Vat?
This query is : Resolved
Guest
Guest
(Querist)
06 July 2012
what is difference between zero vat rate & exempt vat rate?
06 July 2012
both rate is prescribed in different schedules.
zero vat rate means vat is applicable but not collect.
Exempt rate means vat is not applicable at whole. but still trader has to register himself.
zero vat rate means vat is applicable but not collect.
Exempt rate means vat is not applicable at whole. but still trader has to register himself.
06 July 2012
Mr Sanjay Gohil,
In fact, both mean the same thing i.e. exemption from tax. Registration is not required if you are dealing only in exempted goods.While selling such goods you should issue a bill of sale and not a tax invoice.....MJK
In fact, both mean the same thing i.e. exemption from tax. Registration is not required if you are dealing only in exempted goods.While selling such goods you should issue a bill of sale and not a tax invoice.....MJK
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