whether vat is applicable on sale of newspapaer?
whether vat is applicable on sale of newspapare
Vinit Agarwal (Audit Accounting and Taxation) (28 Points)
24 February 2010
3 Replies
niki_1079
(CA Practice )
(279 Points)
Replied 24 February 2010
No. I think Newspaper and books are exempt from Vat.
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 24 February 2010
Entry 92A of List I - Union List reads :
‘Taxes on the sale and purchase of goods other than newspapers,........"
Entry 54 of list II - State List - reads :
‘Tax on sale or purchase of goods other than newspapers except ..........."
Newspaper specifically excluded - It can be seen that ‘newspapers’ are specifically excluded from purview of both Union as well as State list. The obvious reason is that newspapers have a very vital role to play in a democratic society. Freedom of speech and free flow of information is the backbone of democracy and hence newspapers have been excluded from tax. [Otherwise, ‘newspaper’ are ‘goods’, but for the exclusion].
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