question about sales tax

[Sibaprasad Das]

How sales tax calculated. What is the proceedure of sales tax return.

[CA Rachit Agarwal]

Sales Tax is calculated on the sales value.

The term "Sales Value" is defined differently under the various State Level Acts.

Further as regarding the rates of taxes, it depends on the commodity/item.

Sales Tax Return differs from state to state.

[rishi mohan]

Sir,

Sales tax is a statewise tax and is considered to be a particular state revenue. Sales tax is always levied on the final selling price of the commodity/product. Rate may differ according to the commodity/product. Returns are also filed as per the Sales Tax Act of a particular state. 

 

The term "Sales Value" is defined differently under the various State Level Acts.

Further as regarding the rates of taxes, it depends on the commodity/item.

Sales Tax Return differs from state to state.

AI Summary

Sales tax liability depends on state-defined sales value and commodity-specific rates; filing follows the applicable state law. Sales tax is a state-level levy calculated on the sales value, a term defined differently by each State; tax rates are commodity-specific. Filing obligations, calculation methods and return formats are governed by the respective State Sales Tax Act, so taxpayers must follow the applicable State provisions for valuation, rate application and return filing.