Vat rate
This query is : Resolved
13 November 2013
What is the VAT rate of cement in the state of Bihar. Is there any possibility of getting the copy of the notification. I tried my level best to get the notification from official website of Bihar state.
13 November 2013
Cement is no where mentioned in VAT schedule thus it comes under residury entry and it would be taxable at highest rate in bihar
13 November 2013
What is the highest VAT rate in the state of Bihar. I was guided to consider the 14.5%. Is it correct. Is there any notification copy can be provided?
13 November 2013
it is correct , you may refer section 14 of the BVAT Act
13 November 2013
Some cement companies in Bihar state are chrging 13.5% (11.04.2013)& some are charging 14.5% (22.05.2013). Basing on the highest percentage of certain cement companies, we are showing the 14.5% rate in our sales tax returns.
the main problem we are getting is the VAt rate of 13.5% input will be less comparing to 14.5%.
What step we have to do to get the balance 1% (actual value of input we are loosing is quite high)
the main problem we are getting is the VAt rate of 13.5% input will be less comparing to 14.5%.
What step we have to do to get the balance 1% (actual value of input we are loosing is quite high)
Nikhil Kaushik
(Expert)
14 November 2013
Dear Nagaraju,
How are you losing value of input. You are claiming what you paid while purchasing. So whether it is 13.5% or 14.5% is immaterial to you. The person who should worry is the seller at 13.5%.
How are you losing value of input. You are claiming what you paid while purchasing. So whether it is 13.5% or 14.5% is immaterial to you. The person who should worry is the seller at 13.5%.
14 November 2013
Is there any possibility of the date of notification relating to the change of VAT rate from 12.5% to 14.5%.
14 November 2013
Thanks for the support. I have got the data regarding the notification.
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