quadkopters would soon start charging taxes on sales.
I wanted to know the RC goods (Motors, ESC, Controllers, wires, lipo, chargers etc) these goods come under which classification??
Any help would he highly appreciated.. :hatsoff: :hatsoff:
14.5% VAT and the same rate of CST
( i don't remember the actual category, but it is 14.5%). Check the VAT rates with your local authority, they might vary.
In Maharashtra its 5% or 12.5% depending on the goods (want to find which goods is applicable for what rate) and if its out of Maharashtra sales then its 4% (CST i think)
This may help, but an old article
http://yourstory.com/2012/09/service-tax-vat-or-cst-an-overview-taxation-basics-for-startups/ (http://yourstory.com/2012/09/service-tax-vat-or-cst-an-overview-taxation-basics-for-startups/)
And would taxation lead to increase in price too, or would it be contained within the current price. By the way $ too is on the decline. (Rs 58.57 as of today)
Well taxing would be over the total purchase.
$ came today but the goods that are in stock are been bought then the $ was around Rs. 62
Quote from: satyagupta on May 18, 2014, 07:17:15 PM
if its out of Maharashtra sales then its 4% (CST i think)
Dear Satya,
Based on my understanding, for interstate sales CST is same rate as VAT rate when sold to end user.
4% CST is applicable only if the sale is to a registered dealer against form C.
This is because the registered dealer has to charge again VAT or CST when he resell the item.
Members, please correct me if I am wrong.
Thats what i my CA has told me,
If sale is out of Maharashtra then its 4% if end user has a C-Form then it's 2%