18 January 2010
What is the rate of Vat on Software products and software equipment . what are the changes? And when from it has been changed? Is it effects from 15.01.2010 means we have change the Printed Invoices?
18 January 2010
The rate of VAT applicable in AP @ 12.5% has been increased to 14.5%, with effect from 15.01.10. I could not understand the nature of software products and software equipment. If such items were taxable @ 4%, no change is required. If such items were taxable @ 12.5%, VAT would have to be paid on the higher rate.
CAclubindia
