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New mvat rates
1. What is the effective date of application of new MVAT rate of 5.5%.
2. Also is it tthat all products earlier charged with 5% MVAT will now be charged with 5.5% MVAT. Pls clarify . Thank you
Replies (3)
1. 1.4.2015.
2. Yes
1. 1.4.16 ( typo error earlier )
Hi,
1. The effective date of new MVAT rate of 5.5% shall be effective from 01 APRIL 2016.
2. All the goods which were taxable @ 5% are now taxable @ 5.5% except the Declared goods (i.e. goods which are of special importance and have been defined u/s 14 of CST Act 1956), which will continue to be taxable @ 5%.
Regards,
Ronak.
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