16 October 2011
Mr Vishal Shah, If the nano particals are used as industrial inputs, there is a detailed schedule(within III schedule entry no 51)of KVAT Act200,please check up whether this producct is included any where. I could not find it in the list of industrial inputs.so it is taxable @14%.if you find that nano particals are included in one of the categories of chemicals mentioned in the above list then it is chargeable @5%.
CAclubindia
