In LS Central India, VAT (Value Added Tax) is managed as part of the comprehensive tax management system, which is tailored to meet regional tax regulations, including GST (Goods and Services Tax) after its implementation in 2017. Since GST replaced VAT in most cases, VAT is now limited to certain items in India, like petroleum, alcohol, and so on.
This article provides information about tax types that a tax authority can levy in the same jurisdiction or a different jurisdiction. Calculation and posting of this type of tax to G/L Accounts.
See also
Tax Information (Transaction Register)