Taxation Question:
Download Questions PDF

What is the difference between Sales Tax and VAT?

Answers:

Sales tax, as compared to VAT is the percentage of revenue
imposed on the retail sale of goods. Unlike VAT, sales tax
is levied on the total value of goods and services
purchased.

Vat is imposed on value addition of goods, but sale tax imposed on sale value of goods. vat system avoid the cascading effect. Which means tax on tax

Download Taxation Interview Questions And Answers PDF

Previous QuestionNext Question
Suppose if we are not able to issue F form and Goods transfer treat as deeded sale and want to paid taxes on that sale. but local tax rate is Zero. in above situation I can transfer of goods without F Form and Without paying any tax?What is Sale in Transit Transaction and what are the forms issued and get form parties?