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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
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 ?    83 Yes 5 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 ?    29 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 ?    21 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
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
# 8
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 ?    9 Yes 1 No
Deepak Shashi
 
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 ?    1 Yes 0 No
Ramesh
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
WHAT IS THE DIFFERENCE BETWEEN TAX & TAXES? Deloitte 3
what is exemption if tds? who & what get benefit of such exemption of tds?   2
What is the difference between Sales Tax and VAT?   2
what is the last date of TDS retur filling   2
i am working as an accountant. i forgot to deduct the TDS of one employee in year 2010-11 of Rs.1141/-. Now what is the procedure or solution for it?   6
If the total material cost of secondary steel products @ BSL, Jharkhand, is Rs.30 lacs exclusive of VAT @ 4%, ED @ 8.24%, TCS @ 1%, and the buyer is registered under the Company's Act, 1956 in Bihar, and carrys VAT & CST certification but no ED registration, then what would be the proforma of purchase invoice ? And if the Buyer sells the above materials with the conversion charges or profit of Rs.5 lacs within Bihar, what would be the proforma of Sale Invoice ?   1
What will be the TDS deducted for Net salary of Rs. 10,500 for month   2
WHAT IS TDS AND WHO IS LIABLE TO DEDUCT TDS   5
As an accountant what we have to do if purchaser is not paying us form C however we have charged tax at lower rate against form C?   6
can we deduct the tds on purchase of computer, server?   7
what is tds ?   2
Why Govt. Have Need of WCT. Vijai-Electricals 2
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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