VAT query
This query is : Resolved
07 August 2009
I want to know whether VAT is charged on services as well?
VAT is charged on final price of goods whereas sales tax is charged when goods are manufactured. So how can we say that VAT replaces sales tax?
Is it not true that VAT increases the price of the product?
VAT is charged on final price of goods whereas sales tax is charged when goods are manufactured. So how can we say that VAT replaces sales tax?
Is it not true that VAT increases the price of the product?
08 August 2009
VAT is generally charged of goods and works contracts and not on services.
When goods are manufactured excise duty is leviable on excisable items.VAT is applicable on sale of the product.
Sales Tax has been replaced by VAT by almost all the States. You may assume both as the same.
True, VAT increases the price.
When goods are manufactured excise duty is leviable on excisable items.VAT is applicable on sale of the product.
Sales Tax has been replaced by VAT by almost all the States. You may assume both as the same.
True, VAT increases the price.
Message likes :
1 times
11 August 2009
it's right VAT generally charged where work contract is applicable, i.e. where material is not supplied directly and it has invlovment of labour as well.
both sale tax and VAT charged on selling price.
i don't think that VAT increase the price of the product.
as per sale tax concept, sale tax is aslo part of cost for dealer, but in VAT concept, there is provision of input credit and set off against VAT payable is avilable.
both sale tax and VAT charged on selling price.
i don't think that VAT increase the price of the product.
as per sale tax concept, sale tax is aslo part of cost for dealer, but in VAT concept, there is provision of input credit and set off against VAT payable is avilable.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Gst input for FY 23-24
- Tax on capital gains revoked us 54f
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
