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Vat rates

VAT (Legacy) 1491 views 1 replies

I WISH TO KNOW CAN ANY BODY EXPLAIN WHAT IS THE RATE OF VAT IN KARNATAKA FOR GOLD COIN OF 22 CT AND 24 CT. SOME DEALERS ARE CHARGING @ 2% WHILE OTHER ARE COLLECTING @ 1%.

Replies (1)

Actually speaking the VAT rates are 2 percent for gold and silver articles w. e. f. 01.04.2011. From the below links you can assure yourself that gold and silver articles are VATable @ 2%

 

https://www.deccanherald.com/content/140705/gold-jewellery-cost-more-certain.html

(refer para 4),

https://www.dnaindia.com/money/report_gold-jewellery-to-cost-more-certain-vat-rates-raised-in-karnataka_1512285

(refer para 7)

 

Thanks.!!!


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