What is the rate of VAT for Plastic valves? The custom tariff code for this is 3917.40.00. The rate of VAT for plastic pipes and fittings is 4%. Does the valve also come under the same catogory?
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Rate of VAT
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| Originally posted by :C.V.S.SHARMA | ||
| " | What is the rate of VAT for Plastic valves? The custom tariff code for this is 3917.40.00. The rate of VAT for plastic pipes and fittings is 4%. Does the valve also come under the same catogory? | " |
As per my understanding Plastic valves is not a raw plastic product, it's a ready to sell product hence VAT should be 12.5%. If it's a raw plastic which can be convert into final goods then VAT should be 4%.
The rate of vat for Valve is 12.5%.
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