Tagged: Indirect Tax

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FAQ’s on Service Tax

How much time is taken for the issuance of the Registration Certificate? Answer: The registration certificate should be issued within a period of 7 days from the date of submission of application form, along...

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VAT in Karnataka

VAT in Karnataka is explained in a nutshell below. The VAT act extends to the whole of Karnataka. Governed by the Karnataka Value Added Tax Act, 2003, VAT is applicable on sale of goods...

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VAT in Tamil Nadu

Before proceeding how VAT works in Tamil Nadu let us try to understand, what VAT is and what is the mechanism for levy and collection of VAT. Value Added Tax (VAT) basically is tax...

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Basics of VAT

What is Value Added Tax (‘VAT’)? The etymology behind the term ‘Value Added Tax’ is that VAT is the tax, only for the value added by the seller/merchant. In the old sales tax regime which is...

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Basics of Service Tax

Service Tax forms the second best source of revenue for Government of India after Income Tax but on the contrary, a bane for many, just for the rate.   Let us understand the basics...