VAT rate of tax - list on which rate of 12.5% is applicable

[pramod verma]

on sales of which items we can charge 12.5% tax

AI Summary

Items Not in Specific Schedules Subject to 12.5% VAT Rate Under DVAT System A discussion on a forum addressed which items are subject to a 12.5% VAT rate. The first response clarified that this rate applies to residual items not listed in specific schedules with different tax rates. For example, in the DVAT system, Schedule 1 includes exempt items, Schedule 2 lists items taxed at 1%, Schedule 3 covers items at 4% or 5%, and Schedule 4 includes items taxed at 20%. Thus, any items not specified in these schedules are taxed at 12.5%. Another participant reiterated the applicability of the 12.5% rate.