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1- when will be vat charge, C.s.t charge and excise charge
on the goods ? 2- what is different between intra sales &
purchase and inter sales & purchase?
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Answer Posted / natasha bhardwaj
vat(value added tax) is a tax charge on the sale and purchase of good vat is multistage tax i.e on every stage tax shall be charged from costumer for purchaing the good. we have to pay tax at every stage but credit shall be allowed on it that is called ITC(input tax credit)
only the person who is registerd under vat act can take credit of vat only and as per recomadation of white paper vat shall be chared 4%,12% but if a individual state wants to change it they are fre to change
cst(central state tax) is tax on inter state sale and purchaseas we listen this word it seems like tax paid to central govt but actully tax paid to state govt. now u people will think so why it is central state tax because when there was a dispute between inter state and inter state for giving deduction so central govt decide that who will give deduction that is why it is central state tax.
now diffrence between intra and inter - inter state sale aur purchase means outside the local state or in other state.
intra state sale purchase means within the state.
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