VAT Means Value Added tax
Vat is applicable for Manufacturing items like raw materials , or finished products and semi finished product
VAT is applicable all over india, the company whose is registered sales value across Govt Value that person is applicable
VAT tax is based on the product
1% , 4% , 12.% and 12.50%
From India, Madras
1Vat is applicable for Manufacturing items like raw materials , or finished products and semi finished product
VAT is applicable all over india, the company whose is registered sales value across Govt Value that person is applicable
VAT tax is based on the product
1% , 4% , 12.% and 12.50%
From India, Madras
VAT is levied in lieu of Sales Tax or Commercial Tax. The date of levy in different states is different. Rate of VAT is also slabwise for different commodities.
CENVAT is what earlier Basic Excise Duty used to be. For some years the name has been changed to CENVAT. The credit of Excise Duty which was called MODVAT earlier is now termed as CENVAT Credit.
Service Tax is an indirect tax levied on various services which are declared to be taxable. Technically, there is nothing like CENVAT of Service Tax. However like credit of excise duty which is called CENVAT Credit (Input Credit or Capital Goods Credit), the credit of service tax can also be taken which is more appropriately called Input Service (Tax) Credit and is technically same as CENVAT Credit.
Anything more:confused:? You're welcome. Have a good day:icon1:.
From India, Jaipur
CENVAT is what earlier Basic Excise Duty used to be. For some years the name has been changed to CENVAT. The credit of Excise Duty which was called MODVAT earlier is now termed as CENVAT Credit.
Service Tax is an indirect tax levied on various services which are declared to be taxable. Technically, there is nothing like CENVAT of Service Tax. However like credit of excise duty which is called CENVAT Credit (Input Credit or Capital Goods Credit), the credit of service tax can also be taken which is more appropriately called Input Service (Tax) Credit and is technically same as CENVAT Credit.
Anything more:confused:? You're welcome. Have a good day:icon1:.
From India, Jaipur
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Service Tax.pdf