In exercise of the powers conferred by Section 17 of the Jammu and Kashmir Value Added Act, 2005, the Government hereby direct that Schedule annexed to the said Act shall be substituted by the Schedule annexed to this notification.
This notification shall come into force w.e.f. 01.05.2005.
SCHEDULE A
Section 16 (2)
Commodities under VAT ( 0 %)
* Shall figure in 0% rate category only upto 31/03/2006, thereafter shall figure in 4% rate category.
SCHEDULE B
Commodities under special rate of 1% under VAT
SCHEDULE C
turmeric and dry chillies
* Shall figure in 0% rate category only up to 31/03/2006, thereafter shall figure in 4% rate category.
LIST OF INDUSTRIAL INPUTS AND I.T.PRODUCTS
4% Rate items
Entry No: 70 of Schedule C
Schedule D
Section 16 ( 2)
Commodities to be taxed at the Rate of 12.5% under VAT
Explanation: Timber includes all kinds of wood, standing trees, logs, planks, rafters or any size or variety other than those coming under any specific entry in this schedule or in any other schedule
SCHEDULE :E
Section 21(9) (iii)
Negative List of Items for Input Tax Credit