Karnataka vat rate on gold coins sales 1% or 2%

CA. Praveen (Chartered Accountant) (119 Points)

25 November 2011  

 

can anybody update me whether Vat rate in Karnataka State for Gold Coin (and not ornaments) sales is 1% or 2%.
 
Below is the amended Vat Rate w.e.f. 01.04.2011 in Karnataka. 
 
"Increase in the VAT rate on jewellery and articles of gold and other noble metals, 
precious and semi‐precious stones from 1% to 2%."
 
Regards. 
 
Praveen