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What is the Difference Between Sales Tax and VAT ?
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Answer Posted / rajammal
The difference between VAT and Sales Tax:
First thing, both are apply on good and services. But there
is a difference between the both.
VAT - VALUE ADDED TAX
SALES TAX - TAX IN TAMIL NADU FORCED BY TAMILNADU STATE
GOVERNMENT.
This is very big chapter we are not possible to
mention all the point. The following things are only the
general point:
For under standing the difference we want to know about the
common thing.
1. Sales Tax is applied by the state Government, it is
variesfrom state to state. But Vat, is a common tax for all
the state/country.
2. In Sales Tax, the bill must be contain the RC No. and
Area Code for the refrence. Here in VAT, those who are RC
No. want to be apply for VAT No. and those who are register
his company need to apply VAT in Sales Tax Office of the
particular division.
3. In Sales Tax, the goods are classfied into different tax
rate. But in VAT, the good are only classified into 0%, 1%,
4%, 12.5%. (For future ref. see www.tnvat.gov.in website
for VAT details)
| Is This Answer Correct ? | 3 Yes | 7 No |
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