What is connection of sales tax calculation.
This query is : Resolved
26 July 2013
Dear expert,
please provide guidance for sales tax background and what is sales tax in real term. why cst is 2% and Vat is 5%?
please provide guidance for sales tax background and what is sales tax in real term. why cst is 2% and Vat is 5%?
RENGARAJ R.K
(Expert)
26 July 2013
Dear Ankur,
CST : means Central Sales tax i.e materials are moved from one state to another state and therefore based on the local rates the CST is collected @ 2% against C forms.
VAT: VAlue added Tax 5% .This is collected for intra sale means within the state and every seller has to collect 5% till it reaches the consumer.
CST : means Central Sales tax i.e materials are moved from one state to another state and therefore based on the local rates the CST is collected @ 2% against C forms.
VAT: VAlue added Tax 5% .This is collected for intra sale means within the state and every seller has to collect 5% till it reaches the consumer.
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