i was little confused with rates of VAT ..The basic rates of VAT are 12.5% and 4%...
i have visited many restrurent they charge 12.5% vat on their sale..I want to know what is the use of 4% .... who charge 4% VAT..
Himanshu Arora (Articleship) (292 Points)
19 August 2012i was little confused with rates of VAT ..The basic rates of VAT are 12.5% and 4%...
i have visited many restrurent they charge 12.5% vat on their sale..I want to know what is the use of 4% .... who charge 4% VAT..
garg.acu@gmail.com
(garg.acu@gmail.com)
(47 Points)
Replied 19 August 2012
which things whose are mention in schedule, those things are in 4%VAT rates
and other whose are not mention in schedule, those things are in 12.5%VAT rates
Restaurant charge 12.5% VAT, It's right because cooking food is not mention in schedule
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