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Message: <blockquote data-quote="batwise" data-source="post: 29431699" data-attributes="member: 575880">VAT Included Price = CIF + (CIF x 1.1 + current taxes) x 18% + current taxes <img class="smilie smilie--emoji" loading="lazy" alt="✅" title="Check mark button    :white_check_mark:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/2705.png" data-shortname=":white_check_mark:" /><img class="smilie smilie--emoji" loading="lazy" alt="⭕" title="Hollow red circle    :o:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/2b55.png" data-shortname=":o:" />️Let's take a solar panel as an example. Now It's a 0% tax import, from January, 18% VAT will be imposed on it. If a solar panel's CIF value (landing cost) is Rs. 100,000, the new price due to this VAT change will not be 100,000 + 100,000 x 18% = Rs. 118,000.It will be: 100,000 + (100,000 + 100,000 x 10%) x 18% = Rs. 119,800<img class="smilie smilie--emoji" loading="lazy" alt="⭕" title="Hollow red circle    :o:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/2b55.png" data-shortname=":o:" />️ So the effective VAT rate for this product is 19.8%, not 18%.<img class="smilie smilie--emoji" loading="lazy" alt="⭕" title="Hollow red circle    :o:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/2b55.png" data-shortname=":o:" />️ Depending on the other taxes (General, PAL, SCL, Excise, etc) imposed on a good, the effective VAT rate will be a few percentage points (1%-2%) higher than 18%</blockquote>

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