What Is Vat ? Why different vat is charged at different stages ?

@Ganesh44 (5547)
India
March 25, 2012 7:28pm CST
Dear friends What is vat ,value added tax(introduced by Indian goverment) I find it confusing ,why it is different like 4 ,6,10 percent why it is not same in all cases ? Hare Krishna Ganesh
1 person likes this
2 responses
Professor2010
@Professor2010 (20156)
• India
26 Mar 12
Hello Ganesh how are you. VAT is nothing but sales tax, my son has business of computer and electronics goods, he is assigned a number, he deposits the tax there. Best of luck
1 person likes this
Ganesh44
@Ganesh44 (5547)
• India
7 Apr 12
Hello Sir yes VAT is new name for sales tax........ thanks for sharing Hare Krishna Ganesh
samson1967
@samson1967 (7411)
• India
26 Mar 12
Value added Tax is nothing but Sales Tax, which varies from product to products. The percentage also varies from state to state. The rate is different for manufacturers,wholesalers and distributors and the retailers. Hoteliers and service providers has to pay COT (Composition Tax) instead of VAT because they pay on turnover basis.
1 person likes this
Ganesh44
@Ganesh44 (5547)
• India
7 Apr 12
yes dear friend VAT is new name for sales tax........ thanks for sharing Hare Krishna Ganesh