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Reg. VAT

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(Querist)
23 April 2009 What is VAT in breif?

Where it is applicable?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
23 April 2009 Please dont mind...you seems to be new in finance field.

VAT is Value Added Tax. It is tax chared by the registered
dealer at the time of sale of goods just like Sales Tax. A
vat dealer can claim credit of vat on good purchased by him
just like excise duty.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
23 April 2009 value added tax called vat,registered dealer charged tax to
purchaser and deposit the same in sales tax department,there
are so many rates are defined from sales tax department.when
sales within state, dealer charged vat tax and out of state
dealer charged cst @2% with form "c".
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