Interested to Buy Any Domain ? << Click Here >> for more details...
what is vat.how it calculated.example i purchased
Rs.5000.how much percent charged vat.how post entry
- 2 Answers
- 5614 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manikprabhu s uttarwar
VAT Rate is Product & State Specific hence first one has to know the "Product" purchased/sold and in which "State".
If Seller and Buyer are situated in different State then VAT is not applicable, but Central Sales Tax is applicable.
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / sanjay kumar
'vat' is a direct tax. it is charged by seller from customer on the behalf of state govt. and deposit in govt. a/c. there are different type of VAT rate according to state govt. rule/products for example 4%,5%, 12.5% etc. suppose Mr. X purchase goods from Mr.Y of Rs. 50000/- and according to vat rule 4% Vat applicable on above goods thane entry will be
IN THE BOOK Mr X
Purchase(goods) a/c Dr. 50000/-
Vat 4% a/c Dr. 2000/-
To Mr. Y A/C Cr. 52000/-
IN THE BOOK OF MR. Y
Mr. Y A/C Dr 52000/-
Sale(goods) a/c Cr. 50000/-
Vat 4% a/c Cr. 2000/-
| Is This Answer Correct ? | 6 Yes | 2 No |
what is waybill ? when we supplied a machine to Gujarat from Hyderabad they asked waybill. How it is different from consignment note?
we are registered dealer of VAT(sale tax) for different states regarding consutruction of chimney and roc, we also purchase material inter-state under cst . so, please someone help regarding VAT+VAT TDS+CST+WCT+Service tax both under composition scheme and non-composition and any related site or recommened books which one solve queies. Thank u
WHAT IS MEANIN OF DEPB LICENCE UNDER IMPORT & EXPORT
what is e-1 sales
When will capital gain araises?
how to know whether on a particular thing the tds is applicable
What will be the TDS deducted for Net salary of Rs. 10,500 for month
Please guide in Taxation. I want to know the CHALLAN NO, FREQUENCY OF TAX DEPOSIT,FILING FORM NO, FREQUENCY OF FILING OF ALL TYPES OF TAX(DIRECT & INDIRECT)
can i take input tax credit on inter state purchase? reply breifly.
What is the difference between fund flow vs. Cash flow?
Wether TDS is deducted if its jobwork and VAT is charged on that
When VAT 14.5% is applicable and when Work contract tax 4% is applicable? Is both are same?
Audit 
