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what is the different between CST , VAT, and Excise Duty ?
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Answer / ankit jain
CST is a Central tax levied under CST Act, 1956 where in
when there is a sale of goods between dealers of 2
different states, seller has o colect tax from the buyer at
prescribed rate. If the dealer isa registered dealer, then
assessee can sell at discounted rate of 2% if forms are
used as prescribed in CST Act, 1956
VAT is new term for sales tax. Now the dealer has to levy
tax at every stage of sale in intra-state sale unless goods
are exempted from tax.
| Is This Answer Correct ? | 123 Yes | 25 No |
Answer / avadhut
CST is a central sales tax which is applicable in all over
india at same concept. At the time of interstate sale CST
is applicable. the rate of cst is 2 % aganist the form 'C'.
vAT is a value added tax which is applicable on value
addition of profit of seller or dealer. Vat is applicable
statewise.
Excise Duty is a duty on manufacturing of goods. excise
duty charge on basic value of goods at the time of removal
of goods from the factory as a finished goods. it is not
added at every stage.
| Is This Answer Correct ? | 79 Yes | 8 No |
Answer / varun maingi
cst -interstate sales
vat- intrastate sales
excise-removal of goods from factory
custom -import of goods
sales tax is divided into 2 parts cst and vat
where vat- is levied on multipoint sales and input tax
credit is also available to remove cascading effect ie(tax
on tax)
| Is This Answer Correct ? | 54 Yes | 8 No |
Answer / bhaskar awasthi
CST- is the cebteral sales tax.It is applicable on inter
state sales.
VAT- is defined as value added tax.It is Intra state sales.
Both are applicable on sales of goods.
EXCISE DUTY- a duty on manugacturing of goods. Chage on
basic value of goods as a finished goods.
| Is This Answer Correct ? | 29 Yes | 2 No |
Answer / amol palav
CST- Comes under the preview of Central Sales Tax Act
1956,extend whole of India.
CST is applicable when the movement of goods pass from one
state to other. 2% CST is charged against Concessional Form C.
VAT- Indirect Tax on Consumption of Goods. Every State have
it own VAT enactment. VAT is intended to tax at every stage
of sale unless the goods are exempted from levy of Tax.
Excise Duty :- Excise Duty is an indirect tax levied and
collected on the goods manufactured in India. Manufacturer
of goods is responsible to pay duty to the Government. This
indirect taxation is administered through an enactment of
the Central Government viz., The Central Excise Act, 1944.
The rates at which the excise duty is to be collected are
stipulated in the Central Excise Tariff Act, 1985
| Is This Answer Correct ? | 31 Yes | 5 No |
Answer / p.p.mishra
VAT is application only in state sale case
CST is applicable only in Interstate sales case only
VAT and CST Both can not be applicable for singly
transaction.
| Is This Answer Correct ? | 34 Yes | 15 No |
Answer / yogesh
CST is a central sales tax which is applicable in all over
india at same concept. At the time of interstate sale CST
is applicable. the rate of cst is 2 % aganist the form 'C'.
vAT is a value added tax which is applicable on value
addition of profit of seller or dealer. Vat is applicable
statewise.
Excise Duty is a duty on manufacturing of goods. excise
duty charge on basic value of goods at the time of removal
of goods from the factory as a finished goods. it is not
added at every stage
| Is This Answer Correct ? | 19 Yes | 2 No |
CST is a sale from one state to another state against form
C. the rate of tax is 2%.
full CST sale is a sale where there is no requirement of the
form C and the tax will be full tax of vat of the selling state.
VAT is a sale within the state. the rate of tax depends upon
the products and the state policies (in some cases)
EXCISE DUTY is a duty paid on all the products manufactured
(except some products exempted from the duty) at the
manufacturing level only. the tax depends on the products.
| Is This Answer Correct ? | 15 Yes | 3 No |
Answer / vijay p
in a simple term:
CST IS APPLICABLE ONLY IN INTERSTATE PURCHASE OR SALE 2%
AGAINST FORM 'C'
VAT IS APPLICABLE ONLY IN WITHIN STATE BASED ON VAT %AGE ON
GOODS.
| Is This Answer Correct ? | 10 Yes | 3 No |
Central purchase is eligible for issuance of H form. Whetther H form can be issued against local purcahse also? What I came to know is : earlier H form can be issued against central purchase only, but after intoduction of VAT, department issued notification regarding issuance of H form against LOCAL PURCHASE also. Is it true? If true then please tell me about notification/ circular/ relevant section or law. Please look into the matter. Thanx n Regards
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