Description
Whole history and comparision with BST i.e Bombay Sales Tax.
Name: Kapil S. Sanap
y
Class- MBA 1st Year Topic- VAT College- KSS, IOM, Shikrapur.
y
y
BIOBIO-GRAPHY OF VAT
VAT APPLICABLE INDIA
IN INDIA SINCE 1ST APR 2005.
IS BECOME 123RD COUNTRY IN THE WORLD WHO FOLLOWING VAT SYSTEM.
21 STATE HAVE GIVEN WELCOME HUG TO VAT IN INDIA . ONLY 8 STATE OPPOSE THE VAT UTTAR PRADESH TAMIL NADU UTTARANCHAL MADHYA PRADESH RAJASTHAN JHARKHAND GUJRAT CHATTISGRAH
ADVANTAGES OF VAT
COVERAGE REVENUE
SECURITY
SELECTIVITY CO-ORDINATION
OF VAT WITH DIRECT
TAXATION
DISADVANTAGES OF VAT
VAT IS REGRESSIVE IS TOO DIFFICULT TO OPRATE FROM THE POSITION OF BOTH THE ADMINISTRATION AND BUSINESS IS INFLATIONARY FAVOURS THE CAPITAL INTENSIVE FIRM
VAT
VAT VAT
VAT TAX RATE IN INDIA
1% ON GOLD & SILVER JWELLARY. 4 OR 5% ON INCLUDING 270 ITEMS LIKE BASIC NEED, MEDICINES, DRUGS, AGRO, INDUSTRIAL INPUT, CAPITAL & DECLEARED GOODS. 12.5% ON REST OF THINGS. 20 OR 25% ON WINE.
BOMBAY SALES TAX (BST)
PARTICULARS MANU A PRODUCE + 10% TAX SELLING PRICE B BUY GOODS +ADDITION + 10% TAX SELLING PRICE C BUY GOODS +ADDITION + 10% TAX D CONSUMER 10000 1000 11000 11000 10000 21000 2100 23100 23100 10000 33100 3310 36410 3310 - 2100 1210 2100 - 1000 1100 TAX TAX TO THE GOVT 1000
1100
1210
SELLING PRICE 36410
TOTAL TAX TO THE GOVT
3310
COMPARISION
BST TAX TO GOVT
A MANU + 10% TAX SELLING PRI 1100 B GOODS + ADD + 10 % TAX
VAT
SET -OFF
TAX TO GOVT
A MANU + 10% TAX
10000 1000
1000
10000 1000 11000 10000 10000 20000 2000 1000
1000
SELLING PRI 11000 B GOODS + ADD + 10% TAX 11000 10000 21000 2100 23100 23100 10000 33100 3310 1210
1000
SELLING PRICE C BUY GOODS +ADDITION + 10% TAX
SELLING PRICE 22000 C BUY GOODS 20000 + ADD 10000 30000 + 10% TAX 3000 SELLING PRICE 33000 D CONSUMER 33000
2000
1000
SELLING PRICE 36410 D CONSUMER 36410
3310
3000
Kapil Sanap
doc_419753727.pptx
Whole history and comparision with BST i.e Bombay Sales Tax.
Name: Kapil S. Sanap
y
Class- MBA 1st Year Topic- VAT College- KSS, IOM, Shikrapur.
y
y
BIOBIO-GRAPHY OF VAT
VAT APPLICABLE INDIA
IN INDIA SINCE 1ST APR 2005.
IS BECOME 123RD COUNTRY IN THE WORLD WHO FOLLOWING VAT SYSTEM.
21 STATE HAVE GIVEN WELCOME HUG TO VAT IN INDIA . ONLY 8 STATE OPPOSE THE VAT UTTAR PRADESH TAMIL NADU UTTARANCHAL MADHYA PRADESH RAJASTHAN JHARKHAND GUJRAT CHATTISGRAH
ADVANTAGES OF VAT
COVERAGE REVENUE
SECURITY
SELECTIVITY CO-ORDINATION
OF VAT WITH DIRECT
TAXATION
DISADVANTAGES OF VAT
VAT IS REGRESSIVE IS TOO DIFFICULT TO OPRATE FROM THE POSITION OF BOTH THE ADMINISTRATION AND BUSINESS IS INFLATIONARY FAVOURS THE CAPITAL INTENSIVE FIRM
VAT
VAT VAT
VAT TAX RATE IN INDIA
1% ON GOLD & SILVER JWELLARY. 4 OR 5% ON INCLUDING 270 ITEMS LIKE BASIC NEED, MEDICINES, DRUGS, AGRO, INDUSTRIAL INPUT, CAPITAL & DECLEARED GOODS. 12.5% ON REST OF THINGS. 20 OR 25% ON WINE.
BOMBAY SALES TAX (BST)
PARTICULARS MANU A PRODUCE + 10% TAX SELLING PRICE B BUY GOODS +ADDITION + 10% TAX SELLING PRICE C BUY GOODS +ADDITION + 10% TAX D CONSUMER 10000 1000 11000 11000 10000 21000 2100 23100 23100 10000 33100 3310 36410 3310 - 2100 1210 2100 - 1000 1100 TAX TAX TO THE GOVT 1000
1100
1210
SELLING PRICE 36410
TOTAL TAX TO THE GOVT
3310
COMPARISION
BST TAX TO GOVT
A MANU + 10% TAX SELLING PRI 1100 B GOODS + ADD + 10 % TAX
VAT
SET -OFF
TAX TO GOVT
A MANU + 10% TAX
10000 1000
1000
10000 1000 11000 10000 10000 20000 2000 1000
1000
SELLING PRI 11000 B GOODS + ADD + 10% TAX 11000 10000 21000 2100 23100 23100 10000 33100 3310 1210
1000
SELLING PRICE C BUY GOODS +ADDITION + 10% TAX
SELLING PRICE 22000 C BUY GOODS 20000 + ADD 10000 30000 + 10% TAX 3000 SELLING PRICE 33000 D CONSUMER 33000
2000
1000
SELLING PRICE 36410 D CONSUMER 36410
3310
3000
Kapil Sanap
doc_419753727.pptx