Rate of tax reduced on iron and steel goods-Rules 21,54 of Punjab VAT Rules amended

0 comments Friday, January 31, 2014
Punjab Government has notified reduced rate of tax on Iron and steel goods as defined u/s 14 (iv) of Central Sales Tax Act, 1961 from 4.5% to 2.5% except on Non-CENVAT paid scrap. 
Non-CENVAT paid scrap has been made taxable at the rate of 1% only. This change has been made effective from 25.01.2014.

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