In this article, you will learn how to calculate VAT in Excel using a function? And what formula can we use to calculate the amount of VAT paid if the only information you have is the total amount?
You can use my free VAT calculator if you need a calculation for multiple items.
Well, calculating tax in excel is quite easy. VAT (value-added tax) is the most common type of tax applied to goods. Now GST (goods and services tax) applies to almost all kinds of goods, but for some products, such as spirits, VAT still exists. In the same way you can calculate GST. After reading this article, you will learn:
1) Calculating VAT in Excel
2) How to calculate the selling price of a product
The general formula for calculating VAT in Excel: