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Is vat 5% still applicable in some cases???
Vat Rate for F Y 2016-17 is 5.5% & 12.5%, but my query is whether vat @ 5% isstill applicable or not ,if yes the on which product, because our one supplier still charging 5% vat on MS pipes. please guide on this.
Replies (4)
Pleaes mention the state where sale is made ?
Maharashtra
Sir,
As per S.No. 72 of Schedule 'C' of Maharastra Value Added Tax Act, 2002, Pipes of all varities including G.I. Pipes, C.I. pipes, ductile pipes and PVC pipes and their fitting taxable w.e.f. from 1.4.2016 @ 5.5% under the said Act.
Further i am attaching copy of schedule which give tax rate applicable on all items.
Hope this will help you.
Thaking for sharing.
Regards
Thank You Jagjit Sir.
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