VAT 0% : Non Taxable
This query is : Resolved
Bhuvaneswaran
(Querist)
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
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
(Expert)
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.
exempted means these items are unconditionally exempted, or not taken for tax purpose under state vat rules.
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