why NBT charging 2.04%???

asked Feb 20, 2017 in NBT by Hashan Weerasekara
Why some of companies  charging 2.04 %  NBT?The NBT act saying it is just 2%.

1 Answer

+1 vote
answered Feb 20, 2017 by Dasun (380 points)
Act is silent whether it is collected from the customer or not and NBT is payable for the full amount before VAT. For instance if a company charges only 2% on Rs.100 bill, then the company has to pay the inland revenue 2% of 102 which is 2.04. That is why companies are charging 2/98 from the bill value. If you do not want NBT to be borne by you, then you should find another supplier who does not charge NBT from customers.
commented Apr 25, 2017 by Nidesh Dilusha (240 points)
For more details , refer "interpretations__rulings_book_-_set_i " Page 24 (sec51)

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