Sales Tax MVKini - State Budget 2012

TAX ALERT
STATE BUDGET PROPOSALS 2012

VAT, CST & ENTRY TAX
Contents
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Subject Glossary Objective VAT amendments for Assam Budget proposals for Bihar Budget proposals for Chhattisgarh VAT amendments in Delhi Budget proposals for Goa Budget proposals for Gujarat Budget proposals for Himachal Pradesh Budget proposal for Jammu & Kashmir Budget proposals for Karnataka Budget proposal for Kerala
Page Nos. 4 5 6 7 8 9 10-13 14 15 16-20 21-22 23-24
State Budget proposals 2012 in VAT, CST and ET
Contents. Contd.
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Subject
Vat amendments in Madhya Pradesh
Budget proposal for Maharashtra Vat amendment in Punjab
Page Nos.
25-27
28-34 35
Budget proposals for Rajasthan

Budget proposals for Tamil Nadu Budget proposals for West Bengal
Vat Changes in other States
36-39
40-41 42-47 48
State Budget Proposals 2012 in VAT, CST and ET
Glossary
| 4
ATM CFL CST CNG DVD FY IMFL IT ITC LPG TDS URD VAT WCT
Automated Teller Machine Compact Fluorescent Lamp Central sales Tax Compressed Natural Gas Digital Versatile Disk Financial year Indian Made Foreign Liquor Information Technology Input Tax Credit Liquefied Petroleum Gas Tax Deducted at Source Unregistered Dealer Value Added Tax Works Contract Tax
Objective
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This presentation summarises the proposals under respective State
Budgets for the FY 2012-13 in respect to the levy of VAT, CST and Entry Tax in the State Points discussed in this presentation are on selective and not exhaustive. Detailed examination and analysis is separately required which has not been undertaken under this presentation.
Assam
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New Composition Scheme for works Contract superseding the earlier by
new notification. - Dealer can select this Scheme in lieu of actual tax payable - Method of calculation of tax payable under composition given - Application form and returns to be submitted for availing the benefit are explained in the notification
Bihar
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Amendments to VAT Act

Provision for Compounding of tax liability
- New Section 15A introduced - provisions of books of account and taxable turnover inserted - WCT-TDS from Works Contractor increased from 4% to 5% Complete ITC can be taken in interstate sale, if the goods are procured within the state and sold interstate without manufacturing activity. Security deposit of Rs 10,000/- mandatory for voluntary registration Verification and cross checking made mandatory for refund of VAT and unadjusted ITC The commissioner is empowered to extend time not exceeding 3 months w.r.t payment of tax or return. Detailed business audit of registered dealers based on specified economic criteria on random basis proposed in
Chhattisgarh
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Amendment to Vat Act

Machineries for fly-ash based industries, poultry and bee-keeping proposed to be
taxed @ 5% Exemption from payment of tax given to battery operated electric car and old cars. Lantern, Deferasirox Drug, Nail polish, Blocks and paving blocks made from fly-ash, sanitary napkins are exempt from tax for a period from April 2012 to March 2013. Iron and Steel used for manufacturing tube and pipes to be taxed @ 2%
(All the above proposals are to be effective from 1 st April 2012)
Entry Tax
Motor vehicle for use of disabled person exempt from whole of tax
Iron ore & coal are to be taxed @ 0.5% only against declaration form appended
along with the notification.

(All the above proposals are to be effective from 1 st April 2012)
Delhi
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VAT Amendment Mandatory Tax period of registered dealers having turnover not exceeding 10 lacs & turnover from 10 lacs - 50 lacs is yearly and six monthly respectively. Due date of payment of tax for these dealers was 28 days from the end of the quarter. The revised due date for payment of tax of tax for yearly and six monthly return dealers is 21 days from end of the quarter as per Notification issued.
Goa
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Sr.no. 1 2 3 4 Description of goods Aerated & carbonated nonalcoholic beverages IMFL Textile fabrics Naphtha Present VAT rate 12.5% 20% Nil 12.5% Proposed VAT rate 20% 22% 5% 15%
5
6
Cigarettes including raw Tobacco

Gensets
20%
12.5%
22%
5%
(All the above proposals are to be effective from 1st April 2012)
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Goa
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New Entries In schedule B ( VAT@ 5%) 158) Goods utilized in execution of works contract. (159) Diesel Generator Sets & (160) Fabrics of all kinds including sarees but excluding handloom fabrics. In schedule C the existing rates are revised as under :Sr.no Description of goods . Present VAT rate Propose d VAT rate
1 2
3 4
Aviation spirit, turbine fuel, Gas Foreign liquor & beer

Indian liquor & beer Tobacco, manufacture tobacco & products
22% 20%
20% 20%
12.5% 22%
22% 22%
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Goa
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Following new entries inserted in Schedule C Goods (10A) Naphtha used as raw material by chemical fertilizer industry. Entry 22 Aerated and carbonated non-alcoholic beverages Tax Rate 15% 20%
Entry 23 cooked fast food

Entry 24 potato& other chips, Namkin packed Entry 25 Light motor vehicles costing above 15 lacs Entry 26 Two wheelers costing above 2 lacs
20%
20% 15% 15%
Goa
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In schedule E: Limits of Turnover and tax rate revised as under :Serial number Before Budget T.O Limit
80 lacs 80 lacs 80 lacs 80 lacs 80 lacs 10 lacs
Composition Tax rate 1% 2.5% 5% 8% 4% 10,000 per year
After Budget 2012 T.O limit

100 lacs 100 lacs 100 lacs 100 lacs 100 lacs 20 lacks
Composition Tax rate 0.50% 1% 5% 8% 3% 15,000per year
(1) Liquor in packed bottles (2) Reseller of liquor in packed bottles (3) Hotels including serving fast food (4) Hotel including bar & restaurant (5) Works contractor (6) Sale of cooked food
Gujarat
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Amendments to VAT Act New items added to the exemption list from payment of whole of tax. Medical implants, aquatic feed are some of the products Tax exceeding 5% exempted on specific goods. Hardware fittings for doors and windows, e-bikes, sanitary pads, helmet, yogurt and tools meant for tailor and barber included in this category.
Himachal Pradesh
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CST Amendment Form of return substituted under rule 7 of the Central Sales Tax Rule, 1970. Goods manufactured in Himachal Pradesh and sold interstate to Railways shall be exempted from payment of tax if the Dealer submits certificate in Form R, to the assessing authority. This Form has to be signed by authorised officer of the Railways. Amendments to Entry Tax Act In schedule I new entry 53 inserted in respect of newsprint used for printing of news papers. In schedule-II entry no.9 has been substituted by the following
Sr.No
9
Goods
a)Waste material & scraps of all types b)Non-ferrous metal / scrap thereof
Tax Rate
2% 0.25%
State Budget Proposals 2012 in VAT, CST and ET | 15
Jammu & Kashmir

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Amendments to VAT Act In Schedule A following entries are inserted (Attract Nil rate) 6-A. Bio-fertilizers and micro nutrients. 9-A. Chemical fertilizers. 10-A Desk-top, laptop and palm-top computers, computer peripherals i.e. pen drives, blank CDs, DVDs, memory cards, memory chips, headphones, computer cleaning kits, electronic diaries, keyboards, mouses and modems. 14-B. LPG for domestic use. 15-A. Electric Blankets. 21-A. Fungicides. Entry No: 34 (Paddy, Rice, Wheat, Pulses, Floor, Atta, Maida, Suji & Besan) shall continue to be in Schedule 'A' till 31-03-2013. 40-B. Officer Stationery items (adhesives, gums, glues, adhesive solutions, wax, paper envelopes, pencils, crayons, highlighters, erasers, sharpeners, pencil boxes and takhti).
Jammu & Kashmir

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In Schedule A-I specified goods attracting "25% shall now attract VAT @
30% In Schedule B following entries are inserted (Attract 1%) Third proviso inserted "Provided that the job works, executed by registered industrial units on behalf of other registered industrial units, shall be exempt from tax". Entry 12 amended as for levy of VAT on service tax to include "Commercial/professional training and coaching services, provided by private educational institutions, except the services provided by IT Institutes, IT coaching Centers and IT educational Institutions" Entry 14 amended as 'Insurance services, except those which cover agriculture and horticulture crops and all types of cattle wealth, including infrastructure of dairy, poultry, sheep, goats, bird units and fish farms" Entry 21. Security and Placement Services Entry 22. Pandal and Shamiana Services Entry 23. Annual Maintenance Contracts
Jammu & Kashmir

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In Schedule C following entries are inserted (Attract 5%) Entry 38 (Chemical fertilizers & pesticides) omitted Entry 73 the word "Computers" shall be omitted Entry142 "Crayons and Pencil Sharpeners" shall be omitted Sub-entry 187 (computer system, peripherals & electronic diaries)omitted DVD & CD omitted from sub- entry 195 In Schedule D-I following entries are inserted (Attract 13.5%) Entry 37 (Computer cleaning kit) omitted. Entry 41 (cooking Gas) omitted. In Schedule D-II following entries are inserted Goods taxable at 25% shall be taxable at 30%. (All the above proposals are to be effective from 1st April 2012)
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Jammu & Kashmir

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Provisions Added to JK VAT Rules 2005 In Rule 8-A, second proviso added specifying that the dealers involved in the execution of works contracts, in whose case tax is deducted at source, shall not be required to pay renewal fee and registration. In Rule 14-B, second proviso added that dealers, involved in the execution of works contracts, where tax is deducted at source, the requirement of furnishing the security shall be waived off. In Rule 72, it is clarified that Clearance certificate for contractors & supplies shall be valid for one financial year.
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Jammu & Kashmir

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Amendments to Entry Tax Act All Power generation and transmission equipment, building material and construction equipment, imported for the construction of mini hydel projects by the private sector under the Independent Power Producers (IPP), the Scientific equipment, critical chemicals and reagents, used by the research and development institutions of the Central or the State Government are exempted from payment of entry tax.
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Karnataka
| 21
CST Amendments CST rate on sale of dry chilies enhanced from 1% to 2%. Amendments to VAT Act Exemption from VAT for FY 2012-13 to the following goods 1. Paddy, Rice and Wheat. 2. Pulses 3. Flour and Soji of Rice & Wheat and Maida of wheat 4.Braille watches Tax reduced from 14% to 5% 1. Ready to cook chapathi and parota 2 .Surgical footwear. And Black boards 3.Works contract by manufacture of readymade garments and embroidery work 4 .Naphtha
Karnataka
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Amendment to VAT Act Tax reduced from 5% to 2% Un-ginned raw cotton. Dry chillies including cut chillies, spent chillies and chilly seeds Other relief VAT at 5% levied on beedies and on HDPE and other plastic woven fabrics. VAT reduced on diesel from 18% to 16.75% VAT on High Flash High speed Diesel sold to foreign going vessels from 18% to 1% VAT exempted on sale to fishermen.(limited to 1,25,000 kilo liters) Government and Sales Tax Department empowered to notify goods for which transit pass has to be mandatorily obtained The Details of goods and transit pass to be notified in website made mandatory before the exit of the goods from the State (All the above proposals are to be effective from 1st April 2012)
Kerala
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Description of goods Previous VAT rate Present VAT rate
Cigarettes and similar products Pan Masala
12.5% 20%
15% 22.5%
Plastic Bags
Foreign Liquor Crusher Metal Cattle feed Tamarind seed
12.5%
6% 12.5% Nil 4%
20%
10% 13.5% 4% Nil
All the above proposals are to be effective from 1st April 2012)
Kerala
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Description of goods
Previous VAT rate
Present VAT rate
Container food item Ayurvedic products under drug license Cradles Packaged Tender Coconut Pulses, chilli, coriander, flour etc
12.5% 12.5% 4% 12.5% 4%
5% 5% 5% 5% 1%
Madhya Pradesh
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VAT Rule Amendments New turnover threshold and condition introduced to trigger registration requirement 1) 5 lacs, if the dealer import goods into the state. 2) 10 Lacs for dealers not imports goods into the state Dealers in Diesel, Petrol, Electrical Energy, Natural gas, Tendu Leaves and Timber cannot opt for compounding of Tax. Turnover and tax enhanced to 60 lacs and thirty thousand respectively, for dealers opting for Compounding of Tax. (The previous limit was 25 lacs and Rs 10000/- respectively) A time period of 30 days is fixed for the officer to grant permission to the dealer who opts for compounding Furnishing Challan in Form 26 or e-receipt of Form in 26-A, made mandatory requirement for registration
Madhya Pradesh
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A dealer has to obtain permission from the VAT authorities for grant of
registration. This condition shall not be required to be followed in case of a dealer who is availing concessions under the industrial policy of the State of Madhya Pradesh as a manufacturer A penalty of Rs 500/- for default of breach of rules under this act is imposed The Commercial Tax Officer can now assess a the dealer who has turnover up to 25 crores. The previous limit was Rs 10 crores only. Commercial Tax Officer has been granted the power to Compound offences under MPVAT Act
Madhya Pradesh
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MP VAT Act stipulates that a dealer has obtain permission to the
registering authority for grant of registration. This condition shall not be required to be followed in case of a dealer who is availing concessions under the industrial policy of the State of Madhya Pradesh as a manufacturer. The fee for transit pass in Form 49 for transport of notified goods out of the commercial check post of the state is increased from Rs 200/- to Rs 500/ The commercial tax officer is empowered to withhold issuance of form 49, if the dealer is in default of payment of tax or returns under the VAT, CST or Entry tax Act. In case of defaulting dealers, who are permitted to pay tax in installments, the Commissioner may issue a the forms in such quantities as deemed fit The validity of Form 49 issued electronically shall be valid for 30 days
Maharashtra
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A new facility of ECS for refund payments introduced C forms to be issued in Electronic Form, is being accepted in principal Government ready with I.T infrastructure for Goods and service Tax
transition. Likely to be tested w.e.f 1st August 2012 Late filing fee Rs 5000/ made mandatory before uploading of returns Adjournment exceeding three times is to be taken up for next hearing only on the payment of 15% of the disputed tax or 15 crores whichever is lower 3 years limit imposed on resolving DDQs Pendency of preservation of books of accounts increased from 3 years to 8 years
Maharashtra
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Purchase tax to be levied on Cotton and oil seeds purchase from URD WCT TDS by Unregistered contractors increased from 4% to 5% 2% increase for petrol cars and Jeeps. Diesel cars and Jeeps to 4% Motor Vehicle Tax on new Vehicles with CNG kit fitted by the manufacturer has been reduced by 2% Battery operated vehicles fully exempt Motor Vehicle Tax on new Vehicles with CNG kit fitted by the manufacturer has been reduced by 2% Battery operated vehicles fully exempt Amendments to Entry Tax Act: Entry tax on Natural Gas imposed @ 12.5%
( All the above proposals are to be effective from 1st April 2012)
Maharashtra
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VAT rate changes

Furnishing cloth Beedis and unmanufactured tobacco
Nil Nil
5% 12.5%
LPG gas
Plaster of Paris Aviation Turbine Fuel Cashew Nuts Cotton yarn
Nil
Nil 4% 12.5% 5%
12.5%
5% 5% 5% 2%
Maharashtra
| 31
VAT rate changes

Cotton yarn Poultry Machineries
5% 12.5%
2% 5%
Semi processed vegetarian foods sold in sealed containers or frozen food

Adult diapers, sanitary Napkins, raincoats, safety helmets Mollasses
12.5%
5%
12.5% 5%
5% 12.5%
Maharashtra
| 32
Amendment to Maharashtra Profession Tax Act The maximum number of years for which a defaulting dealer registered under the Act can be assessed for pre-registration period will be 8 years A late fee of Rs 1000/- per return introduced for late filing of returns. This will be in addition to penalty which can be levied under the Act A dealer has been given permission to revise his returns by amendment in Section 6 Amendment to Entry tax on Motor Vehicles Assessing authority has been assigned the powers of appellate authority under the Act. Levy of ET on Motor vehicle also extended to consumption of motor vehicles also in addition to their use and sale in Maharashtra Electronic filing of return and e-payment to be introduced shortly
Maharashtra
| 33
Amendment to Entry tax on Goods Tax rates for Entry tax on specified goods, were earlier mentioned in the rate schedule mentioned under Entry tax on goods Now the rates of Entry tax on specified goods as per fates under in Schedule D of the VAT Act which are taxable at 20% or greater Amendment to VAT Act The term Motor spirit is specifically defined and mean High speed diesel oil, Aviation Turbine fuel Duty paid or bonded, Aviation Gasoline - Duty paid or bonded, petrol The term Petroleum products is defined and mean superior Kerosene oil, LPG, Furnace oil, Naphta and low sulpher heavy stock Purchase tax also included within the ambit of VAT. Incidence of tax was based on sales turnover alone. Now sales and purchase turnover are included in order to ascertain the turnover limit by which a dealer is liable to get registered under the Act.
Maharashtra
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Amendment to VAT Act Purchase tax introduced on purchase of cotton. (New Section 6A inserted). Purchase tax introduced on purchase of oil seeds. (New Section 6B). New insertions in sales and purchase not liable to tax
Punjab
| 35
Amendments to VAT Act In Schedule A- tax free goods, entry 33, has been substituted to exclude specific liquor licenses (L-1, L-1A and L1B) Entry of Molasses In goods taxable @ 5% is omitted Rule 15A inserted which deals with the ascertainment Gross Turnover for IMFL and Beer which has been deleted from Schedule A namely (L-1, L-1A and L1B)
Rajasthan
| 36
Amendment to VAT Act Composition scheme of payment of tax - new notifications supersede the notification in 2006 Rates of 1.5% and 2.5% withdrawn and replaced by 1% for dealers in execution of Works Contract Electronic payment mandatory for dealers having tax liability of Rs 1 Lac Sanitary napkins of free days brand, waste paper and plant and machinery used in generation of electricity from non conventional sources like solar, wind, Bios mass shall attract Nil rate New entries namely Tent, Tripal and Automobile bodies and ATM taxed at 5% Tax exceeding 5% reduced on sale of wood glue to registered dealers manufacturing handicrafts Goods taxable at special rates revised as under ( All the above proposals are to be effective from 1st April 2012)
Rajasthan
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Schedule VII Goods taxable at special rates, revised as under Description of Goods
Tobacco and its products
Petrol Pan Masala
Previous rate
40
28 40
New rate
50
26 50
Amendments in Entry Tax
Entry tax enhanced on Explosives to 10% and Yarn to 5%
( All the above proposals are to be effective from 1 st April 2012)
Rajasthan
| 38
CST Amendments A dealer in default of payment of tax or return can be assessed by the assessing authority to the best of his judgment The assessing authority can reduce the time limit of 30 days, which is available to the dealer for payment of tax as per best judgment assessment No assessment order can be passed after completion of 9 months from the end of the period for which the dealer is required to submit return or Audit report Penalty proceedings can be imposed by any officer who is not below the rank of Assistant Commercial Officer
Rajasthan
| 39
Entry Tax Amendments Provisions relating to revision of returns substituted Best Judgment assessment if revised return not submitted Time limit for filing revised returns reduced from 3 year to 2 years A dealer who has filed Annual return within the prescribed time shall be deemed to have been assessed for that year. E payment introduced New Forms has been introduced pertaining to the payment, Annual return, notice for assessment and demand notice, in place of earlier ones
Tamil Nadu
| 40
Amendment to VAT Tax Description of Goods Previous rate 2% 5% 14.5% 14.5% 14.5% 14.5% 14.5% 14.5% New Rate
Wheat Oats E-Bikes CFL Insulin Splints and veneer Adult and baby diapers
Hand made locks
Nil Nil 5% 5% 5% 5% 5%
Nil Nil
Feeding bottles and nipples 5%
Tamil Nadu
| 41
Amendment to VAT Tax

The exemption granted to dealers of vegetable oil having turnover upto 50
crores is withdrawn. These dealers shall now pay tax @ 5% To tax liquor @ 14.5% at the second and third point of sales
West Bengal
| 42
Amendment to CST Act Dealers defaulting in submission of declaration forms shall be granted an additional time of 21 days from the date of assessment to avoid further litigation and enable recovery Specific exemption from payment of tax given to dealers vide notification issued earlier, now extended by one year till 31st day of March 2013
West Bengal
| 43
Entry Tax on Entry of Goods into Local Areas Act, 2012 Entry taxed (ET) becomes operational w.e.f 1st April 2012 Tax rate shall be 1% on value of goods All dealers under the VAT Act importing goods through way bill will be deemed to be registered under the Act. No separate application for registration required. Monthly payment of tax and quarterly returns to be filed online. Assessment shall be deemed to be completed for dealers who are regular in payment of tax and return Self declaration and self assessment of Tax VAT Amendments VAT on sales turnover reduced from 4% to 2% in case of URD dealers voluntarily opting for registration and making upfront payment of tax ( All proposals are w.e.f 1st April 2012)
West Bengal
| 44
WB Entry Tax Act continued ET not payable on those goods in the following circumstances 1) on those goods passing through West Bengal on its way to other states. 2) Export out of the territory of India 3) if the goods are non taxable in the state and when goods exit the State after entry without value addition No collection of tax at check post Exemption from ET extends to agricultural implements and produce, petrol & diesel, chemicals and pesticides, LPG, books and Tea ET is leviable on all items in Schedule C, taxable @ 5%, other than the items mentioned above ( All proposals are w.e.f 1st April 2012)
West Bengal
| 45
Entry Tax on Entry of Goods into Local Areas Act, 2012 Entry taxed (ET) becomes operational w.e.f 1st April 2012 Tax rate shall be 1% on value of goods All dealers under the VAT Act importing goods through way bill will be deemed to be registered under the Act. No separate application for registration required. Monthly payment of Tax and Quarterly returns to be filed online. Assessment shall be deemed to be completed for Dealers who are regular in payment of tax and return Self declaration and self assessment of Tax. All administrative offices and officials constituted under the WBVAT Act shall be deemed to have been setup under the WB Entry Tax on Goods Act, 2012
( All proposals are w.e.f 1st April 2012)
West Bengal
| 46
WB Entry Tax Act continued ET not payable on those goods in the following circumstances 1) on those goods passing through West Bengal on its way to other states. 2) Export out of the territory of India 3) if the goods are non taxable in the state and when goods exit the State after entry without value addition. No collection of Tax at Check post. Exemption from ET extends to Agricultural implements and produce, petrol & diesel, chemicals and pesticides, LPG, books and Tea. ET is leviable on all items in Schedule C, taxable @ 5%, other than the items mentioned above.
West Bengal
| 47
VAT Amendments VAT on sales turnover reduced from 4% to 2% in case of URD dealers voluntarily opting for registration and making upfront payment of tax. Entry Tax Amendments All administrative offices and officials constituted under the WBVAT Act shall be deemed to have been setup under the WB Entry Tax on Goods Act, 2012. CST Amendments Specific exemption from payment of tax given to dealers vide notification issued earlier, now extended by one year till 31st day of March 2013.

VAT changes in other States

| 48
Assam VAT Circular Specified registered dealers who are importing goods into the State, are required to make their VAT payments through e-payment mode starting from 1st April 2002 Silvassa VAT Circular Mandatory online filing of C-Forms w.e.f 1st April 201 No manual application of C Forms after 1st April 2012 Concerned officer shall approve C forms online Dealer can take printout of the approved C forms from the system Chhattisgarh CST Amendments Online application of F Forms are also made mandatory Jammu & Kashmir VAT Updates New Forms for quarterly and annual returns introduced in place of the earlier forms vide notification. Previous Form 11 and Form 11A replaced ( All proposals are w.e.f 1st April 2012)
Disclaimer
| 49
The material and information contained herein, prepared by M.V Kini & Co, is intended to
provide general information on a particular subject or subjects; it is not an exhaustive treatment of such subject(s) and accordingly not intended to constitute professional advice or services. The information contained herein and circulated to any person is on the basis of specific request for such information received by M.V Kini & Co. from that person. This in itself is not intended to or does not constitute any invitation or solicitation by M.V Kin & Co., its Associates, Employees or other representatives towards providing any legal services The information contained in this document is not intended to be relied upon as sole basis for any decision which may affect your business. Before making any decision or taking any action that might affect your personal finances or business, you should consult a qualified professional advisor. All information and data incorporated in this document is based on the published documents issued by the respective state Governments in their budget speeches supported by appropriate notifications issued subsequently. This should not be understood as an opinion or point of view held by the Firm M.V Kini & Co. M.V Kini & Co. shall not be responsible for any loss whatsoever sustained by any person who relies on this material.
Our Contacts
| 50
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TAX ALERT

STATE BUDGET PROPOSALS 2012

Page Nos. 4 5 6 7 8 9 10-13 14 15 16-20 21-22 23-24

State Budget proposals 2012 in VAT, CST and ET

Budget proposals for Rajasthan

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

This presentation summarises the proposals under respective State

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

Amendments to VAT Act

State Budget Proposals 2012 in VAT, CST and ET

Amendment to Vat Act

along with the notification.

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

Amendments to VAT Act

Cigarettes including raw Tobacco

State Budget Proposals 2012 in VAT, CST and ET

Aviation spirit, turbine fuel, Gas Foreign liquor & beer

State Budget Proposals 2012 in VAT, CST and ET

Entry 23 cooked fast food

Composition Tax rate 1% 2.5% 5% 8% 4% 10,000 per year

After Budget 2012 T.O limit

Composition Tax rate 0.50% 1% 5% 8% 3% 15,000per year

Jammu & Kashmir

Jammu & Kashmir

Jammu & Kashmir

Jammu & Kashmir

Jammu & Kashmir

State Budget Proposals 2012 in VAT, CST and ET

Amendments to VAT Act

Cigarettes and similar products Pan Masala

Previous VAT rate

Present VAT rate

12.5% 12.5% 4% 12.5% 4%

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

MP VAT Act stipulates that a dealer has obtain permission to the

State Budget Proposals 2012 in VAT, CST and ET

Amendments to VAT Act

State Budget Proposals 2012 in VAT, CST and ET

VAT rate changes

Furnishing cloth Beedis and unmanufactured tobacco

VAT rate changes

Cotton yarn Poultry Machineries

Semi processed vegetarian foods sold in sealed containers or frozen food

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

Amendments in Entry Tax

Entry tax enhanced on Explosives to 10% and Yarn to 5%

( All the above proposals are to be effective from 1 st April 2012)

State Budget Proposals 2012 in VAT, CST and ET

Feeding bottles and nipples 5%

Amendment to VAT Tax

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

State Budget Proposals 2012 in VAT, CST and ET

( All proposals are w.e.f 1st April 2012)

State Budget Proposals 2012 in VAT, CST and ET

( All proposals are w.e.f 1st April 2012)

State Budget Proposals 2012 in VAT, CST and ET

( All proposals are w.e.f 1st April 2012)