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Y 
Income tax
Wealth tax
Property tax etc.

Y 
Sales tax
Vat
Excise duty
Custom duty etc.
IN ACCORDANCE WITH THE CONSTITUTION
OF INDIAN GOVERNMENT
THE MAIN TAXES/DUTIES THAT THE UNION
GOVERNMENT IS EMPOWERED TO LEVY
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PRINCIPAL TAX LEVIED BY THE STATE
GOVERNMENT
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-Excise duty is an
indirect tax levied and
collected on goods
manufactures in india .
¬  

a Sales tax is a tax on the


supply of goods and certain
services ,it is charged at the
time of sale and then
deposited in the
Government treasury.
¬  

   
a gricultural Products
a Most Of Pharmaceutical Products

a Educational & Scientific Materials

a Equipment For Fighting IDS & C CER


¬  

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a Sales Tax Revenue To States
a Tax Collected In The Sated Where Movement Of Goods
Commences
a Tax On Inter State Sale Of Goods
a State Sales Tax Law pplicable In Many spects
a CST ct Defines Some Concepts
a Declared Goods
, 
, ,,
 
¬  
ccording To S3,  Sale Or Purchase Shall Be Deemed To Take
Place In The Course Of Interstate Trade Or Commerce In The
Following Cases:

^ When The Sale Or Purchase Occasions The Movement


Of Goods From One State To nother

^ When The Sale Is Effected By  Transfer Of Documents


Of Title To The Goods During Their Movement From One
State To nother
+  
 ¬
a Existing Goods Or Future Goods
a In Most Of The Cases Related To The Sales Tax

a Under The Provisions Of Same State Laws

a  Quarter Return Of Sales Or Purchases

a Concerned Sales Tax/Commercial Tax Officer

a pply For Registration nd Obtain  Registration




-
¬ -
a Vat Means Value
dded Tax
a Vat Paid By Dealers On
Their Purchases Is
Usually vailable For
Set-off gainst The Vat
Collected On Sales.
-  

It Will Replace The Following Four


Existing Taxes:
a The Bombay Sales Tax ct, 1959
a The Maharashtra Sales Tax On The Transfer Of
Right To Use ny Goods
a Bombay Sales Of Motor Spirit Taxation ct,1958
¬  -

a VatIs  Modern nd Progressive Tax


System ow Used In Over 130 Other
Countries.
¬  -
a It Is Simple, Transparent nd Progressive
a Business Friendly System Of Taxation
a Reduction In The umber Of Tax Rates To Only Two
Main Rates ² 4% nd 12.5%
a Reduction In The Effective Tax Rate For Many Goods
a Elimination Of ´Tax On Taxµ Existing In The Sales Tax
System
a Simplification Of Tax Forms nd Procedures
¬  

 -
VT PPLIES TO LL TYPES OF BUSI ESS I CLUDI G:
a Importers
a Manufacturers
a Distributors
a Wholesalers
a Retailers
a Works Contractors
a Lessors
¬- 
a Vat Is ot  Cost To The Dealers

a Vat s  Separate mount On  Bill Or Cash


Memorandum
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  -
  -

Dealers Who re Required To Be Registered For


Vat Must:
a Change nd Collect Vat On Their Sales Of Taxable Goods
a Issue Proper Tax Invoices
a Keep Proper Records nd Books Of ccount
a Calculate The Vat To Government Based On Vat
a File Vat Returns On  Regular Basis Declaring Their Vat
Liability
¬ -
Under The Vat, The Tax Rates Have Been Simplified:
a 4% For Items Consisting Mainly Of Raw Materials
Used In The Manufacturing Process
a 12.5% For ll Goods Unless They re Listed Under The
Other Rates.
a Foodgrains Including Pulses, Milk, Vegetables Books
are ot Subject To Vat.
    
    
  

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a ´n income tax is tax levied
on financial income of
person co-
co-operation or
other legal entity.µ

 
a Personal Earnings
a Capital Gains
a Business Income
a Rates For Different Types Of Income May Vary nd Some
May ot Be Taxed t ll.
a Capital Gains May Be Taxed When Realized
a Business Income May Only Be Taxed If It Is Significant
a Personal Earnings May Be Strictly Defined
a Tax Rates May Be Progressive, Regressive,or Flat
a  Progressive Tax Taxes Differentially Based On How Much
Has Been Earned
a Personal Income Tax Is Often Collected On  Pay-as-you-
earn Basis
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a Extremely Complex
a Requiring Detailed Record-keeping
a Lengthy Instructions
a Complicated Schedules
a Worksheets nd Dorms
a It Can Penalize Word
a Discourage Saving nd Investment
a ot Border-adjustable
 +
a Section 4 Of The ct States That-
a Income Tax Shall Be Charged
a t The Rates Laid Down By The Finance ct
a For That ssessment Year
a In ccordance With Subject To The Provisions Of This ct
a In Respect Of The Total Income
a Of The Previous Year
a Of Every Person
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6Difference Between Market
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Value And Purchase Price On
Vesting Date7
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