KARNATAKA VAT %

This query is : Resolved

SUBHA (Querist)
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10 September 2010 Hi Freinds,

In karnataka, VAT % changed to 4 to 5% from April-10, but my supplier charged 4% vat for Oil seal & M.S.Nuts & Bolts and S.S. Elbow & Flange. I want to confirm whether it is corret and mentioned goods coming under declared goods.

Regards

S.Subha
Sr.Accounts Officer.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 September 2010 No,VAT is 5 % Only. enquire with Suppllier and correct the same

Gagan Agarwal

Gagan Agarwal (Expert)
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10 September 2010 In case these goods are falling under section 14 of the CST Act, 1956, the rate of VAT is 4% in Karnataka. Else the tax rate is 5%.

Iron and steel items are covered under section 14 of CST Act.

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