What is the diff between Comercial tax and sales tax?
- 2 Answers
- 5350 Views
- Idea, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
sales tax is only paid for totl sales of the company . vat
is adjustable input credit
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / abhivirthi tax and industrial
At the time of introduction of sales tax, tax was levied on the business people on their sales on the transfer of goods from businessmen to others and tax was collected and such collection of tax called Sales Tax.
Subsequently, the “business” term expanded as any trade or commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture whether or not such trade, commerce, manufacture, adventure or concern is carried on which a motive to make gain or profit and whether or not any profit accrues from such trade, commerce, manufacture, adventure or concern and any transaction in connection with, or incidental or ancillary to, such trade, commerce, manufacture, adventure or concern.
After expansion of “business” term there is possibility of levy of tax at various stages like buying, selling, manufacturing, supplying, distributing goods directly or otherwise, hire purchase, commission, and transfer of property in goods involved in the execution of works contract etc.,
The activities like buying, selling whether wholesale or retailsale, and other activities were called commercial activities and tax levied on such transactions were called Commercial Tax.
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave
New Natham Road
Reserve Line,
Madurai – 625014
Cell: 9994990599.
| Is This Answer Correct ? | 1 Yes | 0 No |
Do companies pay exactly same amt of P.F (as employer's Contribution )as deducted from employee's salary Eg. employee's cont. 5000/- employer's cont. 5000/- is it
treatment of Service tax and TDS
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
Can anybody explain? what's consumeble items?
service tax
what is form requirment for monthly, quartely, and yearly sale return for haryana
How Many Category of VAT in West Bengal
0 Answers Jyotsna Enterprises,
I forgot to deduct TDS on individual contractor and Exceed amount 70000 so what should to do?
Can be deduct Tds on Staff welfare expenses?
what is the defference between tds & tcs ?
what is input rebet on sale tax?
How to fill up the Challan (Form-VIII)of profession tax?
Audit 
