Answer / vinoth

When a company purchase or sold an item means, at that time
tax will be calculated that's called Value Added Tax(VAT).
And that's depend upon the percentage.

Answer / rajiv sabharwal

VAT means Value Added Tax. Presently VAT in Delhi is 4%. VAT
is levied on Sales of Commercial goods by registered dealers
(dealers registered with Govt. Authorities)at the time sales.

The calculation of VAT is as simple as of Sales Tax. If you
are charging 4% on 1000 Rs. goods then the VAT is 40 Rs.

But at the time of depositing the collected VAT to
authorities we can claim rebate against the INPUT VAT paid
at the time of purchasing goods (only on local purchase and
not the central purchase).

The entry would be :-

4% VAT A/c -- Dr.
To 4% Input VAT
To VAT Payable A/c

Answer / m.ravi kanth

VAT :value added tax
VAT RATES :4%
12.5%
VAT is calculated on the assesiable value

Answer / anamika sheoran

value added tax is 4% its use for local sales,if you are
sale of rs.10400(including vat) than vat amount is rs.400

Answer / mohan

VALUE ADDED TAX IS 5% ITS FOR USE LOCAL SALES, IF YOU ARE SALE OF OTHER STATE,TO 2% CST, C"FORM AGENITS,BUT PARTY HAS NOT ISSU C".SO FULL RATE CHARGEBALE 5% VALUE ADDED TAX.

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