Value Added Taxes (VAT) India
VAT is the indirect tax on the consumption of the goods, paid by its original producers upon the change in goods or upon the transfer of the goods to its ultimate consumers. It is based on the value of the goods, added by the transferor. It is the tax in relation to the difference of the value added by the transferor and not just a profit.
All over the world, VAT is payable on the goods and services as they form a part of national GDP.
It means every seller of goods and service providers charges the tax after availing the input tax credit. It is the form of collecting sales tax under which tax is collected in each stage on the value added of the goods. In practice, the dealer charges the tax on the full price of the goods, sold to the consumer and at every end of the tax period reduces the tax collected on sale and tax charged to him by the dealers from whom he purchased the goods and deposits such amount of tax in government treasury.
Difference Between VAT And CST
Silent Features Of VAT
Advantages Of VAT
Methods Of Collecting And Charging The VAT
Constitutional Framework Which Deals With The Levy Of Sale Tax
Levies Of Tax Under The VAT
Who Is The Dealer?
Special Additional Tax(SAT)
Relevant Components Of Calculating VAT
VAT In Various States Of India
| 