what is the difference between CST, VAT, SALES TAX, EXCISE
DUTY, CUSTOMS DUTY
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Answer Posted / gaurav
CST is levied on the INTER STATE sales of goods.
VAT is levied on the INTRA STATE sales of goods. It is
charged on each point of value addition on to the goods on
the value that is added on the goods at that stage and not
on the total price of goods.
SALES TAX is same like VAT except that it is charged at one
point on the total price of goods. Now it has been largely
replaced by VAT.
THE ABOVE THREE ARE CHARGED BY THE STATE GOVTs.
EXCISE is charged on MANUFACTURED goods by CENTRAL GOVT.
CUSTOMS DUTY is charged on goods imported from other
countries.
| Is This Answer Correct ? | 216 Yes | 33 No |
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