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1. How many types of vat?
2. What is the sales tax purpose?
- 31 Answers
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Answer / vishal shukla
There are two type of VAT
1-Input Vat
2-Output Vat
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / riyaz ahmed
There are two types of VAT:
Output VAT
Input VAT
OUTPUT VAT is charged by a business and is paid by its customers. (in this case it is, VAT on its output supplies).
INPUT VAT is paid by a business to another businesses on the supplies that it receives (in this case it is, VAT on its input supplies).
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / bikram mandal
three type of vat ?
1% for any ornament.
4% for Electronic goods and
12.5% for luxury goods
| Is This Answer Correct ? | 30 Yes | 28 No |
Answer / surabhi gupta
there are five categories of Vat-
a) 1%
b) 4%
C) 12.5%
d) 0%
e) Exempted
| Is This Answer Correct ? | 34 Yes | 34 No |
Answer / harmeet kour
there are four types of VALUE ADDED TAXES
1.ZERO %
2.1%
3.4%
4.12.5
| Is This Answer Correct ? | 7 Yes | 7 No |
Answer / mayuri patil
actually in vat there are no types of vat. The difference
is in between methods of varient and rates of vat
A)methods of varient
1.Gross product Variant
2.Income Variant
3.Consumption Variant
B)rates of vat
1)1% - GOLD & PRECAUSIOUS STONE
2)4% - FINISH GOODS
3)12.5% - ELECTRONIC GOODS
4)20% - LIQUOR
5)UP TO 36% - PETROL, DIESEL
The purpose of sales tax
tax wich is the name used by people/govt is sales
tax. after some modications and new methods we, in todays
world called vat. in sales tax system tax is charged
more...i.e. tax on tax
sales tax purpose from governments point of view
sales tax is a reveneu income of state govt. because of
sales tax govt can achive a control on peopl. the tax
evasion comes down. tax collected more by govt.
sales tax from assessees point of view --
assessee can enjoy self assessment. assessee may feel at
some extent relax..etc.
this system is benificial to prompt assessees
and heavily pynishable who makes a frod...
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ravi
THERE ARE THREE TYPES OF VAT
1)CONSUMPTION TYPE OF VAT
2)INCOME TYPE OF VAT
3)GROSS NATIONAL PRODUCT TYPE OF VAT
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / kanchan singh
there are two types of vat
1- input vat
2- output vat
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / chandra prakash sharma
As we know that two type of vat is overhere we can measurement this, input vat which is charge on purchase and out put vat which is charge on sells
| Is This Answer Correct ? | 0 Yes | 0 No |
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