what is the difference between CST, VAT, SALES TAX, EXCISE
DUTY, CUSTOMS DUTY
- 15 Answers
- 164971 Views
- Bhushan Power Steel, Chill Land, ITC Infotech, Valeo Lighting Systems India Private Limited, I also Faced
- E-Mail Answers
Answer Posted / r.gowri
VAT - VAT stands for “Value added tax” It is a form of
indirect tax, which is imposed on products and services at
different stages of manufacturing. The tax is paid to the
government directly by the producer and cost is passed on
to the consumer.
SALES TAX – Sales tax is levied at the time of the purchase
of the products or services. The tax is collected form the
consumer by the seller at the time of purchase.
EXCISE DUTY – Excise duty otherwise known as special tax.
1. Excise duty is levied for locally produced/
sale/use goods ( Alcoholic Drinks and Tobacco Products)
2. Excise duty is levied on Company’s total income or
revenue.
3. Excise duty is levied on activity/occupation (
Licence fee charged from doctors and other professionals)
CUSOMS DUTY – Custom duty is levied on imports to raise the
State revenue. To protect the domestic industries from the
abroad competitors. It is levied generally on the value of
goods / dimension/weight.
| Is This Answer Correct ? | 16 Yes | 8 No |
Post New Answer View All Answers
we have paid excess tds amount in 194I 27000/- for f.y.2017-18 now can we adjust the same in upcoming month 2018-19?
WHEN I 1ST TIME VAT E-RETURN FILLING WHAT IS THE REQUIREMENT & HOW FOOL FILL THE REQUIRMENT , HOW I GET C FORM THROW VAT E-RETURN FILLING FOR THIS WHAT STEPS NEED FOR ANY REGESTRATION TO GET ID & PASSWORD IF ELSE , PLEASE GIVE ME THE ANSWER ON MY E.MAIL sonidilip87@yahoo.com
Can it be prssible, If any person purchase Reliance life insurance policy with nepal residence address profe. If yes then who can deposit nepal curancy in indian branch.
Deferred taxation is a part of which equity?
How do you plan to achieve these goals?
which form is used for issuance of C Form ,F form etc. from Sale tax Authority (Haryana), when should be apply? what documents to be submitted?
I am a civil Engineer consultant. On an item for example Rs.100, I am adding 4%WCT ie., Rs.4 and I am certifying the contractor bill for Rs.100.00 + Rs.4.00 = Total Rs.104.00. But my client is deducting 4% on Rs.104.00 ie., Rs. 4.16. So, finally contractor is losing Rs. 0.16 on Rs. 100 which amounts to lakhs on the project value. Can you please guide me on this? Santosh Kumar
which items should be covered the Entry Tax by HP Govt instead of Purchased
What r the foll tax deductions for :- 1.TDS 2.WCT Give me answers in detail & give me some addtional info on these topics which would be helpful for me.
What is the commitment to the bankers against L/C ? They need any colletral Security or any deposit ? What is terms & conditions of L/c?
I want PTR Number and I am working professionaly related documents i have but officer asked me to bring any business commencement proof. here,I have no business? so what proof i will give to him.
how can I know the status of the service tax filing of my organisation when I don't have any details except St number. I want to know till what date the returns are filed etc as I have recently joined.
WHAT IS SHEDULE , HOW MANY TIPE OF SHEDULE IN COMPANY & PARTNERSHIP FIRM , WHAT IS IN EACH SHEDULE HEAD CONTAIN , PLEASE GIVE ME THE ANSWER ON MY E.MAIL sonidilip87@yahoo.com
Pls.tell me some website name who display practical question & answers of accounting work. like tds, service tax entry and some more. also provide important knowledge of all taxes.
What are the types of provident funds?
