23 April 2009
Please dont mind...you seems to be new in finance field.
VAT is Value Added Tax. It is tax chared by the registered dealer at the time of sale of goods just like Sales Tax. A vat dealer can claim credit of vat on good purchased by him just like excise duty.
23 April 2009
value added tax called vat,registered dealer charged tax to purchaser and deposit the same in sales tax department,there are so many rates are defined from sales tax department.when sales within state, dealer charged vat tax and out of state dealer charged cst @2% with form "c".
CAclubindia
