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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1915)
 Accounting General interview questions  Accounting General Interview Questions (2843)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
what is difference among VAT, CST and sale tax
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
VAT [Value Added TAx] means tax is local tax i.e, within
the state & CST [Central Sales Tax] Inter state Sales or
Transaction and Sales Tax is the Tax on Sales it may be VAT
or CST.
 
Is This Answer Correct ?    86 Yes 6 No
Vedhavyas G Kotekar
 
Answer
# 2
vat is value added tax ( it is local tax on product sale) &
cst is a central sale tax (it is not local tax , basically
it is sale of other then local state.vat & cst both are
sale tax
 
Is This Answer Correct ?    32 Yes 0 No
Narender Kumar
 
 
 
Answer
# 3
Value added tax is Basically ,when goods are sold
locally,or within state only & CST is ,when goods are sold
out of state. Sale tax is general term used for all sold
goods.
 
Is This Answer Correct ?    22 Yes 0 No
Jayashree
 
Answer
# 4
VAT- Vat is a local tax in a state.That percentage is 4,5
and 12.50 %.In local tax we issue D-1 form aganist 4% sale
or purchase.otherwise 5 or 12.50 %tax will be charge.

CST - Central sale tax is a sale of outside local city.It
means sale on central area.the tax is on C form 2 %
otherwise 4 and 12.50 %,It depends on item.

sale tax- We are saling the product than we can charge tax
that is sale tax.sale can be central and local.
 
Is This Answer Correct ?    15 Yes 1 No
Amit Goyal
 
Answer
# 5
IF YOU ARE PURCHASING SOMETHING WITHIN THE STATE. THEN YOU
HAVE TO PAY VAT AS A TAX. & YOU ARE PURCHASING FROM ANOTHER
STATE THEN YOU HAVE TO PAY CENTRAL SALE TAX.
 
Is This Answer Correct ?    13 Yes 0 No
Abhishek Ranjan
 
Answer
# 6
Simple hai yaar:- VAT ko state govt. khaa jati hai.
aur CST ko Central govt. khaa jati hai.
State govt. ko khaane ko nahi milta tha to usne VAT ka
janam kar diya. Itna khaane ke baad bhi madarchoodo ka pet
nahi bharta to ghoos khate hai. G.Tax matlab to samajh hi
rahe ho dosto.
 
Is This Answer Correct ?    15 Yes 3 No
Bhrast Bharat
 
Answer
# 7
There are two important Tax invoice one is VAT and another
one is CST. VAT(value added tax) means tax for goods sold
inside the state and CST(central sale tax) means tax for
goods sold out of state.
 
Is This Answer Correct ?    10 Yes 1 No
Deepak Shashi
 
Answer
# 8
In VAT we can take credit from our purchases, but in CST we
cannot take credit from our purchases.
 
Is This Answer Correct ?    12 Yes 4 No
Ramya
 
Answer
# 9
There are two important Tax invoice one is VAT and another
one is CST. VAT(value added tax) means tax for goods sold
inside the state and CST(central sale tax) means tax for
goods sold out of state
 
Is This Answer Correct ?    7 Yes 0 No
R.iyyappan
 
Answer
# 10
vat (Valu added tax) is means local mateial purchase,cst
(central sales tax) material movement one state to anothere
state.
 
Is This Answer Correct ?    2 Yes 0 No
Ramesh
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
if there is no express contract between parties,but makes no. of payments to a particular party and those payments exceeds the limits prescribed(i.e 20000 or 50000 as the case may be)is tds applicable for the same?   1
What is the general entry for TDS certificate received from the debtor of the company? Wipro 3
difference between rebate and deduction IBM 3
When the C-Form should be issued, Whether it is from the date of Invoice OR from the date of material received (Goods Receipt Date)   5
Please tell me about service tax? And service tax latest rate? TATA 30
I have recived four c form for a fainancial year But c- form not in proper series For Exaple- c-form no. 1 for 1st quarter & 3 For Second Quarter 2nf For 3rd Quarter & 4 For Fourth quarter Please Tell Me Can I summit This Form in sale tax office in no Please tell me solution for that condition.   2
Books printing is exempted of VAT in A.P. India ? please tell   1
I HAVE PURCHASE MATERIAL IN 3% CST FROM U.P.AGAINST FORM 'C'. AFTERTHAT I WILL NOT GIVE FORM 'C' THAN HOW MANY RS. PAID TO PARTY.   8
how calculate salary supos my salary gross 12000 i want know that basic salary+da+other deduction Indiabulls 2
we are deducting tds for our clients under section 194C section. exemption under this section is Rs.20000 suppose if a client bills more than Rs.20000, then i have to deduct tds only for above Rs.20000/- bills or from the first bill onwards.please clear me with as example   2
How to calculate service tax in construction catatory   10
Please let me know How to deduct TDS when we paid amt to the vendor in account payable and what procedure for doing payment of tds and how Forbes 1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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