Simple comparison betweeen VAT and GST

VAT - is state specific limit 10 L

GST - GST Registration limit 20 L +

VAT - TIN based Registration

GST - PAN based Registration

VAT - Interstate transactions (CST) no Input Tax Credit

GST - Seamless flow of Input Tax Credit

VAT - Declaration Forms like C, H etc are applicable

GST - No Declaration Forms

VAT - Returns by 20th of suceeding month

GST - Returns by 20th of suceeding month but in a phased manner (Sales by 10th, Purchases by 15th and payment by 20th)

VAT - There is no specific mode of payment

GST - Mode of payment if exceeds 10,000 by e-payment, less than is optional

VAT - Immediately after filling avail Input Tax Credit

GST - Once the Supplier pay tax then only seller gets ITC

VAT - No rating for the Business

GST - GST rating based on timely filling of returns & payments..