on 01-18-2009 3:38 PM
Hi ,
What is the difference between Tax and Excise duty, and VAT and CST.
can any body explain with example.
Thanks
Kuntla
Dear Kuntla
Tax may be either LST / VAT or CST. Here LST or VAT is applicable if you sell the products within the state whereas CST is levied when you sell a material outside your state.
Excise Duty is a tax levied on the producer of certain goods, commodities and activities. We can say that the excise duty is an indirect tax because the Government does not directly apply the tax. These taxes can be categorized in two ways:
- Ad Valorem - A fixed percentage is charged on a particular good.
- Specific - A fixed dollar amount dependent upon the quantity purchased is charged.
thanks
G. Lakshmipathi
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