What is the vat tax in Karnataka and how it will work?
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The Following commodities have been exempted from Tax from 1.04.2015 to 31.3.2016:
Paddy, Rice and Wheat
Pulses
Flour and Soji of Rice and Wheat and Maida of Wheat
The Following commodities have been exempted from Tax from 1.04.2015
Footwear of all kinds costing up to five Hundred Rupees per pair
Handmade Floor mats and runners, utility bags and other utility products made of banana fibre and other natural fibres of agricultural waste, but excluding rubberized fibre products.
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**VAT TAX IN KARNATAKA**
The Following commodities have been exempted from Tax from 1.04.2015 to 31.3.2016:
Paddy, Rice and Wheat
Pulses
Flour and Soji of Rice and Wheat and Maida of Wheat
The Following commodities have been exempted from Tax from 1.04.2015
Footwear of all kinds costing up to five Hundred Rupees per pair
Handmade Floor mats and runners, utility bags and other utility products made of banana fibre and other natural fibres of agricultural waste, but excluding rubberized fibre products.
Tax on following commodities have been reduced to 5.5%:
Kerosene wick Stoves
M-Sand (Manufactured Sand)
Mobile Phone Charger whether sold along with the mobile phone in sealed pack or otherwise.
The following goods have been notified as Capital Goods/Industrial Inputs/Packing Materials taxable at 5.5% VAT:
M-Sand manufacturing Machinery
Pallets, Box Pallets and other Load Boards: Pallet collars
Pre-sensitized lithographic plate.
Industrial cables namely high Voltage Cable, XLPE Cable, Jelly filled cable, Optical Fibre cable and PVC Cable
VAT rate of 17% has been increased to 20% on cigarettes, Cigars, Gutkha and other manufactured tobacco
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Karnataka VAT Rate changes from 5% to 5.5% and 14% to 4.5% with effect from 1st August 2012 on Computer Software Cerels, Coffee, Tea, package Food Tootpaste, Soaps & Detergents Cement, Iron and Steel, Sanitary, Plywood and Glass Motor vehicles spare parts Photograpy, photo print, processing.