{"id":4793,"date":"2018-05-29T01:34:48","date_gmt":"2018-05-28T20:04:48","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4793"},"modified":"2019-09-25T17:52:23","modified_gmt":"2019-09-25T12:22:23","slug":"gujarat-value-added-tax","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/gujarat-value-added-tax\/","title":{"rendered":"Gujarat Value Added Tax"},"content":{"rendered":"

VAT is applicable on all goods and products sold in the state, and the rates will depend on the products being sold and purchased. Any trader or dealer that has a sale or purchase turnover of a minimum of Rs. 5 lakhs is liable to pay VAT as per the VAT Act. There are different schedules for products that can be taxed and that are exempt from tax, and each of these has different rates.<\/p>\n

Schedule 1:<\/strong>\u00a0Schedule 1 includes those goods that are exempt from paying taxes, these products can be Agate stones and articles made from them, agricultural implements like huller or opener, thrashers for agricultural uses. The exemption can also be extended to aids of any kind used for people with disabilities, such as Braille equipment, hearing aids, speech trainers, wheelchairs, crutches, orthopedic footwear, heart valves, an intra-ocular lens for cataract operations, etc.<\/p>\n

Schedule 2:<\/strong>\u00a0The goods or products under the schedule that can be taxed are:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Particulars<\/strong><\/td>\nRate of Taxes<\/strong><\/td>\n<\/tr>\n
Agricultural implement which do not fall under schedule 1<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Bamboo or articles made thereof<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Bicycles, tricycles, rickshaws, pedal rickshaws and the accessories thereof<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Betel nut and areca nuts<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Biscuits (unbranded)<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Bolts, nuts, screws, and fasteners<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Brass metal parts<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Bricks, roofing tiles<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Trunks, buckets, drums,<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Candles made of wax<\/td>\n4 paise for every 1 rupee<\/td>\n<\/tr>\n
Gold, Silver, other precious metals; jewelry made of these precious metals; precious and semi-precious stones, pearls of any type<\/td>\n1 paise for every 1 rupee<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The other products covered as per this schedule will be drugs and medication, medical equipment, edible oils, all types of fabric, herbs and barks, dyes, hides and skins of animals, honey, etc. There are many products under this schedule with over 200 products being mentioned.<\/p>\n

Schedule 3:<\/strong>\u00a0The sale of these products mentioned below are subject to paying VAT.<\/p>\n\n\n\n\n\n\n\n\n\n
Particulars<\/strong><\/td>\nRate of Tax<\/strong><\/td>\n<\/tr>\n
High speed diesel oil<\/td>\n24 paise for every 1 rupee<\/td>\n<\/tr>\n
Gasoline for Aviation<\/td>\n26 paise for every 1 rupee<\/td>\n<\/tr>\n
Gasoline for Aviation (duty paid)<\/td>\n13 paise for every 1 rupee<\/td>\n<\/tr>\n
Aviation turbine fuel (bonded)<\/td>\n38 paise for every 1 rupee<\/td>\n<\/tr>\n
Aviation turbine fuel (duty paid)<\/td>\n13 paise for every 1 rupee<\/td>\n<\/tr>\n
Any motor spirit of other kinds<\/td>\n26 paise for every 1 rupee<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Gujarat VAT Registration:<\/h2>\n

Any individual who is in the business of trading of goods and products which has an annual turnover of Rs. 5 lakhs and taxable turnover that exceeds Rs. 10, 000 in one financial year is liable to pay VAT<\/a> compulsorily as per the VAT Act. They will need to register their business and the form they can use for such a registration will be Form 101. The form along with the supporting documents should be provided to the registration authority.<\/p>\n

The documents (2 copies) that will have to be attested by a Sales-tax Practitioner and submitted along with the form, are mentioned below:<\/p>\n

    \n
  1. 2 passport sized photographs\n