Vat/sales tax

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2011 Dear Sir

Please tell me the difference between VAT and SALES TAX with example.

Thanks

Mukesh Kumar

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

30 November 2011 On all sort of goods and commodities earlier there was a sales tax applicable on it. However government implements a new way of generating revenue via value added tax or VAT. This is a simple method of multiple taxes on an individual product. There are varieties of Indian taxes such as income tax, cess tax, finance tax and house tax etc. There are total 28 states and 7 union territories in India. Value added tax is applicable on all the states and territories however there is a little variation in value added tax in different part of the country.

There are various tax act as per the state legislation law that are different from state to state. Uttar Pradesh is the largest state in India the government of Uttar Pradesh has drafted an exclusive value added tax law that is termed as "The Uttar Pradesh Value Added Tax Act, 2008" that is passed by Uttar Pradesh legislature in 2008. This value added tax came into existence with effect from 1st January 2008. This works under the guidance of Uttar Pradesh State tax board.

VAT AND SALES TAX ARE SAME.

http://allindiantaxes.com/up-vat.php

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

30 November 2011 https://www.caclubindia.com/share_files/all-about-vat--43084.asp

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