bkramdasi (MBA) (131 Points)
18 January 2013Respected Sir,
We have purchased TR set & Panel ( Excise teriff 8504.21) with 5% MVat. It will be sold as the part of our equipment in Maharashtra.
We would like to know following
1]5% MVAT on purchase is correct?
2]What should be the correct rate of MVat 5% or 12.5%?
Pl. advice.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 03 February 2013
Mr bkramdasi,
What is this TR set and panel,whether it is a machinery,an electrical equipment ,or any other item. You may search for that item in the third schedule ,and know the correct rate of tax.......MJK
CAclubindia
