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Reduction under Rule 53

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(Querist)
06 July 2009 What is the rate of Reduction under rule 53 of the MVAT ... ? Is it 3% or 2% for the financial year 2008-09? Please qoute the relevant notification No. for refernce...
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Ashok Madhavi

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Ashok Madhavi (Expert)
06 July 2009 It's 2% vide notification no VAT-1508/CR-69/Taxation-1 Dt. 23.10.08
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
07 July 2009 That's applicable from w.e.f 01.06.2008
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