what is vat?
what is excise?
what is form c & d in sales tax?
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Answer / ashish bhansali
vat is an indirect tax,it is a multistage system for collection sales tax.it is levied by the dealer at the time of sale of goods
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / viveka nandareddy
According to my best knowledge form-c shall issued by the buyer which is registered to registered seller for reduction of VAT burden to the seller
for ex: mr.vivek was a buyer of goods from a.p and mr.raghavan was a seller of goods.here with out form-c mr.raghavan should pay the tax 12.5%.
but if mr.vivek issued the form-c to the raghavan...mr.raghavan can pay the tax 2% on goods
with this automatically reduced the cost of goods...
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sakshi kaushik
A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.
varriant of vat:-
:- consumption varriant.
:- income varriant.
gross product varriant.
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Answer / sushant
Form D is Old Concept so forget itttt... byeee...
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ashok
VAT IS A TYPE OF STATE GOVT TAX. IT HAS CHARGED VARIOUS RATE 4%, 5%, 12.5%. G
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sonik
1)VAT(2%)is chared by the registered dealer at the time of
sale of goods(except UT-0%)for Interstate Transaction
against form "C" from purchaser.
2)Excise is the tax on Manufactured goods at the
time of its removal from plant i.e. at the time of sale.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / kasim
you can find out best answers from the official site.
www.incometaxindia.gov.in
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / amit
VAT is Value Added Tax. It is tax chared by the registered
dealer at the time of sale of goods just like Sales Tax. A
vat dealer can claim credit of vat on good purchased by him
just like excise duty.
While Excise is the tax on goods produced but charged at the
time of its removal i.e. at the time of sale.
Form C is issued by a reg. dealer(purchaser) to seller of
goods in case of CST so as to charge him sales tax at lesser
rate whereas the form D isissued by the govt to the seller
of goods for the same reason.
| Is This Answer Correct ? | 10 Yes | 12 No |
Answer / raupya
Form C is issued by the dealer for purchasing goods from
the dealer out side the state in which he resides the
effect can be understood ny looking at following example IF
Mr A Registered Dealer in Hyderabad (AP) wants to purchase
goods from Mr B a registered dealer in Mumbai.Mr B who is
selling the goods will charge VAT @ 4% or 12.5% on the
goods if Mr A issues him “C” Form then Mr B should Charge
him CST @ 2% so Mr A is SAving Tax.
| Is This Answer Correct ? | 19 Yes | 22 No |
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Audit 
