How to calculate NBT and VAT on turnover for distributors? Please check and confirm below calculation.

asked Jul 18, 2015 in VAT by Niroshan
with budget proposal 2015 if the turnover exceed 100 Mn per quarter for distributors they are liable for VAT and NBT.  we liable for these taxes. We have only a margin. Please advise how to calculate NBT and VAT on our turnover?

Please check following  calculation of taxes and confirm.
Example                           
Item 1 purchase value Rs 60.00 and qty 500. selling  for Rs 75.00                           
                           
                           
Sale Value          37,500.00      (75*500)                
                           
Revenue     88.29      33,108.11                    
NBT     1.80      675.68                    
     90.09      33,783.78                    
VAT     9.91      3,716.22                    
Total     100.00      37,500.00                    
                           
VAT payments                           
                           
Vat Out put     3,716.22      (33783.78*0.11)                    
Vat input     3,300.00       ((60*500))*0.11                    
                           
Payable to IRD     416.22      (3716.22-3300.00)                    
                           
NBT Payments                           
Payable to IRD     675.68                        
                           
                           
Tax effect to company Margins before tax                           
Item Name    Purchase Value     selling price before tax      Margin before tax     Magin % before  tax           
Item 1 ( 500 qty)     30,000.00      37,500.00      7,500.00     25%           
                           
                           
Tax effect to company Margins after tax                           
Item Name    Purchase Value     selling price after tax      Taxes         Total Tax     Margin after tax     Magin % after  tax
             NBT     VAT           
Item 1 ( 500 qty)     30,000.00      37,500.00      168.92      416.22      585.14      6,914.86     23%
                           
    (60*500)     (75*500)      (675.68*25%)     (Vatoutput-input)    (vat+nbt)

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