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what is vat?
what is excise?
what is form c & d in sales tax?
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Answer Posted / viveka nandareddy
According to my best knowledge form-c shall issued by the buyer which is registered to registered seller for reduction of VAT burden to the seller
for ex: mr.vivek was a buyer of goods from a.p and mr.raghavan was a seller of goods.here with out form-c mr.raghavan should pay the tax 12.5%.
but if mr.vivek issued the form-c to the raghavan...mr.raghavan can pay the tax 2% on goods
with this automatically reduced the cost of goods...
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