VAT on motor parts to reduce by 2.5% in Jharkhand VAT on motor parts to reduce by 2.5% in Jharkhand Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

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VAT on motor parts to reduce by 2.5% in Jharkhand

May, 02nd 2011
Jharkhand cabinet today decided to reduce VAT on motor parts to 10 per cent from the current 12.5 per cent. The decision was taken at a cabinet meeting, chaired by Chief Minister Arjun Munda, the Cabinet Secretary Aditya Swaroop, told newsmen here. The cabinet also approved to amend rules in Jharkhand VAT Act, 2005 as had been decided at the meeting of Finance ministers of all states in Delhi recently to bring uniformity in VAT. As per the amendment the prevailing four per cent VAT (on goods) would be increased to five per cent while 12.5 per cent VAT would go up to 14 per cent.