VAT

NarinderPSingh (Querist) 22 April 2011 This query is : Resolved
What is the rate of VAT on Iron & Steel in Punjab

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R.Ramachandran (Expert) 22 April 2011
Iron and Steel falls under Declared Goods. Schedule - C of Punjab VAT Act covers the Declared Goods. The rate of VAT is 4%.

However, there certain other iron and steel items included in Schedule B, attracting 5% VAT.

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