Diffrence between vat & sales tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2012
Plz explain me the difference between vat & sales tax?
1.on which goods sales tax is levied,on which sales tax is levied?
2.when tax is to be deducted?
3.which act comes earlier sales tax or vat?
4.in which state sales tax & vat is levied?
1.on which goods sales tax is levied,on which sales tax is levied?
2.when tax is to be deducted?
3.which act comes earlier sales tax or vat?
4.in which state sales tax & vat is levied?
29 July 2012
1. The current name of sales tax is VAT which means value added tax. The sales tax is not levied now after the introduction of VAT.
2. Tax is collected in the bill and not deducted except TDS on works contract service provided by the contractor. According to the state vat act, TDS tax is deducted from the bill and remitted to the VAT authorieties.
3. VAT is latest, and earlier it was called as SAlestax. For E.g Kerala General Sales tax Act, U.P Trade Tax Act., Punjab excise and taxation Act.
4. In all the states, only VAT is levied.
2. Tax is collected in the bill and not deducted except TDS on works contract service provided by the contractor. According to the state vat act, TDS tax is deducted from the bill and remitted to the VAT authorieties.
3. VAT is latest, and earlier it was called as SAlestax. For E.g Kerala General Sales tax Act, U.P Trade Tax Act., Punjab excise and taxation Act.
4. In all the states, only VAT is levied.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2012
thank u..sir..
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