Reg Vat

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Ramshankar

Ramshankar (Querist)
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23 April 2009 What is Vat?

What is the current rate?

taxindiaconnect

taxindiaconnect (Expert)
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24 April 2009 VAT is value Added tax and is leivable on the value of sales made by a dealer at the point on each sales till it reaches in the hands of the final consumer. The intermediary dealer gets the a credit of the VAT on his input purchases.

VAT being an indirect tax and a state subject, the rates for different goods in differnt states may be different.

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