Toll Free: 80004440824

Frequently Asked Questions on VAT

Last updated on 17 August, 2018


 Back to FAQ

What is the value of supply? How is it calculated?

The value of supply is the amount collected by the supplier for the supply of goods or services. It’s inclusive of expenses and charges that the supplier passes on to the buyer (such as shipping and handling charges). Simply put, the value of supply is the amount paid by the buyer, excluding VAT.

It’s calculated as follows:

Value of supply = Consideration (payment) - VAT

 Previous
Next 
Get your business VAT ready with Zoho Books, an easy to use accounting software
TRY IT FOR FREE

Source: