COT
This query is : Resolved
shobha surya
(Querist)
14 July 2016
please tell the expansion of COT & difference between VAT & COT
Amol S Joglekar
(Expert)
14 July 2016
VAT means value added tax which a person needs to pay the government for any kind of value addition done by him.
COT means composition tax which is levied on some category of business like hotel, restaurant etc.
COT means composition tax which is levied on some category of business like hotel, restaurant etc.
shobha surya
(Querist)
14 July 2016
thank you sir
I need d limitations of VAT & COT registration
Amol S Joglekar
(Expert)
15 July 2016
Limitation? the limitation may vary case specific....What is your case instance ?
shobha surya
(Querist)
16 July 2016
interior design & hotel
Amol S Joglekar
(Expert)
17 July 2016
you can go for composite scheme, no problem. You need to calculate VAT as well as COT......you can opt for the one which is beneficial to you
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