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Categories >> Accounting >> Taxation
 


   

 

Question what is vat?
what is excise?
what is form c & d in sales tax?
 Question Asked In Companies :: CA, DHL, Escorts, iFlex, TCS, Aksh Optifibre Limited, Cat Computer Services, Murjani, Precision Die Cutting,     < I also faced this Question! >
 Question Submitted By :: malaykrishnasaha
  Answer Posted By  
 
Answer
Form C is issued by the dealer for purchasing goods from
the dealer out side the state in which he resides the
effect can be understood ny looking at following example

IF Mr A Registered Dealer in Hyderabad (AP) wants to
purchase goods from Mr B a registered dealer in Mumbai.Mr
B who is selling the goods will charge VAT @ 4% or 12.5% on
the goods if Mr A issues him "C" Form then Mr B should
Charge him CST @ 2% so Mr A is SAving Tax.

Form D serves the same purpose but it has to be issued by
government

Is This Answer Correct ?    56 Yes 53 No


 
  kathiravan
 
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