What is the vat rate on solvent and thinner . if any one have detailed schedule . pls forward .
Regards ,
Paras
CA Pallav Singhania
(❤ Work Hard Party Harder ❤)
(32102 Points)
Replied 30 October 2011
I think its 20%....as it is a lubricant....
Paras
(Mcom,CA Final)
(122 Points)
Replied 30 October 2011
its a not lubricant. its base on chemical solvents or say organic solvents.
CA Pallav Singhania
(❤ Work Hard Party Harder ❤)
(32102 Points)
Replied 30 October 2011
chemical one....used in repairing....cleaning...
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 30 October 2011
Dear Mr Paras
Thinner & Solvent rate of VAT in Tamilnadu is 5%
Sundaram Kumar
Paras
(Mcom,CA Final)
(122 Points)
Replied 30 October 2011
Ty Sir , Can u pls tel me schedule and entry number . if u have any rule book or soft copy pls forward.
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 30 October 2011
1. “thinner” is taxable at 14.5% under Part C of the First Schedule
to the TNVAT Act, 2006, with effect from 1.1.2007. If it is sold as industrial input, it is
taxable at 4% vide Entry No. 67 of Part B of the First Schedule to TNVAT Act 2006,
2. Industrial Solvents and solvent chemicals
form Methanol are taxable at 5% vide part B of Ist schedule to Tamil Nadu Value Added
Tax Act, 2006,
.
Sd
mahesh sakhuja
(asstt manager accounts)
(32 Points)
Replied 30 October 2011
Sir,
In Delhi Thinner is taxable at a rate of 12.5%
SACHIN KOLI
(Accountant)
(40 Points)
Replied 31 October 2011
VAT on Solvent is 5% in Delhi. But about thinner I don't know.
SACHIN KOLI
(Accountant)
(40 Points)
Replied 31 October 2011
VAT on Solvent is 5% in Delhi. But about thinner I don't know.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 01 November 2011
Thinner is classified along with paints. It is a general item not in schedule. In Karnataka VAT on it is 14%.
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 02 November 2011
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