Poonawalla fincorps
Poonawalla fincorps

Vat

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(Querist)
19 December 2011 Is VAT calculated on inclusive amount of Excise and customs duty ? I think it will be the effect of cascading on tax ?
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Vishnu Saboo

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Vishnu Saboo (Expert)
27 December 2011 Yes, as per defination of sales value under sales tax act, sales value includs Basic value of material+custom duty+ED+applicable cess etc.+any other charges recoverd from customer and shown sapertly or inclusive in basic value.

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