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| *Ostroff, Fair and Company>>>India Taxes |
Is there any benifit people r getting by vat? |
Is there any benifit people r getting by vat? not at all The same "benefits" people get from any taxes. That money goes to your country's treasury, and the government spends it as they see fit. Since you live in a democracy, presumably the people spending the money were elected. If you don't ;like what they are doing with it, vote them out! VAT is another way of pick-pocket of the people. You can't get any benefit out of VAT but get the ultimate taxed multiplications on you. VAT? Actually, I am in favor in the US of creating VAT...or some sort of consumption tax. If I buy stuff, I pay tax. If I don't, then I won't. It helps the people with less income cause they don't buy that much stuff....we could even exempt food and medical and housing from VAT. It tends to hit the people spending money on higher end consumer products. I like the idea. Who would it help? It is a tax. It helps whoever benefits from taxes...in the US taxes pay for federal highways, military, state parks, space research, some education, emergency response stuff, etc...so, i guess everyone in the US could benefit in some way from taxes...but that has always been true. It would be nice to stop some of the things like estate tax and capital gains tax...and property tax...and reduce income taxes...and lean on consumption for our revenues. YES - Transparency and plugging the revenue loss of government. The tax evaders cannot escape now and this will result in increase in government's revenue, whill will take the nation to new heights. - VANDE MATARAM VAT or value added tax is a new type of taxation tha has been accepted all over the world. Initially goods were taxed on the their first sale in a state. now you have to pay tax even for every subsiquent sale. but you can deduct the amount already paid from the amount that you have to pay. take an example of cenvat. suppose you have some chilly worth 1000 exclusive of tax. u need to sell it as chilli powder. earlier you need to pay tax while buying chille say 10 % ie 100. now the value of your product is 1100 plus some labor charges . hence suppose you cost 1500 total............if you need know exactly write me at princekkannur@yahoo.com |
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