VAT is a multi-point tax on value addition which is collected at different stages of sale. VAT is applicable to intra-state sales. CST is same as VAT and is applicable for Inter-state sales only.
In this episode of “eLagaan Whiteboad Friday”, the eLagaan team explains, the concept behind Value Added Taxes popularly known as VAT & Central Sales Taxes popularly known as CST, who needs it & why it is needed.
The video below explains what are the various returns related to VAT & CST and what records do businesses need to maintain to stay compliant.
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