Vat is tax on tax.
This query is : Resolved
27 December 2013
Experts,
We add Excise in the cost of production & after adding some margin we determines selling price on which we charge VAT. in short we charge VAT on Excise i.e.Tax on TAX. So is it treated as double taxation or TAX On TAX ?
We add Excise in the cost of production & after adding some margin we determines selling price on which we charge VAT. in short we charge VAT on Excise i.e.Tax on TAX. So is it treated as double taxation or TAX On TAX ?
28 December 2013
It is Tax on Tax and not Double Taxation. Double Taxation is a different chapter in taxation.
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