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vat query

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(Querist)
31 December 2008 dear sirs

first of all wish u very happy new year

what are the goods which comes under 12.5 vat limit

thanx
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Taxguy

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Taxguy (Expert)
01 January 2009 All goods not coming under other schedules of VAT Act fall under the residuary rate i.e 12.5%.
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Ravikumar.G

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Ravikumar.G (Expert)
01 January 2009 12.5% RNR (Revenue Neutral Rate) on other goods.
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