How to calculate the amount excluding tax after hotel discount?

for ordinary taxpayers in catering industry, the applicable VAT rate is 6%, and for small-scale taxpayers, the applicable VAT rate is 3%. Industry practice

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Calculation method of value-added tax in catering industry

Source: Niu Xiaobian Release time: 2121-11-11 Number of readers: 1888

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Catering service accounting is the process of economic activities in catering industry and service industry with currency as the main unit of measurement. The catering service industry has three functions: production, sales and service. Next, let's learn about some accounting problems in the catering service industry!

for ordinary taxpayers in catering industry, the applicable VAT rate is 6%, and for small-scale taxpayers, the applicable VAT rate is 3%. So how to calculate the value-added tax that the catering industry needs to pay?

how to calculate the value-added tax of catering industry?

1. When the enterprise is a general taxpayer:

VAT payable in catering industry = output tax-input tax;

in which: output tax = sales × applicable tax rate;

sales = sales including tax ÷(1+ applicable tax rate).

2. If the enterprise is a small-scale taxpayer,

VAT payable in catering industry = operating income excluding tax × applicable tax rate.

accounting entries commonly used in catering industry

1. Direct consumption of meals

Borrowing: main business cost

Lending: cash on hand/bank deposit/accounts payable

2. Buying meals that need to be put in storage