vat exemptions

  1. A

    EXEMPTIONS IN VAT

    EXEMPTIONS:- The schedule does specify certain goods attracting nil rates of tax or exempt goods. Other than those, there is no specific or general exemption, as was the position under the sales tax regime The government may have a power to notify exemptions and appears to be limited. To...
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  2. A

    SALES AND PURCHASE FUNCTION IN VAT

    Sale And Purchase Under VAT. EVENT OR TRANSACTION, WHICH ATTRACTS TAX Value Added Tax is: • on sale or purchase of goods • by a dealer, in the course of business • for a consideration • payable on turnover of sales or purchase • at every...
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    • function functions in organisation functions in vat importance of vat purchase purchase function sales sales function vat vat exemptions
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