can anybody update me whether Vat rate in Karnataka State for Gold Coin (and not ornaments) sales is 1% or 2%.
Below is the amended Vat Rate w.e.f. 01.04.2011 in Karnataka.
"Increase in the VAT rate on jewellery and articles of gold and other noble metals,
precious and semi‐precious stones from 1% to 2%."
Regards.
Praveen
CAclubindia
