What is the vat rate on solvent and thinner . if any one have detailed schedule . pls forward .
Regards ,
Paras
12 Replies
CA Pallav Singhania
(IT System Auditor)
(33262 Points)
Replied 30 October 2011
I think its 20%....as it is a lubricant....
Paras
(Mcom,CA Final)
(122 Points)
Replied 30 October 2011
its a not lubricant. its base on chemical solvents or say organic solvents.
CA Pallav Singhania
(IT System Auditor)
(33262 Points)
Replied 30 October 2011
chemical one....used in repairing....cleaning...
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 30 October 2011
Dear Mr Paras
Thinner & Solvent rate of VAT in Tamilnadu is 5%
Sundaram Kumar
Paras
(Mcom,CA Final)
(122 Points)
Replied 30 October 2011
Ty Sir , Can u pls tel me schedule and entry number . if u have any rule book or soft copy pls forward.
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 30 October 2011
1. “thinner” is taxable at 14.5% under Part C of the First Schedule
to the TNVAT Act, 2006, with effect from 1.1.2007. If it is sold as industrial input, it is
taxable at 4% vide Entry No. 67 of Part B of the First Schedule to TNVAT Act 2006,
2. Industrial Solvents and solvent chemicals
form Methanol are taxable at 5% vide part B of Ist schedule to Tamil Nadu Value Added
Tax Act, 2006,
.
Sd
mahesh sakhuja
(asstt manager accounts)
(32 Points)
Replied 30 October 2011
Sir,
In Delhi Thinner is taxable at a rate of 12.5%
SACHIN KOLI
(Accountant)
(40 Points)
Replied 31 October 2011
VAT on Solvent is 5% in Delhi. But about thinner I don't know.
SACHIN KOLI
(Accountant)
(40 Points)
Replied 31 October 2011
VAT on Solvent is 5% in Delhi. But about thinner I don't know.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 01 November 2011
Thinner is classified along with paints. It is a general item not in schedule. In Karnataka VAT on it is 14%.
Sundaram Kumar
(Chief Executive)
(103 Points)
Replied 02 November 2011
Thank you Krishnamurthy Sir. Will you please get me your Mobile Number. Sundaram Kumar 9282 11 0209 Chennai
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