CST RATES
This query is : Resolved
16 May 2008
Is there any changes Done by the finance ministry in CST Rate instead of 3%
Is there any changes Done by the finance ministry in CST Rate instead of 3%
CA Hemant T Dewani
(Expert)
16 May 2008
No.CST-1007/1/Adm-3/Adm-5
Trade Cir. No.14 T of 2008
Mumbai, Dt.15.04.2008
Sub: Rate of tax under Central Sales Tax Act, 1956 from 1.4.2008.
Gentlemen/Sir/Madam,
In his speech on the Budget Estimates the Hon’ ble Union Finance Minister has declared that the rate of Central Sales Tax will be reduced from 3% to 2% from w.e.f. 1st April 2008. However, the Notification regarding reducing the rate of tax from 3% to 2% has not been issued so far by the Union Government. Therefore, rate of tax under Central Sales Tax continues to be 3%. It is hereby made clear that dealers should continue to collect and pay Central Sales Tax @ 3% on their inter-state sales from 1st April 2008. Any change in the applicable rate will be brought to the notice of the trade.
Trade Cir. No.14 T of 2008
Mumbai, Dt.15.04.2008
Sub: Rate of tax under Central Sales Tax Act, 1956 from 1.4.2008.
Gentlemen/Sir/Madam,
In his speech on the Budget Estimates the Hon’ ble Union Finance Minister has declared that the rate of Central Sales Tax will be reduced from 3% to 2% from w.e.f. 1st April 2008. However, the Notification regarding reducing the rate of tax from 3% to 2% has not been issued so far by the Union Government. Therefore, rate of tax under Central Sales Tax continues to be 3%. It is hereby made clear that dealers should continue to collect and pay Central Sales Tax @ 3% on their inter-state sales from 1st April 2008. Any change in the applicable rate will be brought to the notice of the trade.
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