VAT and CST on natural and precious jem stones

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CA VINAY BANSAL

CA VINAY BANSAL (Querist)

15 March 2011 Hi,

Is there any VAT or CST on the sale of natural stones and precious gems!!

Please help.

Hitender Gaur

Hitender Gaur (Expert)

16 March 2011 In Delhi VAT as per Second Schedule VAT rate on Precious Stones and Semi-Precious Stones is 1%, CST is 2% (As per CST Rules) if you are talking about any other state then please provide the name of state as VAT is very state to state.

CA VINAY BANSAL

CA VINAY BANSAL (Querist)

16 March 2011 Hi Mr Gaur,
I am asking partcularly for Uttrakhand state.
If any idea about the same, please revert back asap.
And if the turnover in natural stones is below Rs 10 lakhs, do we need to register with Central ST department and levy CST or we are exempted??
And regarding VAT, is the facility of online registration available??

CA VINAY BANSAL

CA VINAY BANSAL (Querist)

16 March 2011 Is puja items like rudraksha taxabl under VAT?
Is shaligram a taxable item under VAT?

Hitender Gaur

Hitender Gaur (Expert)

16 March 2011 As per Schedule I (CST Entry No.50) of UK-VAT Rudraksh or Rudraksh Mala/Tulsi Mala is 0% (Zero Percent)VAT. Shaligram is covered under the Schedule II (B) as Rever Bolder (CST Entry 94)taxable @ 4% VAT (UK), but if there is any relaxation for puja items if some one treating Rever Bolder as Shaligram, please confirm the concern Assessing authority.

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