what is vat,meaning,procedure,heads,rates,all form of
vat,when vat is filled,full information about vat?
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vat stands for value added tax.sales tax is redefined &
renamed as a VAT. but central sales tax is remain same name
and applicable as CST. sales tax has two types.
1st- local sales tax that is also called vat.
2dd- central sales tax that is called cst.
filing of return is quaterly for vat & cst.
Rates of vat i.e. LST is 1%,4%,12.5%,20%
1% is used for selling gold silver diamonds ETC
4% is used for selling rice pulse medicine ETC
12.5% is used for cosmetic item ,packed tin food, pac &ked
water & luxurious item.
20% for liquor product.
filling process. -for purchasing
form Lp7 for 1%, 4% and 12.5% goods purchasing
for selling LS 9 for 1%,4%,12.5%,20%
Quaterly return form vat R1-its included all purchase during
three month mmention in Lp7 and ls9
yearly return vat R2 details regarding sale and purchase
throughout the year,
timing for filingfor 1st qtr-30july,2ndqtr-30oct and so on.
| Is This Answer Correct ? | 125 Yes | 18 No |
Answer / bharushi@yahoo.co.in
what is vat,meaning,procedure,heads,rates,all form of
vat,when vat is filled,full information about vat?
Question Submitted By :: Vikas.hooda
I also faced this Question!! Rank Answer Posted By
Re: what is vat,meaning,procedure,heads,rates,all form
of vat,when vat is filled,full information about vat?
Answer
# 1 vat stands for value added tax.sales tax is redefined &
renamed as a VAT. but central sales tax is remain same name
and applicable as CST. sales tax has two types.
1st- local sales tax that is also called vat.
2dd- central sales tax that is called cst.
filing of return is quaterly for vat & cst.
Rates of vat i.e. LST is 1%,4%,12.5%,20%
1% is used for selling gold silver diamonds ETC
4% is used for selling rice pulse medicine ETC
12.5% is used for cosmetic item ,packed tin food, pac &ked
water & luxurious item.
20% for liquor product.
filling process. -for purchasing
form Lp7 for 1%, 4% and 12.5% goods purchasing
for selling LS 9 for 1%,4%,12.5%,20%
Quaterly return form vat R1-its included all purchase during
three month mmention in Lp7 and ls9
yearly return vat R2 details regarding sale and purchase
throughout the year,
timing for filingfor 1st qtr-30june,2ndqtr-30oct and so on.
| Is This Answer Correct ? | 60 Yes | 17 No |
Answer / vijay kumar
vat is a indirect tax that is payable state govt.vat is a
meaning value add tax. two type of tax 1.local sales tax 2.
central sales tax.diffrent type of vat form.
1.form c use registed dealer this form use in case of cst
one state to another state 2. form D1 use local registed
dealer. form H use stock transfer one branch to
anotherbranch.
vat rate 1% is use for selling gold silver diamaod etc.
vat rate 4% is use for selling medicine rice pulse etc.
vat rate 12.5 is use for cosmatics products.
central sales tax 2% is use for registed dealer.against
form C
central sales tax
| Is This Answer Correct ? | 21 Yes | 8 No |
Answer / henny singh
vat stands for value added tax.sales tax is redefined &
renamed as a VAT. but central sales tax is remain same name
and applicable as CST. sales tax has two types.
1st- local sales tax that is also called vat.
2dd- central sales tax that is called cst.
filing of return is quaterly for vat & cst.
Rates of vat i.e. LST is 1%,4%,12.5%,20%
1% is used for selling gold silver diamonds ETC
4% is used for selling rice pulse medicine ETC
12.5% is used for cosmetic item ,packed tin food, pac &ked
water & luxurious item.
20% for liquor product.
filling process. -for purchasing
form Lp7 for 1%, 4% and 12.5% goods purchasing
for selling LS 9 for 1%,4%,12.5%,20%
Quaterly return form vat R1-its included all purchase during
three month mmention in Lp7 and ls9
yearly return vat R2 details regarding sale and purchase
throughout the year,
timing for filingfor 1st qtr-30july,2ndqtr-30oct and so on.
| Is This Answer Correct ? | 7 Yes | 5 No |
Answer / +91 9605613405
If i construct a building for an institution with iron rods purchased from a shop worth rs.100000 should i remit vat?
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / manoj rathore
VAT That mains value added tax and is paid to local govt.
aganset our sale.
| Is This Answer Correct ? | 6 Yes | 7 No |
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