www.dvat.gov.in Delhi Sales Tax Rates – DVAT Tax Rate

www.dvat.gov.in Delhi Sales Tax Rates – DVAT Tax Rate

Rates of tax under DVAT Act – Delhi Value added tax Rates at www.dvat.gov.in

The DVAT Act prescribes the following rates of tax on different types of  goods:

(a) 1% Rate: Goods listed in the Second Schedule
(b) 5% Rate: Goods listed in the Third Schedule and the printing works contracts.
(c) 20% Rate: Goods listed in the Fourth Schedule.
(d) 12.5% Rate: Goods involved in the execution of works contracts except printing works contract.
(e) 12.5% Rate: Any goods not mentioned in the Second, Third and Fourth Schedules or in the First Schedule (exempted goods)
(f) Rates of 0.1%, 1%, 2.5 & 3% applicable for bullion traders, drugs and medicines traders and works contractors under composition scheme notified for them in accordance with the conditions mentioned in these schemes. Rate
of 1% applicable to the dealers having turnover up to Rs. 50 lakhs and Rs.One crore in case of drugs & medicine dealers opting for the composition scheme in accordance with the conditions of the scheme.

Some basic concepts for calculation of DVAT
• “Output Tax” is the tax you charge on sales.
• ‘Input Tax’ is the tax (DVAT) paid on your purchases of business inputs. Tax payable is output tax reduced by input tax.
• When you do not file a proper return within the due dates, your tax liability is assessed by default assessment.

Website : www.dvat.gov.in