VAT (Value Added Tax)

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DIPTI KHANOLKAR (Querist)
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23 October 2007 For November 2007 Exam(PE-II) of group2 whether VAT is applicable in the paper INCOME TAX & CENTRAL SALES TAX or not since it is heard by me that some small question can come for 10 or some marks though Income tax consists of 75 marks & CST consists of 25 marks

R.V.RAO

R.V.RAO (Expert)
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23 October 2007 DIPTIJI,
PL. DO NOT GO PLEASE BY SUCH HEARSAY.
SALES TAX IS RPLACED BY VAT.
CST IN VATREGIME IS ALREADY REDUCED FROM
4 %TO 3% AND IS IN FOR GRADUAL PHASE OUT.
PL. PREPARE YOURSELF FOR VAT ALSO.IT IS ONLY NEW NAME FOR SALES TAX
R.V.RAO