Salex tax at import stage

[alialiali]

VALUE FOR SALES TAX = IMPORT VALUE + CUSTOMDUTY
SALES = PURCHASE + PROFIT
AT THE TIME OF IMPORT GOV. RECIEVED SALES TAX ON PURCHASE 17%
& 2% SALES TAX AS ESTIMATED SALES TAX ON VALUE ADDITION (PROFIT)
IT MEANS THAT YOU ALREADY PAID INPUT SALES TAX ON PURCHASE (17%) & 2% SALES TAX ON YOUR PROFIT
SO THAT NO NEED TO PAY SALES TAX AT THE TIME OF SALES OF GOODS IF YOUR
OUTPUT SALES TAX EQUAL TO 17% + 2% VALUE ADDED TAX PAID AT THE TIME OF IMPORT.

SALES TAX BREAKUP PAID TO GOV.

SALES TAX ON PURCHASE RS. 125 @17% RS.21.25

VALUE ADDED SALES TAX @2% RS. 2.50
TOTAL INPUT SALES TAX RS.21.25+2.50 = TOTAL RS.23.75

CALCULATION FOR SALES PRICE.
INPUT SALES TAX 23.75 DIVIDED BY 17 MULTIPLY BY 100 = SALES VALUE
23.75/17*100= RS.139.70
YOU CAN ISSUE INVOICE TO CUSTOMMER ARE AS FOLLOWS

SALES TAX INVOICE FOR CUSTOMER
RS. 139.70 @17% RS.23.75 TOTAL RS.163.45

OUTPUT SALES TAX RS.23.75
LESS INPUT SALES TAX RS.23.75

SALES TAX PAYABLE NIL

THIS IS THE MINIMUM VALUE ADDITION

IF YOUR INVOICE MORE THAN RS.139.70 YOUR ARE LIABLE TO PAY MORE SALES TAX