LATEST RATE CHANGE IN VAT – MP

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The Madhya Pradesh Government amended the VAT Act. The amendments in rates of tax of various goods are made applicable with effect from 05.04.2016.  The goods on which tax rates are reduced Bio-insecticides and bio-pesticide………………………………………………….NIL Dry ber and ber powder……………………………………………………………….NIL All kind of electric/battery run two wheelers, car and rickshaw………….NIL Milking machine…………………………………………………………………………NIL Bags and envelops made […]

KEY FEATURES OF PROPOSED GST

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Many other countries are having single unified system of GST, but due to non consensus between the Central and State Government in India, India shall adopt a dual GST Model. The proposed GST shall be dual GST, i.e., CGST and SGST, where Centre and States will simultaneously levy GST across the value chain. On the […]