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system
how do i calculate tax liability on the turnover of a small vendor?
user
there are quite a few questions as to how you are recording your income and expenses.   if you are running the bakery as a sole proprietor, with all the income and expense in a business account; then things are easy. you just have to pay tax on the profit [as per the standard tax bracket].   if you running it as individual, you are still only liable to pay tax on profit and not turnover, however you need to keep a proper book of accounts showing income and expense. get a accountant to do this for you there are some thing your can claim as expense, some you can't.
assistant