Haryana to exempt VAT on Guar, incence, footwear

Chandigarh, Aug 23 (UNI) The Haryana Cabinet today approved a draft bill seeking to exempt VAT on Guar, incence and footwear costing up to Rs 300.

Under the draft bill, Guar, taxable at four per cent under Haryana Value Added Tax Act had been exempted from VAT. Incense sticks commonly known as agarbati, dhupkathi or dhupbati have been exempted from levy of tax under VAT, an official spokesman said after the cabinet meeting chaired by Chief Minister Bhupinder Singh Hooda.

Shoes and chappal with maximum retail price not exceeding Rs 300 per pair had been exempted from sales tax, he said.

The rate of interest being levied under the VAT Act would be reduced to one per cent for non or late payment of tax for the first 90 days and if the default continues thereafter the interest would be levied at two per cent.

UNI