Tn vat exempted sales & zero rated sales

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Anandh S

Anandh S (Querist)
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17 October 2013 Dear Sir,

[1] . As per TN-VAT Which are the goods falling under exempted sales & Zero rated sales

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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17 October 2013 Please refer schedule I of the TN VAT Act for exempted goods as it is a long list and Section 18 of the deals with Zero Rated sale i.e normally export sale/Sale to SEZ Unit or developers etc

Anandh S

Anandh S (Querist)
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17 October 2013 Thnks sir, but that exempted sales are covered under fourth schedule or first schedule as per TN-VAT

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CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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17 October 2013 Sorry it is Fourth Schedule of the Act

RENGARAJ R.K

RENGARAJ R.K (Expert)
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17 October 2013 The Fifth Schedule of TNVAT deals with zero rated sales. That is for supplies made to international organisation (around 14 organisations are listed-also see sub section (1) of section 18)

And Exempted goods are listed in IVth Schedule. Around 10 products in Part A and 81 products in Part B of TNVAT Act.

Regards,

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Anandh S

Anandh S (Querist)
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23 October 2013 As per TNVAT Act - If we have transferred goods to others state against F Forms from TN , how to reverse ITC and what is the method ? pls