Do GOACAN a favour, circulate this email to your
family members, relatives, neighbours and friends.
Help others be BETTER INFORMED,
The time is come for the people of Goa
to ORGANISE not AGONISE !!
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Documented by Goa Desc Resource Centre Ph:2252660 Website: www.goadesc.org Email: [EMAIL PROTECTED] Press Clippings on the web: http://www.goadesc.org/mem/ -------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Tax on drugs and medicines is 4% under the Goa VAT Act. ------------------------------------------------------------------------------------- Commercial Taxes Advertisement
OFFICE OF THE COMMISSIONER OF COMMERCIAL TAXES GOVERNMENT OF GOA, PANAJI
ATTENTION CONSUMERS !!
ATTENTION DEALERS !!
It is brought to the notice of the public that on consumer goods, Value Added Tax (VAT) is not payable over and above the Maximum Retail Price (MRP) marked on the packaged commodities.
The MRP marked on the packaged commodities is inclusive of all taxes and as such no VAT can be charged by a dealer over and above MRP, as MRP includes VAT.
However in respect of drugs and medicines where the packages are marked with MRP with local tax extra, VAT is chargeable on MRP. The rate of tax on drugs and medicines is 4% under the Goa Value Added Tax Act.
The goods which were purchased on payment of sales tax by the dealer during the year 2004-2005 and which were in stock as on 31/3/05 for these goods the dealer is eligible to claim input tax credit in respect of sales tax already paid. Hence the dealer while selling these goods after 1/4/2005 should charge VAT only on the net price excluding sales tax, paid. As the sales tax paid is being set off for the these goods under VAT regime.
Issued by: The Commissioner of Commercial Taxes Government of Goa -------------------------------------- HERALD 27/4/05 page 11 -------------------------------------
--------------------------------------------------------------------------- GOA CIVIC AND CONSUMER ACTION NETWORK --------------------------------------------------------------------------- an initiative of GOA DESC RESOURCE CENTRE to promote civic and consumer rights in Goa --------------------------------------------------------------------------- GOACAN Post Box 78 Mapusa, Goa 403 507 Tel: 2252660 mailto:[EMAIL PROTECTED] website: www.goacan.org ---------------------------------------------------------------------------
