what is vat?
what is excise?
what is form c & d in sales tax?
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Answer Posted / ritesh
value added tax called vat,registered dealer charged tax to
purchaser and deposit the same in sales tax department,there
are so many rates are defined from sales tax department.when
sales within state, dealer charged vat tax and out of state
dealer charged cst @2% with form "c".so we can say form "c"
is a documents for tax saving within interstate business.
Example :-
if material purchase within State and item tax rate is 12.5%.
Item amt. :- 100.00
Vat @12.5% :- 12.50
Total purchase value is 112.50/-
if material purchase out of state (cond. dealer and
purchaser both are registered )
Item amt. :- 100.00
CST @2% against form "c" :- 2.00
Total purchase value is 102.00/-
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