We are charging VAT without charging NBT on customers. So how we are going to pay NBT to IRD.

asked Jul 15, 2016 in NBT by M M D N Prasad
Sales Value - 5000.00

VAT - 11% -     550.00

Total Invoice - 5550.00

Should I calculate NBT on this and pay. If YES plz explain how with a caculation.

1 Answer

0 votes
answered Jul 15, 2016 by Vishan (3,610 points)
 
Best answer
You need to pay 2% NBT on  the sale value before vat. Ie.  5000*2%.

Whether you charge NBT from your customer is a decision upto you which has nothing to do with the payment.
commented Dec 20, 2016 by MMDNP
If we charge NBT from customers

Ex: Sales Value - 5000.00

      NBT            -   100.00

VAT                   -   765.00

Total Inv            -  5865.00

What is the amount payable to IRD as NBT

Is that 100.00

Or   (5100*2%)=102.00
commented Jan 2, 2017 by Rizkhan (100 points)
you have to pay for ird as nbt Rs.102 (Rs.5100*2%)

Therefore best suggestion to when you collecting nbt from customers you can use following calculation method to avoid bearing excess payment of Rs.2 (102-100) by you.

Sales 5000

nbt     102  (5000/98*2)   

VAT    765

Total  5867

Thank you

Rizkhan
commented Jan 2, 2017 by KDM (100 points)
edited Jan 3, 2017 by KDM
is it ok if we charge more than 2% from customers
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