KARNATAKA VAT %
This query is : Resolved
10 September 2010
Hi Freinds,
In karnataka, VAT % changed to 4 to 5% from April-10, but my supplier charged 4% vat for Oil seal & M.S.Nuts & Bolts and S.S. Elbow & Flange. I want to confirm whether it is corret and mentioned goods coming under declared goods.
Regards
S.Subha
Sr.Accounts Officer.
In karnataka, VAT % changed to 4 to 5% from April-10, but my supplier charged 4% vat for Oil seal & M.S.Nuts & Bolts and S.S. Elbow & Flange. I want to confirm whether it is corret and mentioned goods coming under declared goods.
Regards
S.Subha
Sr.Accounts Officer.
CMA Ramesh Krishnan
(Expert)
10 September 2010
No,VAT is 5 % Only. enquire with Suppllier and correct the same
Gagan Agarwal
(Expert)
10 September 2010
In case these goods are falling under section 14 of the CST Act, 1956, the rate of VAT is 4% in Karnataka. Else the tax rate is 5%.
Iron and steel items are covered under section 14 of CST Act.
Iron and steel items are covered under section 14 of CST Act.
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