The rate of VAT under TNVAT has been changed.
4% VAT is now 5%
12.5% is now 14.5%
The relevant noficiation is attached herewith
Attached File : 30193 765956 go76 110711.pdf downloaded: 1149 times
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Changes in TNVAT Rates
Attached File : 30193 765956 go76 110711.pdf downloaded: 1149 times
Replies (2)
Sir i need a clarification,
What is the Percentage of Old Stock upto 11/7/11, ?
What rate is applicable..12.5% or 14.5% ?
If 14.5%, it exceeds the MRP Price... What to do. please clarify me... your timely reply will help us lot
Regards,
P Senthil Kumar
When rate of applicable taxes get change in transition, usually the principal manufacturer has options
1) to call back the stock with dealers and issue fresh stock on which new rate is applied
2) to revise the MRP by sending stickers to the dealer, after ascertaining the stock laid at dealers place.
in no case the goods would be sold at previous rate by regitered venodors,
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