top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration
Print Preview

What are the limitations of VAT?

+2 votes
8 views
posted Jun 15 by Adarsh

Share this question
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

1 Answer

+1 vote

Limitations of VAT

  • VAT was to be applied in all states but it failed to do so.
  • Inflation rate has been increased due to VAT.
  • VAT has complicated both tariff in customs and excise and Overburdend with more exemptions
  • VAT is regressive :- It’s burden falls disproportionately on Poor people since the poor are likely to spend more of their incomes
  • VAT is too difficult to operate from the position of both the Administration and business.
  • Monthly Return : The manufacturer is required to pay CenVAT on a fortnightly basis and submit a monthly return (ER1) to the Superintendent of Central Excise by the 10th of the month
answer Jun 15 by Sagar Sharma
Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Bangalore-560102
Karnataka INDIA.
QUERY HOME
...