Difference between GST and VAT

 

Difference between VAT and GST



Difference between GST and VATWhat is VAT? How does GST work? How to distinguish between GST and VAT?


The full form of GST is Goods and Service Tax. The elaborate form of VAT is Value Added Tax.


VAT is charged on sale of goods immediately up on preparation of Sale Invoice or immediately when goods are moved for sale. GST is charged on goods and services at the end stage of distribution of goods. Many indirect taxes including VAT are being eliminated and merging with GST.


Details on GST and VAT are mentioned separately in simple terms, smooth language to make everybody understand easily in this web blog. You may click below links to know more:


What is GST?


What is Value Added Tax, VAT


In this post, difference between GST and VAT is explained briefly with simple terms and easy language.



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