Difference between sales tax and vat
This query is : Resolved
15 November 2014
Sir,
Pls tell me the difference between sales tax and vat. Pls clarify with some examples.
Pls tell me the difference between sales tax and vat. Pls clarify with some examples.
15 November 2014
Earlier it was sales tax presently it is vat. For vat you can claim input tax credit.
Manufacturer will be entitled to credit of tax paid on inputs used by him in manufacture. A trader (dealer) will be entitled to get credit of tax on goods which he has purchased for re-sale.
Such credit is not available in sales tax.
Manufacturer will be entitled to credit of tax paid on inputs used by him in manufacture. A trader (dealer) will be entitled to get credit of tax on goods which he has purchased for re-sale.
Such credit is not available in sales tax.
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