Rate of vat (karnataka)

Rashid Imam (Officer (Indirect taxation))   (296 Points)

17 August 2012  

Dear Member,

From 1st of August' 2012 Vat rate is hike from 5% and 14% to 5.5% & 14.5% respectively.

My Query is that since we are a work contractor we raise our tax invoice on monthly workdone basis, today we are going to raise the tax invoice for workdone during month of July' 12. So which rate of tax will be applicable it will be 5% & 14 % which was upto July 31st or It will be 5.5% & 14.5% as the current rate which are applicable from 1st of August.

 

Please give your suggestion.