Tecdiary

Asked 5 years ago

I am using three digits after decimal point. If I say my product price is 0.950 & product tax is 5% or 0.050 The bill shows total amount is 0.997
If I select decimals as 3, it shows four decimals in the product.

I am attaching the screenshots

Attachments

MS
Mian Saleem
Answered 5 years ago
Hello,

The tax is calculated as following
```
Exclusive Tax = (price * tax rate / 100) => (100 * 5 / 100) = `5` 
               so product nett price 100 & unit price will be 105

Inclusive Tax = (price * tax rate / (100 + tax rate)) => (100 * 5 / (100 + 5)) = `4.76`  
               so product nett price 95.24 & unit price will be 100
```
The Product Tax input should be a percentage number. If you want to apply 5% tax then you should input 5 not 0.05

The Order Tax is secondary tax that is always applied as exclusive tax.

I will check the total payable it should be 0.998 not 0.997 😦

Thank you
CM
Copper Machine
Answered 5 years ago
I tried putting 5…It didn’t work. I will go through it one more time. Please check my second query …If I select decimals as 3, it shows four decimals in the product. I have already attached the screenshot in my previous query…
MS
Mian Saleem
Answered 4 years ago
Hello,

All decimal inputs are saved with 4 decimals and the input values are not formatted.

Thank you
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Question: Tax Calculation Error