Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / guest
vat means value added tax ,meaning a tax is imposed at every
level whenever value is added to the commodity.
Input credit is being allowed to registered dealer on the
commodity on which he is liable to charge vat on sales of
the same commodity if he has already paid vat on purchase on
input material for making that commodity.its
The basic purpose of introducing vat is to curb the practice
of dealer of tax evasion on sales & there by making it
advantageous to various parties like Dealers, Consumers,
Govt .Dealers now can claim input credit,three will be
general fall in price of goods because now there will be vat
instead of others taxes & more revenue to govt.
Sales tax is on sales of goods its one point tax . input tax
credit is not available in respect of tax paid at earlier
points.
| Is This Answer Correct ? | 7 Yes | 0 No |
Post New Answer View All Answers
What is the different between Excise Invoice and Invoice
calculation of Tds on subcontractor
Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?
is there any specific percentage related to lower tax deduction under tds
How to calculate excise duty on mobile products?
When and how Wct is applicable on Labour Job Work and what is the percentage?
At present what is the rate of excise duty on sale of Weigh Bridge Machinery to out of state from Karnataka.
how to generate H-form and procedure for generate?
Excise duty applicable for Handmade Production?
We have got 5 firms. Same partner only running all the firms. Salary is going from one firm. But if we go for PT registration it is asking number of employees. I don't know how to fill the form in online. Any one can help me?
Dearlers Margin Received for Direct sale from our Creditor, that TDS deducted for us. How to accounting in my records in Tally ERP 9
what to in pro
What extra accounts and legal formalities are maintened In excise firm other then normal saling firm.? also tell me tax aspect in Excise firm?
How We know we are liable for Profession Tax liability. I have an optics shop & I want PT Number so what should i do?
please tell me how to take stock (not enter in purchase) in Tally ERP 9 in Case the goods recived against from FORM 38 The Company sent me consignment for sale on behalf commisson & after sale he want FORM F. so please tell me procesure of TAke the Stock in Tally for the Created Sale Invoice & Tax Invoice. Thank You
