Updated: 01-09-2019 07:05:33 AM
Value Added Tax (VAT) is one of the major tax reform initiated post liberalisation of Indian economy. Value added tax was introduced into Indian taxation system on 1st April 2005. In India, introduction of state-level VAT taxation has replaced general sales tax structure where taxes on goods are charged at a single point which had resulted in cascading effect of taxes on commodities. We use VAT calculator for calculate net amount.