Is turnover tax an indirect tax? And it has been abolished on introduction of VAT?
This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client.
How is this possible?
2 Replies
venu
(article student)
(29 Points)
Replied 19 May 2009
| Originally posted by :CA Shilpi Jain | ||
| " | Is turnover tax an indirect tax? And it has been abolished on introduction of VAT? This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client. How is this possible? |
" |
venu
(article student)
(29 Points)
Replied 19 May 2009
| Originally posted by :CA Shilpi Jain | ||
| " | Is turnover tax an indirect tax? And it has been abolished on introduction of VAT? This sudden doubt due to the reason that I have seen one of my clients' client charging TOT in the bill for material supplied to my client. How is this possible? |
" |
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