The latest notification of Delhi VAT Department has made some changes about the rate of VAT percentage and increase some formalities to claim “Input Tax Credit”. Some synopsis of latest notification of Delhi VAT on 14-1-2009 as follows. The notification has approved the amendment in Delhi Value Added Tax Act, 2004.
Updates: Changed Delhi VAT rates w.e.f. 1-4-2010
VAT Rate Increment from 4% to 5%
- The rate which was earlier 4 percentage now become percentage as mention in Third Scheduled of Delhi VAT Act w.e.f. 13 Jan, 2010.
Impose some Formalities to claim of Input Tax Credit w.e.f. 1-1-2010
- The Input tax credit shall be allowed to the extent of the goods purchased has been actually sold.
- The tax credit claimed on a particular purchase shall not exceed the amount of tax payable on its sale.
Latest Notification of Amendments in Delhi Value Added Tax Act for Increase of VAT Percentage from 4% to 5%Published in Notification Dated 6-1-2010 [F.14(16)/LA-2009/LJ/10/LC LAW/1]
Related posts:
- MVAT | Maharastra VAT Rate is on Timber 12.5% w.e.f. 1-4-2009
- Punjab VAT Rates Increased from 4% to 5% w.e.f. 29-1-2010 on Schedule B Items
- Changed Delhi VAT Rates from 1-4-2010
- MP VAT Recent Notifications, Amendments
- Rule 5 of The Cenvat Credit Rules – Refund of Cenvat Credit – Amendment to Notification No. 42/2001-CE (NT), dated 26-6-2001
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Impose some Formalities to claim of Input Tax Credit w.e.f. 1-1-2010
The Input tax credit shall be allowed to the extent of the goods purchased has been actually sold.
The tax credit claimed on a particular purchase shall not exceed the amount of tax payable on its sale.
in my view and clearly observed from notification, abovsaid not approved and not applicable. if applicable, please let me know how.
thanks
New change in Income tax depriciation in Addi rate if any change in more than 180 days and lessthan 180 days
What is the New rate of Iron Scrap under DVAT
hi dear sir kindly mail me what is a vat rate on metal sheet stand. according to delhi sales tax.
dear sir kindly mail me what is a vat rate on pvc pipe &fittings,water tanks ,plastic compounds according to delhi sales tax act 2010-2011
what is the tax rate on toiletary goods, like bang,magic toilet cliner, harpik in delhi vat.
please let me know that what is the rate of tailotery goods . like harpik, magic , beng, ect. in delhe vat.