Dear Friends I want to know more and more about VAT and vat rates and in which field it is levied
plz resolve my query
3 Replies
R.N.Sinha
(Chartered Accountant)
(27 Points)
Replied 07 June 2008
Karishma vat is value added taxes ,there r specified aricles/goods on which govt levies sales tax @ 4%,8%,12.5% on the intra state sales purchase or sales,For this the trader has to get registration under vat act .In the same way for the inter state sales or purchase the trader requires cst registration. The trader pays output tax on sales &gets input tax credit on purchases and submits quarterly vat return in RT-1,RT-2. for further information email me on rahulbeta @ sify.com.
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