What is the Difference Between Sales Tax and VAT ?

Answer Posted / raj

sales tax was the central govt tax but vat comes under
state govt

Is This Answer Correct ?    12 Yes 12 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is casual receipt? is it exmpted in income tax?

3343


Suppose you buy a one-year government bond that has a maturity value of Rs.1000. The market interest rate is 8 per cent. (a) How much will you pay for the bond? (b) If you purchase the bond for Rs.904.98, what interest rate will you earn from this investment?

1564


Tell us how can you define departmental accounting?

576


Were i have to enter for agreements in tally and in which ledger it will come

1208


what is the difference between profit center area and business are.? please make me clear.

1976






Can CPF share given by govt. added in the Financial gross salary while calculating Total gross salary at the end of Financial year.For eg: My gross salary is Rs.X during a Fin. year & govt share of CPF is Y then Total Fin. Year gross salary is =X+Y,is it correct?

1799


What is the purpose of financial statements?

615


non cash or bank income or expense

1318


Which kind of transactions are not recorded in the books of account?

1422


correction of sundry creotors

2170


what is profit and loss(dr) in cash flow statement?

1552


what is windows dressing final accounts?,sales a/c belongs to which a/c type?

1619


Why TDS not Deducted on Service tax amount of Rent.

1792


can any accountant forward format of daily or monthly mis format for accounts and finance dept!!

1420


whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf

1361