Vat reduction recommended in iron fittings

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Chandigarh, Nov 19 (UNI) The meeting of State Level Consultative Committee today recommended reduction of VAT on Iron and Steel fittings of doors, windows and furniture from 12.5 per cent to four per cent and bring the same at par with Punjab State.

The Committee, in its eight meeting held under the Chairmanship of Finance and Excise and Taxation Minister Birender Singh, also agreed to the industry's demand of Petrol Pump dealers in the state for allowing rebate in sales in respect of stock loss and evaporation loss on HSD and Motor Spirit as per the norms fixed by the Ministry of Petroleum, an official release said here.


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