1) VAT is a tax levied and collected on the value added to any goods each time they change hand
2)The transaction shall a sale
3)Sale shall be made by a registered dealer
4)VAT shall be payable at every point of sale
5)Input tax credit shall be admissible on the input tax paid in respect of previous purchases
6)Output tax shall be collected on every sale
7)VAT is applicable for intrastate trade
8)VAT ensures with uniform rates and procedures. It ensures transparency and reduction in consumer prices.
2)The transaction shall a sale
3)Sale shall be made by a registered dealer
4)VAT shall be payable at every point of sale
5)Input tax credit shall be admissible on the input tax paid in respect of previous purchases
6)Output tax shall be collected on every sale
7)VAT is applicable for intrastate trade
8)VAT ensures with uniform rates and procedures. It ensures transparency and reduction in consumer prices.
