On which items VAT is applicable?
Examples of items that attract VAT at 4-5% include cooking oil, tea, medicines, etc. General: Items that fall under the general category attract VAT at 12% to 15. The items that fall under this category are mainly luxury items such as cigarettes, alcohol, etc.
What was VAT rate in 2015?
Value Added Tax
| From | 1 April 2015 |
|---|---|
| Standard rate | 20% |
| VAT fraction | 1/6 |
| Reduced rate | 5% |
| Taxable Turnover Limits |
Is there a 10% VAT rate?
The standard rate of VAT in the UK is currently 20% and this is the rate charged on most purchases. As with zero rate items, no VAT is charged on these goods and services.
What are the VAT schedules in Andhra Pradesh?
AP VAT Schedules Schedule I List of goods Exempt from tax Under Section 7 Schedule II Transactions Zero-Rated and Eligible for Input Tax Credit Schedule III List of goods taxable @ 1% Schedule IV List of goods taxable @ 5% Schedule V Goods Taxable at Standard Rate (RNR) of 14.5 % Schedule VI Goods subjected to tax at special rates
When did Value Added Tax start in Andhra Pradesh?
Andhra Pradesh value Added Tax Act,2005-Schedule VI-Charge of rate of tax on Petrol and Diesel Oils-Notification-Orders-Issued.
Which is the Commercial Tax Department of Andhra Pradesh?
Rebuilding a new Andhra Pradesh is vital for the country, with Value Added Taxes forming an integral component of the earnings of the state. The Commercial Tax Department of AP is in charge of levying and collecting tax in the state, with the Andhra Pradesh VAT Act of 2005 forming the basis for such collection.
What is the tax rate for petrol in Andhra Pradesh?
Goods Taxable at Standard Rate (RNR) of 14.5 % Schedule VI Goods subjected to tax at special rates G.O.Ms.No. 534 Dated:24/10/2018. Schedule VI- Change of rate of tax on Petrol and Diesel Oils – Notification – Orders – issued. ::Website Disclaimer:: Copyright © 2005 Government of Andhra Pradesh.