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what is the different between CST , VAT, and Excise Duty ?
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Answer Posted / 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 |
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