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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Question
what is surcharge on vat? is it refundable or not?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
It varies from state to state in India. There may or may not
be Surcharge in a state. Even if Surcharge or Cess is levied
on any basic tax, the rates may vary from state to state and
year on year.

For correct information, refer the VAT Act, in your state or
consult, a Tax Expert/Consultant/Practitioner or contact the
Commercial Taxes Office.

Refund will generally applicable as it's applicable to the
basic tax.
 
Is This Answer Correct ?    7 Yes 2 No
H.r. Sreepada Bhagi
 
Answer
# 2
Surcharge on V. A. T. is 1% Yes it is refundable 
Is This Answer Correct ?    5 Yes 1 No
Kunal Majumdar
 
 
 

 
 
 
Other Accounting General Interview Questions
 
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What do you mean by depreciation?   10
interest received comes under which head IBM 7
why should be mention capital in liabilities side   4
journal Bank-Of-America 1
What will be the journal entry for the following - 1)Goods purchased from Mohan for Rs 5000 2)Goods purchased from Mohan on credit Rs 3000 3)Salary paid to Mohan 4)A sum of Rs 120 is realized on the sale of old furniture   8
 
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