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Brief me about sales tax,VAT,MVAT,excise duty,custom
duty,octroi & what is the difference between tax and duty.
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Answer Posted / atul nema
HI
1.SALES TAX has been abolished from every state.
2.VAT is mulitipoint tax n shall ne payable on value
addition on goods before it reaches to the ultimate
consumer.
3.MVAT is the Maharasta Value Added Tax levied by the
Maharastra Government in sale of goods in Intra Sale
Transactions.
4.CUSTOM DUTY when any foreign goods/ articles enters into
India Incoeporation, It will levy tax called Custom Duty.
5.Octrai is a also the tax levied by state Govt.
DIFFERENCE BETWEEN TAX N DUTY.
Duty is payable before making sales.
Tax is leveid on the sales amount means tax is the post
sales excercise.
| Is This Answer Correct ? | 27 Yes | 6 No |
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