What is the Value Added Tax in Gujarat?
Gujarat Value Added Tax. The Value Added Tax or VAT was a tax regime which was in existence before the uniform tax regime GST was operable in the country. VAT was levied on the producer of certain goods and materials and products in the country by the Government!
What is the Value Added Tax (VAT) in India?
VAT is applicable on all goods and products sold in the state, and the rates will depend on the products being sold and purchased. Any trader or dealer that has a sale or purchase turnover of a minimum of Rs. 5 lakhs is liable to pay VAT as per the VAT Act.
What is the VAT rate on cigarettes in Gujarat?
For example, the VAT rate on cigarettes is up to 45%, while VAT on micro-irrigation tools, raw materials for incense sticks, sharpeners, pencils, etc. remain totally waived. Section 3 of the Gujarat Value Added Tax Act, 2003 provides for levy and imposition of VAT and the conditions laid down therein.
How to file a VAT return in Gujarat?
Apart from monthly and quarterly returns, an annual return of VAT needs to be filed by June 30th, if the turnover for the financial year is less than Rs. 1 crore, and by Decepmer, 31st, for those businesses who has a turnover of more than Rs. 1 crore. Gujarat allows VAT filing to be done through their authorized website, online.
How to register for VAT in Gujarat?
Form required to be filled for the registration for VAT will be: Form No. 101: This is the form that can be used to register to pay VAT. Form No. 101A: This form is used to declare any other places of business, branches or godown maintained in the State of Gujarat.
When was the GST rate schedule decided by the GST Council?
Chapter wise GST rate Schedule for Goods decided in the GST Council Meeting held on 18.05.2017. GST Compensation Cess rates decided in the GST Council Meeting held on 18.05.2017. Addendum to the GST Rate Schedule for Goods. GST Proper Officer List.