Rate of tax on "Overhead water storage tanks" - Clarification
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....tment had gathered information that most of the dealers, who are engaged in the manufacturing / trading of overhead water storage tanks are charging VAT @ of 4% inspite of the fact that this is an unspecified item and liable to tax @ of 12.5%. This under charging practice is being indulged on the pretext that overhead water storage tanks is household plastic item covered under Entry 165 of the III....




TaxTMI
TaxTMI