Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


what is the difference between CST, VAT, SALES TAX, EXCISE
DUTY, CUSTOMS DUTY

Answers were Sorted based on User's Feedback



what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / snehit

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

Is This Answer Correct ?    541 Yes 114 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / prafull

Excise duty is payable on goods manufactured within India
subject to exsiable material.

Is This Answer Correct ?    251 Yes 48 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / gaurav

CST is levied on the INTER STATE sales of goods.

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.

Is This Answer Correct ?    216 Yes 33 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / ashwini

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.

Is This Answer Correct ?    101 Yes 31 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / arun sajwan

Excise Duty is applicable only for the Manufacturers.
However the Traders applies Modvet on Goods they sold.

Is This Answer Correct ?    67 Yes 32 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / ruchi

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.

Is This Answer Correct ?    38 Yes 15 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / ravi

VAT - vat is a form of sales tax which is collected in different stages of transactions like buying and selling of
goods & services the input tax is rebated against the out put taxis called vat


CENTRAL SALES TAX - central sales tax is of two types intra &inter intra sales means the purchase & sale with in the state,inter state means the purchase &sale between two different states

EXCISE DUTY - Movable & marketable, when the goods are passing the gate of a company excise duty must be paid such goods only permitted to pass out of the gate


SALES TAX - Sales tax was there before and know vat concept
has been come in to force for the welfare of prompt tax payers

CUSTOMS DUTY - Generally customs is levied on all imports &exports

Is This Answer Correct ?    22 Yes 5 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / sanjeev kumar singh

CST - Tax paid for produce, and to be sold out-side the state.
VAT - Tax payable for produce and sold within the state.
SALES - It is generally replaced by the word VAT (Value
Added Tax).
EXCISE - Tax paid by the manufacturer on produce of a product.
CUSTOMS - Tax paid by the 'Purchaser' (An Individual,
Company or else) for 'Import of Goods'.

Is This Answer Correct ?    22 Yes 7 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / punit kansal

vat is charge on product & adjust the input vat and vat
collected by state goverment

sales tax is charge on sale of product and not refundale
and collected by central goverment

Is This Answer Correct ?    15 Yes 6 No

what is the difference between CST, VAT, SALES TAX, EXCISE DUTY, CUSTOMS DUTY..

Answer / r.gowri

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.

Is This Answer Correct ?    16 Yes 8 No

Post New Answer

More Taxation Interview Questions

Books printing is exempted of VAT in A.P. India ? please tell

1 Answers  


Pl give the abstract details of Karnataka VAT Payment procedure, rebating, returns filing in connection of manufacture, distributer & retailer.

0 Answers  


what is PBT? FBT? how they are calculated?

1 Answers  


what is excise return, what is form requirement and what is procedure for excise return?

0 Answers   ABC,


Under what circumstances Deferred Tax Liability or Deferred Tax Assets entries to be passed ? or what is the advantage by passing the above entries ? How the above entries to be nullified / reversed ( with examples please )

2 Answers  






how to get a TIN number of the party in madhya pradesh whereas i puchase good in west bengal

0 Answers  


How can deduct tds from auction cases (timber)

0 Answers  


1.meaning of income tax,service tax,central excise,esi7pf 2.methods of filling above taxes? 3.methods of payment of taxes?

0 Answers  


If suppose we wrongly deduct the TDS on professional fees then what to do?

2 Answers  


what r the deductions from salary ?

27 Answers  


what is the journal entry of outstanding wages ?

27 Answers   ABC, OBI,


sub hadding no. scrap & Wastage in corrugated box

0 Answers  


Categories