How to know a vat rate on a particular chemical?
This query is : Resolved
vishal shah
(Querist)
15 October 2011
i want to know the vat percentage on nano particals, how can i know it? or how much i should charge to my clients?
MJ Krishnamurthy
(Expert)
16 October 2011
Mr Vishal Shah,
If the nano particals are used as industrial inputs, there is a detailed schedule(within III schedule entry no 51)of KVAT Act200,please check up whether this producct is included any where. I could not find it in the list of industrial inputs.so it is taxable @14%.if you find that nano particals are included in one of the categories of chemicals mentioned in the above list then it is chargeable @5%.
If the nano particals are used as industrial inputs, there is a detailed schedule(within III schedule entry no 51)of KVAT Act200,please check up whether this producct is included any where. I could not find it in the list of industrial inputs.so it is taxable @14%.if you find that nano particals are included in one of the categories of chemicals mentioned in the above list then it is chargeable @5%.
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