Written on Nov, 29, 2012 by in

WHAT IS VAT CALCULATION OF TAX LIABILITY UNDER VAT SYSTEM C FORM UTILIZATION OF INPUT TAX FAQ – SALES TAX RELATED TERMS: Learn Accounting, Free Accounting Tips General Accounting Terms General Tips Relating to Indian Income Tax Act Free Tally Learning GENERAL TIPS RELATING TO SALES TAX – VAT Others

Written on Nov, 29, 2012 by in

VAT or Value Added Tax is another name of sales tax which is charged on sale of goods. But, we can define the VAT as a multi-point tax on value addition which is collected at different stages of sale with a provision for set-off for tax paid at the previous stage/tax paid on inputs.  In simple words the VAT is …


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