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C.3 (1). Fatima Super market (retailer] buys an article from ABC Hypermart (wholesaler] at OMR 5000 and the wholesaler charges a sales tax at the
C.3 (1). Fatima Super market (retailer] buys an article from ABC Hypermart (wholesaler] at OMR 5000 and the wholesaler charges a sales tax at the rate prescribed rate of 8%. The retailer fixes the price at OMR 7000 and charges sales tax at the same rate to Mr. Rahim [customer). Apply VAT system of sales tax calculation to answer the following. (). What is the price that a consumer (Mr. Rahim] has to pay to buy the article? (0:5 Mark] (ii). Find the input tax and output tax for the retailer (Fatima Super market]. [1 Mark] (IT). Find the input tax and output tax for the wholesaler [ABC Hypermarket] [1 Mark] (iv). How much VAT the government received in total? (0.5 Mark]
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