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Diffrence between vat and gst
Sir, please explain difference between VAT , GST & Excise.
Replies (2)
vat is a state law. excise is excise duty levied on manufacture of excisable goods. gst is goods and services tax, which is yet to come. it's constitutional amendment bill. it will subsume all indirect taxes into one tax. gst has been broadly classified into igst cgst and sgst. igst is integrated gst, central gst for centre and state gst for state
thanks sir
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