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Please help me

VAT (Legacy) 1017 views 2 replies

WHICH IS TRUE OF FALSE

1) under the addition method , the tax rate is applied to the difference between the value of output and the cost of input

 

2) a spicel VAT rate of 2% is prescribed for precious and semi precious metais.

 

3) Karnataka was the first state to impliment VAT with effect from 1st April 2003

Replies (2)

1.Answer for 1 is false that is done only in Input credit method not in addition method

2.Answer is false it is 1% on precious metals and Stones

3.I am not sure I think it is False

thank u sir

 yes 3rd ans is False ...  In Maharashtra (2002) & Madhya Pradesh(2002) comes 1st


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