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Value Added Tax (VAT)
The much awaited Value Added Tax (VAT) has been
introduced in Indian Taxation System from April 1, 2005. Now India is a
part of other 123 countries following VAT which was leaded first time by
UK in 1973. It is said that 4 years is very short period in introducing
VAT in the country as compared to 10 years on an average by other
countries.
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This section covers the complete meaning of VAT
referring to the global meaning as well as the meaning of VAT in
India. Extract has been also taken from history to bring out the
origin of VAT. VAT-The Global Meaning | VAT-In India | Central VAT | Modified VAT (Modvat) |
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Why VAT is needed in India? Will it overcome the
loopholes of existing direct tax system? Will this system make the
traders comfortable? All these has been discussed in this section. |
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Both side of the coin has been discusses in this
section to build up a think tank in you for VAT in India. All the
aspects has been appropriately and with ease is discussed. |
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With the introduction of VAT in India, to minimise
the chaos, we have put forward the items covered in VAT in a tabular
as well as descriptive form to make it more understandable. |
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What will be the impact of VAT among Indian
Traders? How will a product be treated at different steps in the
process of selling from the manufacturer to the final consumer? And
much more... |
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Check out for the states joined hands with the
system and also the eight states still to join. Find out their
details and the expected time for them to welcome VAT in their
territory. |
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The introduction of VAT in India is bringing craze
on certain aspects. People regularly hunt for an appropriate answer
for their questions. We bring you few FAQs in this respect. |
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What ministers are saying? What traders are saying?
What the mass is saying? We are capturing them in their own words in
this section. Check out regularly for latest updates. |
