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When does VAT take effect in India and what is the rate?


When does VAT take effect in India and what is the rate?

VAT took effect April 1, 2005. Under the new VAT system, two rates of 4% and 12.5% will be applied. The lower rate of 4% will be levied on key products such as medicines and drugs, agricultural and industrial goods. The 12.5% rate will be applied to the rest of the goods sold in India. Source(s): bbc.co.uk
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