VAT RATE

[BHUPINDER NARANG]

Existing VAT rate for rubber scrap obtained from the buffing of old tyre would be 5%. Existing VAT rate for sale of old machineries and used motor car would be 12.5%. Please comment.

AI Summary

VAT Rates: Rubber Scrap from Old Tires at 5%, Old Machinery and Used Cars at 12.5% The discussion addresses the VAT rates applicable to specific items. The VAT rate for rubber scrap from old tire buffing is 5%, while the rate for selling old machinery and used motor cars is 12.5%. A participant suggests consulting the relevant VAT act's schedule and rate charts for further details.