pinkesh vat final
TRANSCRIPT
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SURVERY OF RETAILERSAND THEIR PECEPTION
ABOUT
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VAT replaced sales tax on 1 April 2005. Of the 28 Indian states,
eight did not introduce VAT. Haryana had already adopted it on 1 April
2004.
Due to the federal nature of the Indian constitution, the states do have the
power to set their own VAT rate.
OECD (2008, 112-13) approvingly cites Chanchal Kumar Sharma (2005)
to answer why it has proved so difficult to implement a federal VAT in India.
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Tax rates
CountryStandard
rateReduced rate Local name
India 12.5% 4%, 1%, or 0%VAT = Valued
Added Tax
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VAT ( Value Added Tax)
This is the new system being
implemented from April 1, 2005in A.P and other states.
Unlike, Sales Tax, VAT is
calculated based on Input &Output variation.
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INPUT TAX
Input Tax is the Tax shown in our purchasebills.
As per the norms, every trader need to showTax separately and it is considered as Input Tax.
Apart from Trade Purchases, Tax on Capital Goods
purchases like A.C., Computers etc.. is also considered
for this Input Tax.
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OUTPUT TAXOutput Tax is the Tax charged on all the Taxable sales of
a Vat Dealer.
For Ex. Tax shown by us our Output Tax and it becomes
Input Tax for our customer.
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Below 5 Lakhs turnover No Tax & No.
Registration required.
5 40 Lakhs TOT will apply & VAT isoptional.
Above 40 Lakhs VAT will apply.
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There are three main rates for Input and OutputVat tax.
0% for Agriculture products.
1% for Jewellery
4% for Pharma, Computers, Soaps etc.
12.5% for FMCG, Automobile
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A DVD manufacturer spends Rs.100 on raw
materials and uses them to make a DVD.
The DVD is sold wholesale to a DVD retailer for
Rs.120, making a gross margin of Rs.20.
The DVD retailer then sells the DVD to the
consumer for Rs.150, making a gross margin of
Rs.30.
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In Baroda city,
Vat is good for all.
(For customers, manufactures, and retailers)
Your work will be legal and white (transprant),
There is no tax in the business of fabric, but
In the readymade garment VAT (4%,+1%)will be there,
for fabrics, the company decide the price of a product in
that price,VAT will be included, it will be show in the invoice bill.
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As per his view point,
If they purchase any kind of materials In Gujarat, so they have to
pay 4% as value added tax. That is call GST( Gujarat sales tax).
If they purchase any goods out of Gujarat 2% VAT will be there ,a
That is call CST( central sales tax)
Vijay jain,(9825566633)
Vardhman textorium,
Raymond,baroda.
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In Baroda city
VAT is not good at all
Because of vat all manufacturing channels selling their products
In high price.
It is use as salary of government employee, because of vatGovernment employee become millionaire, because high-level
Of corruption is there in whole Indian politic system.
Proper utilization of tax is not in India, all money
which government collect on the name of taxies ,that money
went to ministers bank accounts.
VAT only reach to government when shopkeeper give original
Bills To customers, otherwise that money went to shopkeepers
pocket
That money will not be reach to government.
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In India 50% retailer are not give original bills to the customers.
It is reflect in government income, penalty systems is there butBecause of corruption, system not working as per the law of India.
in our shop company gives us a software for bills, so we can not
cheat the government. Our work will be legal.
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InB
aroda city.
vat must needed, because government get
income.
That money use for development of nation.(indefense, infrastructures like roads, highways,
over bridge, dams,
government school. College etc. hospitals and
organization etc.
poor and needy people get education, foods,
and employment (roti,kapda aur makan).
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During the time of war and natural calamities this tax
will be useful.
Collecting Vat is rights of Indian government.
government collect that money from public .
Government give that money back to public on the name of
Development
Milan jain,Bhavin,liverpool,
Baroda.
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In wagodiya.
On the business of more than 10 lakhs VAT should be payable.
Normally small shopkeeper didnt pay vat,
Mostly in villages shopkeeper pay octroy, and panchayat
collect it .
He gives one example:-
Price of tirupati oil of 5litter on price tag from manufacturing its
Rs.495.same product available in bigbazar at Rs.465,and in ourshop price of tirupati oil is Rs.450.
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From different state percentage of vat are not same.
In Gujarat percentage of vat(4%) is high compare to otherstate.so from his point of view percentage of vat for all 28
states will be same.
in Gujarat BJP collect more vat compare to other states, which
become burden for public.
Original bills system is the best way to collect the vat.
Ajay bhai,Ramanlal maganlal pola,
General provision store,
Wagodiya.
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In wagodiya.
Form his point of view he is very happy with vat but he is
not at all happy why medical products are included vat.
If basic necessity product like vegetable, sugar, fruits, milk,
etcare free from vat why tax been impost in medicine.
He agree about one thing vat is good for government is one
Kind of tools for collect income money.
We have to follow rule and regulation of government.
There is no vat in textile thought it is costly, so vat shouldBe collected from all the products and it should be equal.
Owner of general provision store and readymade cloth owner
They never give you original bill of products.
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Today, I pay tax by forcefully because it is compulsory and statutoryRequirement .
If government do their work properly and honestly, so I feel very happy
To pay a tax.
What ever money I pay to government it should be use for noble cause.
We pay tax for public welfare but that money has been used for the
Welfare of minister.
Rajubhai,
Akash medical store,wagodiya.
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