1. How many types of vat?
2. What is the sales tax purpose?
Answers were Sorted based on User's Feedback
Answer / santhosh
Input VAT and Output VAT are two types
Input VAT is on purchases within the states
output VAT is on Sales to register dealor
VAT Rate is differ in both the cases
and which is based on product
u can read 6 VAT schedules in the Net and came to knw what is the vat rate on different goods
Audit is mandatory if turnover crossed 1 crore
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Answer / nagendra
i am nagendra searching job please tell me vat cst interview question examples
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Answer / vinod kumar
The India Is a four type of VAT :-
1:-1%
2:-4%
3:-4.5%
4:-12.50%
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / abhishek kumar
V A T - The value aded tex is indirect tex replaced in ples of sales tex it is yusd to didoct by salect government
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mala e
There are five type vat there are:
1.vat at 0%
2.vat at 1%
3.vat at 5%
4.vat at 13.5%
5.vat at 20%
Is This Answer Correct ? | 5 Yes | 7 No |
Answer / kiran
VAT IS TWO TYPE INPUT & OUTPUT BUT IN INDUSTRY VAT IS 3 TYPE
AGINST D1 4 % aND 12.5% OR WITHOUT D15% VAT
Is This Answer Correct ? | 2 Yes | 6 No |
Answer / jaydeep rawat
1. 1% - FOR GOLD, DIAMOND
2. 4.5% - FOR RAW MATERIAL, STATIONERY, MEDICINE ETC.
3. 13.5% - FOR ELECTRONICS ITEMS, LUXURY GOODS ETC.
4. 20% - LIQUOR
5. 22% - DIESEL
6. 24% - PETROL
Is This Answer Correct ? | 0 Yes | 5 No |
how form h fill up?
If Sales Made Against form c with Rate2%, after then we are unable to collect the form c from party, party is ready to pay debitnote to us, we also agree for this, what procedure to follow, how to pay to Vat Department and which form to be submitted.
Any body give journal entry for this PURCHASEA/C DR 500 S.TAX 50.0 SUNDRY CREDITOR 450.00 AND Which amount i taken in purchase ledger and which amount i taken in s.Tax ledger and which amount i taken in sundry creditors ledger wat are the details i require to maintain with regard to submitting of s.Tax return
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can we take input credit on interstate purchase, which is not against 'c' form. Party had charged full tax amount (cst 4%)
why direct tax as a career field? why u have chosen direct tax as a field?