Ceiling rate on Declared goods u/s 15 of CST Act is proposed to be increased from 4% to 5% in the Budget 2011-12

0 comments Tuesday, March 1, 2011
It has been proposed in the Budget 2011-12 to increase the ceiling of 4% on declared goods under section 15 of CST Act to 5%. Currently State Governments cannot levy VAT more than 4% on declared goods.

Declared goods are those goods which are of special importance and have been defined u/s 14 of CST Act 1956. This increase has been made in view of recent increase in the VAT slab rate of 4% to 5% by many states. 

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