Tax codes explanation..?
can any body explain me , what is diffrence between VAT or CST deductible and VAT or CAT non deductible in Any tax codes ..
Pls explain me clearly from basics abt the VAT or CST...
srihari VARANASI replied
Regarding VAT and CST what do you need , please clearly tell me
VAT : It may be Deductable or Non Deductable
For some of the items we can availe the credit from Government ie Deductable
Non Deductable means it is adding to the material cost
It will be there in some of the states
CST : In case of CST it is non deductable
Whatever the CST percentile as per the state govt rule the total CST is adding to the material Cost .
Please try to create the condition types accordingly , in case any doubt pls revert back