VAT 0% : Non Taxable

This query is : Resolved

Bhuvaneswaran (Querist)
Follow

16 May 2011 Hai All,

I am working as an accountant for a star categorised hotel. I want a clear clarification that what is the difference between VAT 0% items(like pappdam,sugar & Sugar cube etc) and non taxable items(chicken,vegetables,egg & ice cubes etc).

Bhuvaneswaran.A

U S Sharma

U S Sharma (Expert)
Follow

16 May 2011 vat 0% means these items are rated 0% by certain notification, with one or more condition at the time of sale.

exempted means these items are unconditionally exempted, or not taken for tax purpose under state vat rules.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now