK. Net VAT should therefore mean before the VAT is added, as NET is the smaller amount, Gross is the larger.
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∙ 15y ago
ANTONIO JAROMAY
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What is the meaning of com and net?
In domain names .com = commercial .net = network
What does the acronym VAT stand for?
Its a tax that you pay with everything you buy, Value Added Tax, generally it is a percentage based on value of import. I have never heard the term apply for a hotel unless it's another kind of tax. Value Added Tax (VAT) is a consumption tax
What is the full form of V A T in vat 69 whiskey?
Vat is a name for a large container for brewing or boiling.
What is the Meaning of nav?
Net Asset Value (NAV) represents a mutual fund's per share market value.
What is the meaning of the sentence I want to be incurd?
It has no apparent meaning. The suggested correctly spelled version would be "I want to be incurred," which makes no grammatical sense because incurred is the past tense of the verb to incur, which is to acquire something undesirable, such as a financial liability (e.g. He incurred severe losses in the market crash).A further, also nonsensical meaning is that the speaker wants to be in a vat of sour or coagulated milk, as "I want to be in curd."
Gross of vat and net of vat?
There is no such term as gross of VAT. The amount with VAT is called the gross amount while the net of VAT is the amount after the VAT has been deducted.
Is net of vat is the same with vat inclusive?
vat exclusive
Does net of vat mean before vat is added?
Yes
How do you work out vat on a calculator?
From net figure: assume Vat rate=16% Vat amount=16/100*net figure from Gross figure Vat amount =16/116*gross figure
Does net sales include VAT?
Not according to direct.gov.uk "When someone charges you VAT they multiply the original ('net') price of the item or service by the VAT rate to calculate the amount of VAT to charge. They then add the VAT amount to the net price to give the 'gross' price - the price you pay." http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_4015895
Is vat tax included in the gross sales?
Yes. Gross sales = Net Sales + VAT
