by Audit Analyst | Jan 19, 2026 | Value Added Tax
Overview of VAT on Imports VAT is applicable to imported goods when they are brought into a state for sale, use, or consumption Although Customs Duty and Countervailing Duty (CVD) are levied at the national level, VAT is imposed by the state VAT is charged on the...
by Audit Analyst | Jan 19, 2026 | Value Added Tax
General VAT Treatment of Exports Exports of goods are generally not subject to VAT under most state VAT laws in India Such transactions are categorized as zero-rated sales, meaning tax is levied at 0% Though VAT is not charged on the invoice, the dealer is still...
by Audit Analyst | Jan 19, 2026 | Value Added Tax
General Definition of Goods under VAT Under VAT laws, “goods” refer to all kinds of movable property that are involved in trade or commerce The term includes tangible products that can be bought, sold, transferred, or exchanged Goods can be manufactured,...
by Audit Analyst | Jan 19, 2026 | Value Added Tax
VAT on Food Products VAT was imposed on food items at different rates based on processing and branding Essential and unprocessed food items were largely exempt to protect low-income consumers Processed, packaged, and branded food products attracted standard VAT rates...
by Audit Analyst | Jan 19, 2026 | Value Added Tax
Meaning of Exempt Goods under VAT Exempt goods are items on which no VAT is levied or payable, as notified by state governments These goods are included in the exemption list or Schedule I of the respective VAT Acts No input tax credit can be claimed for purchases...
