CST- Central Sales Tax on the sell of goods within the
states of India
VAT- Value added tax which is local on the sell of goods
within the state itself
Sales tax- Same as VAT,,,,,mostly dominated by VAT
Excise duty- Tax on the production of goods in india by
state gov.
Customs duty- Tax on the goods imported in India
VAT is levied on the INTRA STATE sales of goods. It is
charged on each point of value addition on to the goods on
the value that is added on the goods at that stage and not
on the total price of goods.
SALES TAX is same like VAT except that it is charged at one
point on the total price of goods. Now it has been largely
replaced by VAT.
THE ABOVE THREE ARE CHARGED BY THE STATE GOVTs.
EXCISE is charged on MANUFACTURED goods by CENTRAL GOVT.
CUSTOMS DUTY is charged on goods imported from other
countries.
1.VAT IS CHARGED ON SALE WITHIN THE STATE AND COLLECTED BY
STATE GOVT.ONLY.
BELOWED THREE ARE CHARGED BY CENTRAL GOVT.
2.CST IS CHARGED ON SALE WITHIN THE COUNTRY AND COLLECTED BY
CENTRAL GOVT.
3.EXCISE DUTY IS CHARGED ON PRODUCTION OF GOODS WITHIN THE
COUNTRY,AND COLLECTED BY CENTRAL GOVT.
4.CUSTOMS DUTY IS CHARGED O IMPORT OF GOODS FROM OTHER
COUNTRIES.
cst refers central sales tax which is levied on the sale of the goods with in the state and collected by the central govt.
vat refers value added tax which means charge the tax on consumable products and this is the charge by the state govt.
sales tax is like a vat.
excise duty is levied on the moveable products or manufacture products.it is charged withhin the country and collected by the central govt.
customs duty is levied on the import of goods from another countries.
EXCISE DUTY IS A DUTY LEVIED ON PRODUCTION AND MANUFACTURE OF GOODS
IN INDIA.
GOODS WHICH ARE LIABLE FOR EXCISE DUTY MENTIONED IN CENTRAL EXCISE TARIFF ACT-1985
VAT is a sales tax collected by the government (of the state in which the final consumer is located) – which is the government of destination state on consumer expenditure.
VAT - VAT stands for “Value added tax” It is a form of
indirect tax, which is imposed on products and services at
different stages of manufacturing. The tax is paid to the
government directly by the producer and cost is passed on
to the consumer.
SALES TAX – Sales tax is levied at the time of the purchase
of the products or services. The tax is collected form the
consumer by the seller at the time of purchase.
EXCISE DUTY – Excise duty otherwise known as special tax.
1. Excise duty is levied for locally produced/
sale/use goods ( Alcoholic Drinks and Tobacco Products)
2. Excise duty is levied on Company’s total income or
revenue.
3. Excise duty is levied on activity/occupation (
Licence fee charged from doctors and other professionals)
CUSOMS DUTY – Custom duty is levied on imports to raise the
State revenue. To protect the domestic industries from the
abroad competitors. It is levied generally on the value of
goods / dimension/weight.
one supplier/dealer of a Reputed Electric motor
manufacturing company of Kolkata having shop in Dhanbad
(Jharkhand)carges 10.3% E.D + Education cess + Jharjhand
VAT on ordered value whether is it correct? Are dealer are
supposed to charge E.D.
i am newly started cement distribuition company how to
maintain salex tax account in tally tnvat format recently
its changed @14.5% pease any one post this answer
We are into Press Tool & Die Manufacturers and
regisered with ESI. for Expansion of Building we are
paying civil contract bills ( incluidng labour as well
as material) . Please let me know while making
payment we have to deduct ESI because civil contrator
is not registered under ESI. My question is contractor
issue bill including material . on what amount we have
to deduct ESI. Please let me know.