VAT or value added tax is the tax which is levied on the VAT registered businessmen. This tax is also levied on the good and services which are imported from countries outside US. VAT is chargeable only when a vat registered businessmen sells to another business or non-business customer. When the VAT registered businessmen purchase the good and service the VAT can be reclaimed. The rates of VAT are of three basic types; STANDARD, REDUCED, and ZERO. There are some good and services which are exempted from the VAT. Vat is charged on the taxable goods and services which are supplied. Or the turnover in a month has increased. In France, the system of VAT was incorporated for the first time in the year 1954. The government derives the maximum amount of wealth from the VAT. The information on VAT can be obtained from the sales tax office. . A person who is having problem in filling up the VAT can take the use of Vat Helpline which is available for the users. The VAT has to be filled by the 25th day of the month or as directed by the sales tax office. Any businessman should be registered with VAT, to fill the VAT online.
To fill the VAT on time the service has been transformed into electronic form. Any businessman can now fill the VAT online at his ease and the time is also saved. Earlier the VAT was filled manually of a written format on paper forms which were available. It was a sheer waste of time and energy as an individual had to stand in long Qs. With the Vat Helpline in support to help the users in filling the VAT online has made it user friendly and easy to use and excess. For submitting the VAT returns online the most important thing which is to be done first is to get registered with the online VAT site. Once registered with the site, it sends automatic reminders on when to pay the VAT. This helps keeping in mind the date of filling the VAT. VAT has been designed for all the industries and all sort of businessmen.
