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What items of importance are exempted in HP VAT ACT?

April 26, 2017ACT exempted HP importance items VAT

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What items of importance are exempted in HP VAT ACT?

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43 items in schedule-B of HP VAT Act are exempted from VAT and produce of farmers are not subject to any tax. Beside this HP VAT Act provides a composition scheme for small dealers having turnover of Rs. 20 lacs on paying tax equivalent to 1% of the gross turnover.