Would like to know what are the slabs at which 4% and 12.5% will apply. What is the minimum and maximum amount in INR that will fall under 4% VAT rate?
What is VAT in simple sense and what are its implications on manufacturers, Distributors, wholesales, retailers and the consumers.
When the buck is totally passed to the consumers why is the middle group creating a fuss about it. And in what terms the government is safeguarding the price of the commodoties to the common man.
I would like to share my opinion , with a bit of experience in vat in a developing afrcian nation,that it will lead to large scale suppression of turnover i.e. output tax in the vast unorganised sector of indian economy, like firms, individuals etc.
typically, there will not be much of an abuse in claiming input credit, since the docs are totally linked.
this is my perception, which may or may not be shared by bureaucrats.
