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what is vat.how it calculated.example i purchased
Rs.5000.how much percent charged vat.how post entry
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Answer Posted / manikprabhu s uttarwar
VAT Rate is Product & State Specific hence first one has to know the "Product" purchased/sold and in which "State".
If Seller and Buyer are situated in different State then VAT is not applicable, but Central Sales Tax is applicable.
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