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Basic knowledge of vat , how we calculate (VAT)

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This query is : Resolved

Author : Anonymous

( Author )
21 November 2011

full knowledge of vat ,calculation of vat,c form in vat calculation , where we use vat, difference between vat and sale tax


RAMESH KUMAR VERMA

( Expert )
21 November 2011

all the details already provide by me before some secong ago, remaining information is given here if you have any problem tell :

http://www.caclubindia.com/experts/basic-knowledge-of-vat-how-we-calculate--822925.asp

about the cst and other information is :

ACTUALLY VAT AND CST IS SAME WORDING,

If the purchases made within the state (@ rate 12.5% VAT) and we sale that item to interstate with CST rate (@4%), please note that at that time Tax input credit is more than output tax, then is it possible to adjust that excess input credit to next month return?
Please clarify these things.
A Bill namely, the Taxation Laws (Amendment) Act, 2007 (Bill No. 13/C of 2007) had been introduced & passed in Lok Sabha in order to further amend the Central Sales Tax Act, 1956.and amendments done by this bill are applicable from 01.04.2007.
The net main effect of the amendments is as follows:-

1. The rate of CST on inter-State sale to registered dealers (against Form-C) shall stand reduced from 4% to 3% or the rate of VAT applicable in the State of the selling dealer, whichever is lower. (Present rate of CST Is 2 %)


for more info:
http://www.worldjute.com/wj_vat.html

http://www.dateyvs.com/cst01.htm



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