MANAGEMENT

Detailed explanation-1: -It is usually charged from buyers at the point of purchase or the exchange of some specific goods and is chargeable at a certain percentage of the product value. Sales Tax is levied by the Central Government as well as State Governments. It is decided by the Central Government basis its tax policies.

Detailed explanation-2: -Sales Tax is a form of tax paid to a governing body for the sale of goods and services. Sales tax is an indirect tax and is generally charged at the point of buy or exchange of certain taxable goods, charged as a percentage of the value of the product.

Detailed explanation-3: -GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

Detailed explanation-4: -Input VAT is the tax that is paid on the eligible purchases made by the dealer. Accordingly, when a dealer is registered under VAT, the VAT liability is to be paid in cash to the state government for a particular month. However, registered dealers can normally claim a credit for VAT charged on most business purchases.

Detailed explanation-5: -Sales tax (ST) is the tax charged by the government on the items sold by the shopkeepers. The tax is then paid by the shopkeeper to the government. Sales tax = Tax% of Bill Amount.