New vat provisions relating to timber
This query is : Resolved
19 April 2012
Recently as per the VAT Act of Madhya Pradesh, the timber has been shifted from the Schedule III to the Part III A of Schedule II.
Can anybody tell me about the new tax provisions applicable on timber now?
Also what are the rebates available to the timber merchants?
Provisions and rates for entry tax on sale of such timber to people from different states?
Can anybody tell me about the new tax provisions applicable on timber now?
Also what are the rebates available to the timber merchants?
Provisions and rates for entry tax on sale of such timber to people from different states?
20 April 2012
c) Increase in Rate of Vat :-
i) The rate of Vat on residuary Entry No II/IV/1 has been
increased, consequently All the goods liable @ 12.50% shall be
liable @ 13% wef 1.4.2010.
ii) The rate of Vat on Natural Gas including Compressed Natural
Gas II/III/6 and timber II/III/7
So the rate is now 13% instead of 12.50%
c) Increase in Rate of Vat :-
i) The rate of Vat on residuary Entry No II/IV/1 has been
increased, consequently All the goods liable @ 12.50% shall be
liable @ 13% wef 1.4.2010.
ii) The rate of Vat on Natural Gas including Compressed Natural
Gas II/III/6 and timber II/III/7
So the rate is now 13% instead of 12.50%
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Gst Sales of FY 2023-24
- Legal heir raised refund , but refund issued to the closed account of deceased.
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
