What will be amount Shridhar has to pay for a watch costing Rs. 18000 when 8% sales tax is added?

Sales Tax, Value Added Tax, Goods and Services Tax are types of taxes imposed on the products and services. Sales Tax (abbreviated as ST) is imposed by the government when a product is sold to the customer. Sales tax = Tax% of Bill Amount Total Bill = Cost of the Item + Sales Tax VAT or Value Added Tax is also a type of tax charged by the government for public welfare expenses. This tax is already included in the price of the product. At present, a percentage of VAT is imposed in almost all the products and services. GST stands for Goods and Services Tax. GST is a new tax levied by the... Show more

Sales Tax, Value Added Tax, Goods and Services Tax are types of taxes imposed on the products and services.

Sales Tax (abbreviated as ST) is imposed by the government when a product is sold to the customer.

Sales tax = Tax% of Bill Amount Total Bill = Cost of the Item + Sales Tax

VAT or Value Added Tax is also a type of tax charged by the government for public welfare expenses. This tax is already included in the price of the product. At present, a percentage of VAT is imposed in almost all the products and services.
GST stands for Goods and Services Tax. GST is a new tax levied by the government since 1st July, 2017. This tax is charged on supply of goods or services or both.

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