How it decide vat 4%, 5%, 12.5%..??

This query is : Resolved

Jagjeet Singh (Querist)
Follow

03 August 2012 Our one local supplier who engaged in supplying stationery & housekeeping materials he charge Vat @4% on bills or some bills they charge Vat @5% or sometime 12.5%

How it decide ..?? n how can we cross check ??

shibu

shibu (Expert)
Follow

03 August 2012 Refer schedules of rate of tax of relevant VAT Act

RENGARAJ R.K

RENGARAJ R.K (Expert)
Follow

03 August 2012 Each State VAT Act has listed number of commodities in various Schedules for exempted goods, 1% 4or 5% and rest of the commodities are general goods applicable for 12.5% now it is 14 or 14.5% according to the state.

You can cross verify the rate of tax in the schedule and if the products are not listed in the 4or5% category it will be charged higher rate of tax.

Whenever a query is raised, if you tell us your State, it will be better for us to refer the relevant provisions/Acts.

Jagjeet Singh

Jagjeet Singh (Querist)
Follow

03 August 2012 Sir, I am from Pune , Maharashtra

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok