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of <h1>Delhi VAT Rules Amended: Tax Credit Reductions Adjusted for Goods; Rule 7 and Sub-rule (4) Tax Rate Revised</h1> The notification issued by the Finance Department of the National Capital Territory of Delhi amends the Delhi Value Added Tax Rules, 2005. Effective from June 1, 2008, the amendments modify Rule 7, specifically adjusting the tax credit reduction percentages for various goods categories. Goods in the Second Schedule will see a 100% tax credit reduction, those in the Third Schedule a 50% reduction, Fourth Schedule goods a 10% reduction, and other specified goods a 16% reduction. Additionally, the tax rate mentioned in sub-rule (4) is revised from 3% to 2%.
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