We receive numerous queries regarding rate of tax on various items on which Schedule II is not very clear.
Hon’ble CCT had issued circular number 292 dt. 31/07/2006 to clarify rate of tax on various items such as – renewable energy devices, tarpaulin, ferro-alloys, ruhafza, components used in manufacture of transformer, Jute items, office stationary, scientific and medical equipments, electrical power capacitors, insulation tape, cut-out, photo and stamp albums, school bags, soap stone, lead oxide, UPS inverter, trade rubber, bi-metal bearing, paper board, brass and copper utensils, non-ferrous metal scrap, khoya and paneer, mini rice mill and allied products, plastic items (namely mugs, spoon, bowl, class, containers etc.) handkerchief, drip irrigation systems, dental equipments, etc.
A copy of said circular is attached below.
Readers are requested to note that rates mentioned in below circular which are 4% and 12.5% were amended from time to time and are presently 5% and 14% respectively.