Rate of tax – All VAT dealers referred under section 4 (9) are liable to pay tax at the revised rate of 12.5% on 60% of the taxable turnover and are eligible to claim Input Tax Credit on eligible inputs. Continue reading →
Important changes made is with regard to the Entry 52 dealing with Readymade Garments.Bed sheets, pillow covers, towels, blankets, traveling rugs, curtains, crochet laces, zari, embroidery articles and all other made ups†have been added to the Entry 52. Continue reading →