abhishreshthaa
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PURCHASE PRICE
WHAT IS SIGNIFICANCE AND RELEVANCE THEREOF?
Determination thereof is required to:
• Calculate turnover (including turnover of purchases) for
determining threshold limit to ascertain liability to tax; and
• Calculate purchase tax.
WHAT DOES PURCHASE PRICE MEAN?
It means the valuable consideration for any purchase made.
WHAT DOES PURCHASE PRICE INCLUDE?
• Any charge for anything done by the seller to the goods at or before delivery and/or
• Excise duty; and/or
• Customs duty; and/or
• Deposit whether refundable or not in connection with or incidental to the purchase, etc.
WHAT DOES PURCHASE PRICE EXCLUDE?
• Insurance, cost of transit, when it is separately charged; and/or
• Installation cost, when it is separately charged and/or
• Tax on purchase, etc.
WHAT IS SIGNIFICANCE AND RELEVANCE THEREOF?
Determination thereof is required to:
• Calculate turnover (including turnover of purchases) for
determining threshold limit to ascertain liability to tax; and
• Calculate purchase tax.
WHAT DOES PURCHASE PRICE MEAN?
It means the valuable consideration for any purchase made.
WHAT DOES PURCHASE PRICE INCLUDE?
• Any charge for anything done by the seller to the goods at or before delivery and/or
• Excise duty; and/or
• Customs duty; and/or
• Deposit whether refundable or not in connection with or incidental to the purchase, etc.
WHAT DOES PURCHASE PRICE EXCLUDE?
• Insurance, cost of transit, when it is separately charged; and/or
• Installation cost, when it is separately charged and/or
• Tax on purchase, etc.