it depends on state to state
Local VAT rate as applicable to particur Goods
Local VAT rate is applicable when the sale is made without form 'C'
difference of tax paid and the rate of tax applicable in the state if for example you have paid the cst 2 % on any item and the rate of tax applicable in the state is 12.50% additional 10.50 have to be deposited In the US the Form C of the 1040 is basically the P&L of the business for a self employed or someone with a business income and expenses. It is, if applicable, not an option to submit it or not, and is an absolute requirement to determine taxable income on the return...it doesn't add tax..or lessen it in itself, but may due either by any amount (including to 0).
CST is an abbreviation for "Central Sales Tax."
Yes, HST (Harmonized Sales Tax) is typically charged on progress billing if the services or goods provided are subject to the tax. Each progress billing invoice should clearly state the HST amount being charged. It's important to check the specific tax regulations applicable in your region, as rules may vary. Always ensure proper documentation for tax compliance.
It is 2 % only as cst is central govt tax
Yes. Professional Tax is applicable in Meghalaya.
Concession sales tax
The CST number, or Central Sales Tax number, is a unique identifier assigned to businesses that engage in inter-state sales of goods in India. It is used for the collection and payment of Central Sales Tax, which is levied by the central government on sales of goods between states. Businesses need to obtain a CST number to comply with tax regulations and facilitate smooth interstate trade. The CST number is crucial for filing tax returns and maintaining proper tax records.
Interstate sales against C Forms are liable for taxation at the rate of 3% with effect from 1.4.2007 and at the rate of 2% with effect from 1.6.2008 and the interstate sales not covered by C Forms were liable for taxation at the local Value Added Tax of goods applicable in selling States. There are no changes in CST rates for 2012-13 and the present CST rates are applicable with effect from 1.6.2008. Reply From: ABHIVIRTHI Tax and Industrial Consultancy R.R.JAGADEESAN VAT PRACTITIONER AND INDUSTRIAL CONSULTANT H-63, Palaami Enclave, New Natham Road, Madurai-625014. Cell: 9994990599
Interstate sales against C Forms are liable for taxation at the rate of 3% with effect from 1.4.2007 and at the rate of 2% with effect from 1.6.2008 and the interstate sales not covered by C Forms were liable for taxation at the local Value Added Tax of goods applicable in selling States. There are no changes in CST rates for 2012-13 and the present CST rates are applicable with effect from 1.6.2008. Reply From: ABHIVIRTHI Tax and Industrial Consultancy R.R.JAGADEESAN VAT PRACTITIONER AND INDUSTRIAL CONSULTANT H-63, Palaami Enclave, New Natham Road, Madurai-625014. Cell: 9994990599
CST TIN is CENTRAL SALES TAX IDENTIFICATION NUMBER. Every firm must have CST TIN Number for making Purchase or saling of products.BijendraSinh Vaghela