Please Help: dvat
Posted Date : 24-Jun-2011 , 10:36:39 am | Posted By: Ram Prasad
Category :
VAT | Answers :
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what is the rate for stock reversal on goods taxable at 5% which was earlier similar goods were taxable @ 4%. i m confused whether the rate on stock reversal is 2% or has been increased to 3% as increased in rate of tax from 4-5% |
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| Comments |
| Posted By : Ashish Karundia |
01-Aug-2011, 11:05:53 |
| Dear Friend,
There is no increase in the reversal rate of input tax credit subsequent to the increase in the tax rate. In this regard, you can check the relevant provison.
I hope the above serves the purpose |
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