on 06-18-2007 11:42 AM
Dear friends
Q - What is difference between
LOCAL SALES TAX
CENTRAL SALES TAX
VALUE ADDED TAX
With Regards
Sankalp singhai
singhai.sankalp78@gmail.com
local sales tax is charged by state government for sales.
Central tax is charged by central government for all states the tax remain same
Vat is also charged by state government EX If your getting goods from chenni to AP vat is applicable from chenni
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Hi Sankalp,
Local Sales Tax is the tax imposed by the respective state government.
Central Sales Tax is the tax imposed by the Central Government.
Value Added Tax is the tax imposed for the addition of value for that particular material.
hope this information useful.
Regards
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Dear Sankalp Singhai,
Local sales tax & central sales tax. Local sales tax is intra state whereas CST is inter state. VAT is the value added tax which is imposed for the addition of value for a particular product.
Example of LST : Point of sale i.e. delivering plant & ship to party are within the same state. The rates are defined by the respective state governments.
Example of CST : The Delivering plant & Ship to party geographic locations are 2 different states. At the point of sales from one state, the ST goes to that state govt. & consignment is despatched to the Ship to party. Once that consignment is received at the ship to party state, sales tax will be levied once the sales is registered there. For this case, the LST that is applicable by the Ship to party further will not be applicable in all probability to be captured in SAP.
Hope this will help.
Regards,
Naveen.
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