what is vat?
what is excise?
what is form c & d in sales tax?
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Answer Posted / krishna kumar
Vat is "value added tax". It is applicable only on
ragistered delars. They purchaging and saling the products.
Exp.
Product cost by manufacturer---100 Rs.
Delar has to pay to manufacturer
100 + Excise Duty 10.5(Only for manufacturer)=110.5
Rs.
Then delar will sale the product
(110.5+profit"8 Rs.")*1.04=123.24 Rs.
here .04 is vat applicable.
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