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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1906)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
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
 
can a company deduct tax at source on thier telephone and broadband billing? if yes then what will be rate of TDS? KIP-Financial 5
If Sales Made Against form c with Rate2%, after then we are unable to collect the form c from party, party is ready to pay debitnote to us, we also agree for this, what procedure to follow, how to pay to Vat Department and which form to be submitted.   4
what typae of accounts?   2
Excisable material sold without charging excise duty, Now after 3 months, I am issuing Suplimantary bill to party for Excise payment, now please tell me the interest need to pay for this and also is there need to pay interest if i have sufficiant amount of cenvate credit balance in these 3 months. Reliance 2
AFTER GIVING INTEREST PROFIT OF RS. 20130 GIVING TO 2 OF WORKING PARTNERS OF THE BUSINESS FIRM   1
What's the difference between Income Tax and P.Tax?   1
we are giving the UPS monthly charges 10000/- should we deduct tds if yes then how we will calculate it   4
What is Rule 52A (Excises Duty)   1
If I want loan upto Rs.500000/- from bank. so how much capital show in my balancesheet. please help me.   1
a business man purchases goods at 12.5% vat... he wants to sel l the goods to other state then central sales tax will be applicable@2%.what he can do with the input tax avai lable?   1
if we are deducting TDS on sodexo .4% means , wht the surcharge & cess in that IonIdea 1
When Tax paid comes under expenses account instead of duties and taxes(current liabilities) ?   1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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