hey
i am a student and is very confuse regarding sales tax and vat
what is the diffrence between them
what is cst
diffrence between cst and sales tax
1 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 16 July 2016
- Sales tax is an indirect tax that is levied on sale of goods. Before VAT was implemented, sales tax was being levied on sale of goods
- VAT was introduced in place of sales tax wherein tax is levied only on the value added during the transaction. That is under VAT regime, input tax on local purchases can be set off against output tax
- CST is part of sales tax and is levied on interstate transaction (from one to another state). No option to set-off input tax against output tax.
See the link for more details: https://www.scribd.com/doc/39004111/Difference-Between-VAT-and-CST
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