YMC & Associates- Top CA Firm in Delhi | Audit & Assurance Services | Taxation Services | Accounting Services | Foreign Direct Investment | Company Formation, Incorporation, Setup, Registration | Post Incorporation Services in India
YMC & Associates: Top Chartered Accountancy & Income Tax, Audit, Online GST Registration, Accounting, Taxation, Company Registration, Incorporation, Setup, Register, open, opening, Formation, Bookkeeping & Writing Services in Delhi NCR India.

Y M C & Associates

CHARTERED ACCOUNTANTS

ICAI Registration No.(Firm) ICAI Registration No. (Firm)
012822N
 
     
   
 

SALES TAX, VAT SERVICES:

Sales Tax is a form of indirect tax paid to government for the sale of goods and services. Sales tax is generally charged at the point of purchase or exchange of certain taxable goods, charged as a percentage of the value of the product. The rate of sales tax depends on the state government policies and varies from one product to another; generally being simple to calculate and collect. In simple terms, the sales tax is an additional amount of money paid while purchasing goods or services.

Value Added Tax (VAT) is a form of sales tax collected by the government (of the state in which the final consumer is located) which is the government of destination state on consumer expenditure. The mechanism of VAT is such that, for goods that are imported and consumed in a particular state, the first seller pays the first point tax, and the next seller pays tax only on the value-addition done leading to a total tax burden exactly equal to the last point tax.

From 1 April 2005, 21 states of India have replaced local sales tax with VAT. The VAT is not much different from local sales tax regime except that it captures value addition at each level of distribution network. The State VAT, as introduced by the states, continues to be a tax on sale of goods and does not include taxation of services. In addition to sales tax, some states also levy additional tax / surcharge, turnover tax or entry tax. Sales tax / state VAT is payable by the seller to the government. Ordinarily, sales tax / state VAT is recovered from the buyer as a part of consideration for sale of goods.

Key sales tax (VAT) services include:

  • Registration under Delhi VAT Act and various state VAT Acts.
  • Registration under CST Act.
  • Online Filing of periodical VAT Returns.
  • Consultancy of various aspects of VAT and CST Act
  • Objections, appeals, revisions, rectification of order.
  • Amendments in Registration Certificates.
  • Consultancies on preparation of records as per VAT Act
  • Refund of tax.
  • Central Sales Tax.
  • Assessment of Firms.
  • Issue of necessary forms

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