No trader shut his shop because VAT replaced Sales Tax.
Now introduced in almost all the states of India, VAT is here to stay. So it is important to get a good overview of how this tax works. Here are the benefits and the problems of VAT in the first year after it was introduced. If you want to know how to work with VAT, start with chapter three.
Chapter 1: VAT’s Happened a Year Later?
I am happy to note that many states, which initially kept out of VAT, have opted to join the system. Moreover, revenues have been buoyant setting at rest worries about its feasibility. Based on this experience, we need to move towards ...