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*About tax* ..so in india now a days there is gst apply soo many small business person is in tensed because they dont know what exactly gst is and how to use it
there is 18% tax on product soo they dont understand which option ll they apply composition or value added tax (vat)
so i ll suggest them if your turnover is less than 75lack than go for composition and you have more than 75lack than dont go to composition ..goo with vat only you ll get 0.5% tax and if you ll go with composition than you have to pay 1%tax ..
and some people dont know how tax get return in vat (value added tax) soo i ll tell you that its not come in form of money or cheque but it ll already deposited in goverment account soo next time when you pay tax than they ll reduce deposite amount and take other amount ....
if you have 10000 and government have 5000 deposit soo they ll take 5000 only
1) which one is best composition or vat (value added tax ?
A) if your turnover is more than 75lack go with vat (value added tax )
2) how ll get more benefits ?
A) company and big business
3 )what is cgst and sgst?
A) central government and state government gst its divided
4 ) gst is good for country ?
A) yes as much as tax government ll get they ll be good for country
5 ) can we buy any goods form other states ?
A) yes if seller is in vat