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New mvat rates

Soumya (Proprietor) (69 Points)

26 March 2016

1. What is the effective date of application of new MVAT rate of 5.5%. 2. Also is it tthat all products earlier charged with 5% MVAT will now be charged with 5.5% MVAT. Pls clarify . Thank you

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3 Replies

CA Raj Doshi (Practising CA) (8908 Points)
Replied 01 April 2016

1. 1.4.2015. 2. Yes

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CA Raj Doshi (Practising CA) (8908 Points)
Replied 01 April 2016

1. 1.4.16 ( typo error earlier )

CA Ronak Doshi ( ) (234 Points)
Replied 03 April 2016

Hi,

1. The effective date of new MVAT rate of 5.5% shall be effective from 01 APRIL 2016.

2. All the goods which were taxable @ 5% are now taxable @ 5.5% except the Declared goods (i.e. goods which are of special importance and have been defined u/s 14 of CST Act 1956), which will continue to be taxable @ 5%.

Regards,

Ronak.