articled trainee
1477 Points
Joined July 2010
vat rates as per assessment year 2010-2011
first schedule items -tax free most of the agricultural goods ,which are used for daily use like milk (expect sold in containers ) ,bread and butter ,eggs , water (expect sold in scaled containers ) , kumkum ,bindi, meat ,agricultural implements which are manually operated or animal driven are covered under this %
second schedule : (1) % articles of gold and silver and other ornaments whether studded with precious or semi-precious metals or not.
third schedule : most of the times which are not manually operated or anim al driven ar under this ,
such as aluminium, cold storage items ,plastics , tea , firewood , student note books ,textiles capital goods .etc @ 5 %
fourth schedule : only narcotics @ 20 %
and 13.5 is general rate of tax %