What is VAT in MP?

What is VAT in MP?

Value Added Tax or VAT is nothing but a simple levy or charge brought along by the Central Government of India to be levied on the producers of goods, products, and materials in the country. The registration and filing of VAT is looked after by the commercial taxes department of Madhya Pradesh. …

What is the meaning a tax free goods in MP VAT Act?

Under VAT Act only the goods specified in Part III of Schedule II shall be treated as tax paid goods. These type of goods are liable to tax only at the point of first sale in Madhya Pradesh. Therefore, on subsequent sale such goods are not liable to tax. Such goods are also not eligible for input tax rebate.

How can I get GST number in Madhya Pradesh?

Documents needed for GST Registration in Madhya Pradesh: Business Address Proof (Electricity bill / NOC / Rent Agreement, etc.) Business Address Proof (Electricity bill / NOC / Rent Agreement, etc.) Business Address Proof (Electricity bill / NOC / Rent Agreement, etc.) LLP Agreement.

How can I register for PT in MP?

Please note that for Professional Tax Registration, following process is followed: (1) Download Professional Tax Registration Template from MPCTD Portal from Section E-Services -> New Registration -> PT Employer / Person Registration. (2) Update required details in downloaded PT Registration Form.

When does Madhya Pradesh VAT Act come into force?

– (1) This Act may be called the Madhya Pradesh VAT Act, 2002. (2) It extends to the whole of Madhya Pradesh . (3) It shall come into force on such date as the State Government may, by notification, appoint. Definitions. – In this Act, unless there is anything repugnant in the subject or context,-

What is Value Added Tax in Madhya Pradesh?

Madhya Pradesh VAT. Value Added Tax or VAT is nothing but a simple levy or charge brought along by the Central Government of India to be levied on the producers of goods, products, and materials in the country. VAT has now been subsumed by the uniform tax regime – GST.

Which is the latest law in Madhya Pradesh?

Be it enacted by the Madhya Pradesh Legislature in the Fifty third year of the Republic of India as follows :- Short Title, Extent and Commencement. – (1) This Act may be called the Madhya Pradesh VAT Act, 2002. (2) It extends to the whole of Madhya Pradesh .

What are the Schedule IV goods in Madhya Pradesh?

Schedule IV goods are those goods that do not fall in the above segments and attract a VAT of 13.5%. Certain goods such as Cola products, plastic carry bags and cigarettes attract higher VAT ranging from 15% to 22.5% Dealers based on the kind of goods sold will have to register for VAT as per the rules of the Madhya Pradesh VAT act of 2002.

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