Inter-state tax rate rule revised: central tax limited to the lower of a turnover ceiling or the State sales tax/VAT rate applied Amendment to section 8 provides that a dealer shall be liable to pay tax from a date notified by the Central Government, calculated as the lower of two per cent. of turnover or the rate applicable under the appropriate State's sales tax or value added tax law.
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Inter-state tax rate rule revised: central tax limited to the lower of a turnover ceiling or the State sales tax/VAT rate applied
Amendment to section 8 provides that a dealer shall be liable to pay tax from a date notified by the Central Government, calculated as the lower of two per cent. of turnover or the rate applicable under the appropriate State's sales tax or value added tax law.
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