VAT reduced on 28 goods in Bihar
VAT reduced on 28 goods in Bihar
With a view to bringing uniformity in the taxation system, the Bihar government today reduced Value Added Tax (VAT) rates on 28 goods.
Bihar Deputy Chief Minister Sushil Kumar Modi told newspersons here that VAT had been reduced from 12.50 per cent to 4 per cent on common goods, including tea, candle, sports goods, medical surgical items, old cars, road construction equipment and other items.
Certified seeds had been made tax free in the state, he said adding that in the first phase the VAT rates had been reduced on 28 goods and it would be lowered on additional goods in near future.
Mr Modi said a committee headed by Additional Finance Commissioner A K Chauhan and with representatives of Bihar Chamber of Commerce and Bihar Industry Association had been constituted to study the tax structure in other states and to look into 6000 related memoranda received by the NDA government of Bihar.
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