Karnataka Value Added Tax A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting view, by his stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes he had previously paid on the inputs.
Karnataka VAT is a tax collected on the approximated market value of a product at different level of manufacture or distribution. The rate of value added taxes may be differ from goods to goods.The VAT Rate is going on increasing day by day.Visit Here for More Information
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