Difference between VAT AND EXCISE DUTIES

HI ginius
can any body give the difference between vat and excise duties

VAT is value added tax. a tax levied by the government at the time of sales earlier it was LST ( local sales tax ) this is livied by the state goverments.
ok...example .like if colgae is manufacturing toothpaste and yu are buying it ... so at the time of buying ap[art from the price of material you are payin the vat also.
but wher as excise duty is concerend it is levied by the central excise departments
it is lived on colgate company after it manufactured the product even before selling the toothpaste colgate should pay excise to central excise dept on toothpaste becasue it manufactured it in india ( ofcourse it again collects frm the customer by hiking price )
and excise is calulate don advolrem basis whcih is approx 16% on base price.

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hi
VAT- Value Added Tax
VAT is a sales tax collected by the government (of the state in which the final consumer is located) u2013 which is the government of destination state on consumer expenditure.
Over 120 countries worldwide have introduced VAT over the past three decades and India is amongst the last few to introduce it.
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Difference between VAT AND EXCISE DUTIES

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