VAT a Relief! VAT means less number of taxes and paperwork.
Whether you like it or not, you have to live with VAT. To move with the times, you need to know how it is different from Sales Tax and how it will affect traders, industrialists, exporters and consumers. Here is the basic picture. Once you appreciate it, you will have a better idea of the big picture of VAT.
We will not stumble. We will not falter. We will not fail. We will make a success of VAT.
–Finance Minister, P. Chidambaram
The most important and far-reaching tax reform in India since independence is VAT or Value Added Tax that ...