Tuesday, March 23, 2010
DVAT changes Mar 2010
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As per the Budget:
5 per cent VAT on CNG, rope-making material, bio-inputs like fertilisers, kerosene stoves, etc
12.5 per cent VAT proposed on motion picture distribution and plastic and glass scrap
5 per cent VAT:
On compressed natural gas, rope-making material like “rassi, ban and newar”, bio-inputs like fertilizers and micro-nutrients and plant growth promoters, kerosene stoves, lanterns and petromax and their spares and embroidery and zari items, 5 per cent VAT has been proposed .
(These items were exempt from tax earlier)
VAT at 12.5 per cent :
Similarly VAT at 12.5 per cent has been proposed on motion picture distribution and plastic and glass scrap, which were earlier exempted.
The rate of VAT has been increased from 5 per cent to 12. 5 per cent on all other scraps, dry fruits, saffron and edible seeds ‘magaz' of all types, desi ghee, household plastic items, plastic and tin containers including barrels, wood and timber and plywood and laminated boards, fitting for doors and windows and furniture, wire mesh and metal mesh, paint brushes, tractor tyres and tubes, cocoa and coffee including coffee beans, inverters, all utensils and cutlery items, chemicals likes fertilizers, pesticides, weedicides, insecticides, herbicides, rodenticides and plant growth regulators, glucose D, locks, weights and measures, fibre board and particle board, and tea.
Diesel is the only substance on which VAT has been increased from 12.5 per cent to 20 per cent.
VAT on writing instruments costing over Rs.1,000 from 5 per cent to 12.5 per cent.
expensive watches are all set to get more expensive with the VAT being increased on them from 12.5 per cent to 20 per cent.
Mobile phones and all mobile accessories above Rs.10,000 would also entail higher VAT of 12.5 per cent as against 5 per cent earlier
And garments selling for over Rs.5,000 would also attract VAT at this higher rate.
Besides, VAT has also been enhanced on aerated drinks from 12.5 per cent to 20 per cent
Besides, VAT has also been enhanced on aerated drinks from 12.5 per cent to 20 per cent
This post was written by: Senthamaraikannan
Senthamaraikannan is a professional blogger, web designer and front end web developer. Follow him on Twitter
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