Input tax is the Value Added Tax or VAT , charged by the supplier in the State of Andhra Pradesh on goods purchased for resale, raw materials, consumables, packing materials, capital goods and general office equipment. It excludes taxes paid other than VAT on purchases from dealers not registered for VAT or on purchases from [...]
List of Goods Exempt from VAT in West Bengal
April 20, 2012 by 1 Comment
The sale of goods which does not require any Value added tax or VAT within the state of West Bengal is provided under Schedule A of the West Bengal Value Added Tax Act 2003 . There are 42 major types of goods classified which are exempt from VAT in West Bengal. The list pf VAT exempt goods [...]
WB VAT: No Input Tax Credit on 12 Types of Goods
April 20, 2012 by 1 Comment
Input tax credit is the amount of tax paid by the dealer on purchases for which the dealer is entitled to claim a credit while paying for the sales tax on goods.The input tax credit has to be claimed in the tax period in which a dealer records tax invoice and can be adjusted against [...]
Change of VAT Rate in West Bengal from 01/04/2012
April 15, 2012 by Leave a Comment
West Bengal government has , following the budget presentation , brought in certain changes in existing rates of VAT on different items. For example , in case of balloon , the VAT has been withdrawn , whereas in other case rates have been changed .Following changes have come into effect from 01/04/2012 in the rate of tax applicable on sale of the items noted below [...]
Budget 2012-13 : No Special Tax Rates for Women
March 16, 2012 by Leave a Comment
Budget 2012 has proposed new tax rates for Individuals , HUF , AOP & BOI ( Body of Individuals ) except companies but it has taken away the special status given to woman tax payers as no concessional tax rates are available to them .Finance Bill 2012 has treated men and women as equals. The new [...]
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