Ajinkya Electronic Systems, a company in India that manufactures many different electronic products, has to purchase goods and services from a variety of suppliers (wire, diodes, LED displays, plastic components, etc.). The table below shows several suppliers and the VAT tax rates associated with each. It also shows the purchases (in $1000 units) that Ajinkya made (before tax) from each supplier in the previous accounting period. Assume Ajinkya’s sales to end users were $9.2 million and Ajinkya’s products carry a 15% VAT.
 FIGURE 1.png)
What was the average VAT rate paid by Ajinkya in purchasing goods and services?
In $1000 units,
Average VAT rate = VAT paid/value of goods and services
= 235.720/(350 + 870 + 620 + 90 +50)
= 235.720/1980
= 0.1191 (11.91%)
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