Karnataka Budget 2010-2011-Proposed Amendments in VAT provisions

Friday, March 12, 2010, 3:33
GST
Articles, Featured
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Rates of VAT proposed to be increased with effect from 1 April 2010

VAT rate of 4% proposed to be increased to 5% on all goods except declared goods
VAT rate of 12.50% proposed to be increased to 13.50%
VAT rate of 12.50 % on tobacco products proposed to be increased to 15%

Tax Concessions

VAT exemption for 3 years proposed for new hotels in 100 selected tourist destination
Tax rate proposed to be reduced from 12.50 % to 5 % on masala powder mixtures, macaroni, sports trophies, shields and medals, all kinds of scrap, electric generators of less than 15 KVA, railway concrete sleepers, school bags costing up to Rs.200/-
VAT exemption on paddy, rice, wheat, pulses and products thereof proposed to be extended till March 2011

Other Key Proposals

Total Turnover limit for VAT audit increased from Rs.40 lakhs to Rs.60 lakhs
E-filing of returns and electronic payments of tax to be introduced
Threshold limit for registration increased from Rs. 2 lakhs to Rs. 5 lakhs
Annual turnover limit for Composition Scheme increased from Rs.15 to Rs.25 lakhs
Levy of VAT on tobacco products on MRP basis
Option for dealers in medicines to pay tax on MRP basis on sale of other goods
Relief of payment of interest, if sales tax arrears are paid before 30th June 2010
Re-introduction of Advance Ruling mechanism for seeking clarification

Tags: Declared goods, KVAt amedment, tobacco products

43 Comments on “Karnataka Budget 2010-2011-Proposed Amendments in VAT provisions”

Sheetal Patil wrote on 29 April, 2010, 12:29
Sir,

Please suggest me whether sweet lassi, curd, flavoured milk, butter milk is taxable in Karnataka for local & Interstate sales.
deepa prabhu wrote on 2 May, 2010, 12:09
what is the tax structure for builders for Vat and service tax in karnataka.I wish to have details.
shafi wrote on 9 May, 2010, 0:30
what is the tax structure for builders for Vat and service tax in karnataka.I wish to have details

Read more: http://www.taxguru.in/goods-and-service-tax/karnataka-budget-2010-2011-proposed-amendments-in-vat-provisions.html#ixzz0nMl3kvqf
Ratan K Jain wrote on 27 July, 2010, 13:31
what is rate of tax for Jewellary items in karnataka?
Santhosh wrote on 9 August, 2010, 9:40
I Agree Threshold limit for registration increased from Rs. 2 lakhs to Rs. 5 lakhs
but what is monthly limit
prakash wrote on 18 August, 2010, 23:34
it is not monthly limit it annual
Krishna Kumar wrote on 22 August, 2010, 17:32
What is the VAT rate for abrasive wheels in Karnataka?
mmuraledhar wrote on 15 December, 2010, 12:17
psl confirm the vat tax in karnataka for camara accessory – sales

(digital camara accessory- data cards and other accessory
for sales )
mmuraledhar wrote on 15 December, 2010, 12:19
pls confirm the vat tax in karnatak for camara accessory – sales

(digital camara accessory – data cards and other accessory for sales )
Prashanth Shetty S wrote on 10 January, 2011, 15:26
pls confirm vat tax on following product/medicines

Tarana 3mg tablets
Rhogam Ultra filtered plus
Unwanted 72
N.L.N.SWAMY wrote on 21 January, 2011, 11:10
Please confirm the rate of tax for electronic goods ,t.v.and computers
SHRI wrote on 27 January, 2011, 20:59
there is any changes from Feb 2011 in karnataka sales tax law.
satish gowda wrote on 25 February, 2011, 10:41
As per Yestarday budget,2011-12

1) Juwellary incresed 1 % to 2%

2) Other vat 13.5% to 14% increased.
SHEELA wrote on 19 March, 2011, 12:30
PLEASE LET ME KNOW THE CURRENT (2011) VAT PERCENTAGE FOR DIAMOND SEGMENTED CIRCULAR SAW BLADE AND DIAMOND SEGMENTS. THESE ARE USED FOR CUTTING STONES.
NATARAJU R K wrote on 21 March, 2011, 15:46
What is the max. rate of vat for the year 2011-12
Rohini wrote on 30 March, 2011, 11:34
please confirm the vat rate of electronics goods
Rohini wrote on 30 March, 2011, 11:36
please confirm the vat rate of electronics produncts
nagaraj wrote on 1 April, 2011, 12:39
please send vate rates amendment vat rates for the tear 2011-2012
B. Mahammad Ghouse wrote on 4 April, 2011, 11:31
Let me have the replies for the above
mahadev wrote on 6 April, 2011, 16:38
hello sir pls suggest me what is current rate of vat 2011
punit wrote on 8 April, 2011, 15:14
whats the rate of vat in karnataka state for designer outfits
punit wrote on 8 April, 2011, 15:15
whats the rate of vat in karnataka for designer outfits???/
Rudrappa wrote on 12 April, 2011, 10:58
What is the rate of tax in Gift Articles in Karnataka Value added tax for A.Y.2010-2011
Mrs.Shetty wrote on 19 April, 2011, 13:51
Please tell me the rate of VAT in karnataka for ” Biochemials ” after 1.4.2011
badri wrote on 19 April, 2011, 19:39
Sir,
I want to know what is the differnce between works contract and order for sales wheather orders taken in usual cource in the business premises amounts to works contract and its tax rate in karnataka for the year 2011-12 on gold or silver jewellery
RAJU wrote on 28 April, 2011, 21:11
Whate is the tax charges for Graphics Designing
Babu P B wrote on 30 April, 2011, 21:47
confirm what is rate of composite tax rate on hardware items for the year 2011-12
Babu P B wrote on 30 April, 2011, 21:48
that is hardware items and general items in karnataka
ABDUL SATTAR KHAN wrote on 31 May, 2011, 12:37
GOVT MAY BE THINK FOR EXEMPTION OF VAT ON DOMESTIC LPG
saju mohan wrote on 9 June, 2011, 12:19
What is the vat rate in karnataka for webbing belts?
Guru Prasad wrote on 21 June, 2011, 0:33
Hello,

Please tell me as to what taxes am I supposed to pay if I am selling a software within karnataka.

Regards,

Guru
K.VENKATESH wrote on 24 June, 2011, 12:35
IN COMPOSITION IF ANY BUISCNESS TURNOVER NOT MORE THEN 25,00,000.00 THE RATE IS 1% ONLY
K C SINGH wrote on 27 June, 2011, 16:03
Dear Sir,

Please suggest me, the rate of tax for Exhust Fan with motor used in Green Houses for Hardening of Plants, for the local sales and Interstate sales
nithyananda wrote on 4 July, 2011, 12:24
hello sir

i want to know the rate tax on roller blinds in karnataka sales
shekina wrote on 8 July, 2011, 11:50
hello
i wanted detailed information Taxation over automation products , sice i am doing a project on it

thanks & Regards
Ms.Shekina.Kandi
girish h wrote on 15 August, 2011, 22:05
im a generator dealer…i just want t confirm whether i hv to reg or not?? if i not registered wat may causes??
s.baskar wrote on 8 September, 2011, 18:12
Dear Sir

Please tel me . i supply in pvc material what rate in karnataka.
Wazeer Ahmed wrote on 9 September, 2011, 16:01
please tel me the percentage of hollow blocks & inter lock Karnataka
hemanth wrote on 11 September, 2011, 14:12
sir
i want to know the vat for semi processed food item like chappati,poori,parota which are to be sold in half cooked form.
Jay wrote on 7 October, 2011, 14:32
Respected Sir,

I want be information of different rates of vat as per goods clasiffication……
Waseem wrote on 24 October, 2011, 11:10
Can u tell me what is the vat tax interest rate in 2011-12?
subbaram naidu wrote on 21 December, 2011, 12:51
sir pls conformed 2010-2011 year 240 audit what is the tournover
usha wrote on 5 January, 2012, 14:00
please specify the VAT rate % in karnataka for the following machines:
1. Chain saw, Brush cutter, Earth auger, Mist blower, Hedge trimmer.