VAT Calculation Formula

 

SL NO	TAX TYPE	FORMULA
1	Customs Duty(CD)	Assessable Value(AV)
2	Regulatory Duty(RD)	Assessable Value(AV)
3	Safeguard Duty(SGD)	Assessable Value(AV)
4	Countervailing Duty(CVD)	Assessable Value(AV)
5	Antidumping Duty(ADD)	Assessable Value(AV)
6	Supplementary Duty(SD)	AV+CD+RD+SGD+CVD+ADD
7	VAT	AV+CD+RD+SGD+CVD+ADD+SD
8	AT	AV+CD+RD+SGD+CVD+ADD+SD

 

VAT DOCUMENTATION

 

VAT FormS	Narration
VAT-2.1	Registration form for VAT &Turnover Tax
VAT-2.2	Registration form for Branch
VAT-2.3	Registration certificate for VAT & Turnover Tax
VAT-2.4	Cancellation of Registration
VAT-3.1	Registration of VAT Agent
VAT-3.2	Registration of  certificate of VAT Agent
VAT-3.4	Delegation power to VAT Agent by non- resident
VAT-4.3	Input- output co efficient declaration
VAT-6.1	Purchase Register
VAT-6.2	Sales Register
VAT-6.2.1	Purchase -Sales Register
VAT-6.3	VAT invoice
VAT-6.4	Invoice for contractual manufacturing
VAT-6.5	Goods  transfer invoice for centrally registered entity
VAT-6.6	Certificate for TDS/ withholding
VAT-6.7	Credit Note
VAT-6.8	Debit Note
VAT-6.9	Turnover tax invoice
VAT-6.10	Invoice data for purchase/sale over Tk. 2,00,000.00
VAT-9.1	VAT Return
VAT-9.2	Turnover Tax Return
VAT-11.1	Late VAT Return
VAT-11.2	Assessment order of VAT
VAT-13.3	Audit Report
VAT-18.1	VAT consultant license application
VAT-18.1ka	VAT consultant license

Computation of Taxable income from salary u/s-21

 

Computation of Taxable income from salary u/s-21 at a glance:

Description	Amount that will be added with salary
1.       Basic Salary	Full
2.       Dearness Allowance	Full
3.       Bonus	Full
4.       Commission and Fees	Full
5.       Advance salary	Full
6.       Arrear salary	Full , provided that it was not taxed in earlier years
7.       Leave Encashment	Full
8.       Approved Pension	Nothing, since fully tax free
9.       Approved Gratuity	Amount exceeding Tk. 2.5 Crore
10.    Annuity	Full
11.    Profit in lieu of salary	Full
12.    Profit in addition to salary	Full
13.    Education allowance for children	Full
14.    Employer’s Contribution to RPF	Full
15.    Employer’s Contribution to Employee’s life insurance policy	Employer’s Contribution to RPF
16.    Entertainment Allowance	Full
17.    Medical Allowance	10% of basic or Tk. 120,000 whichever is lower is exempted. The rest amount will be added with income. However , the limit for disabled employee is Tk. 10,00, 000 with some conditions
18.    Travelling Allowance	Unspent Amount
19.    Special Allowance	Nothing, if given and spent for official purpose
20.    House Rent Allowance	Actual allowance less exemptions of Tk. 25,000 p.m (Annually Tk. 300,000) or 50% of basic salary whichever is less
21.    Rent free Accommodation	Rental Value or 25% of basic whichever is less
22.    Accommodation at concessional rate	Rental value or 25% of basic whichever is less, minus deducted rent.
23.    Conveyance Allowance	Actual amount less exemption of Tk. 30,000 on an annual basis.
24.    Transport/Conveyance Facility	5% of Basic salary or Tk. 60,000 whichever is higher if full time car facility is given. Nothing will be added if it is given only for official purpose.
25.    Interest on RPF	Actual Interest less exempted to the extent of 1/3rd of salary.(here salary means basic and dearness allowance) or @14.5% whichever is less.
26.    Free tea coffee, or light beverage in official premises	Nothing
27.    Free dress, telephone, power, gas, water in office etc.	Full
28.    Servant Allowance	Full
29.    Compensation	Full
30.    Allowance received as head of the department/charge allowance	Fully tax free if it spent for official purpose.[6th Schedule (Part-A) Para-5]
31.    Overtime	Full
32.    Residence telephone bills/utility bills/club bills reimbursed	Full