Uttar Pradesh Value Added Tax or VAT was operable earlier when GST was non-existent. It functioned according to the state's corresponding laws on VAT. However, with the Modi Government, only one uniform tax regime (GST) will be operable!
By virtue of being the largest state in India with a Gross Domestic Product (GDP) of above Rs.8,86,000 crores and over five lakh manufacturers and traders, Uttar Pradesh was one of the last states to hold out against the introduction of Value Added Tax (VAT) in 2007. The state legislature, however, passed the Uttar Pradesh Value Added Tax Act, 2008 which came into effect from January 1st, 2008 under the ambit of the Uttar Pradesh Tax board. The Uttar Pradesh VAT Act, 2008, therefore, regulates VAT taxation across the state.
The list of goods taxed at 1% are listed below:
The list of IT products taxed at 4% VAT are as listed below:
The list of industrial input rate at 4% VAT are listed below:
Goods exempted from tax are as follows:
In Uttar Pradesh, VAT registration is mandatory for all dealers who sell imported goods or manufactured goods made up of imported items. Dealers who start their businesses during an assessment year have to register for VAT. Also, VAT registration is compulsory for all casual dealers, persons residing outside Uttar Pradesh but doing business in the state, liquor sellers, brokers, commission agents, transporters and persons running cold storages.
Dealers in the business of sensitive products such as oil, iron-steel, coal, medicine, cement, cement, electronic goods have to file VAT returns on a monthly basis. However, dealers who have not been dealing in any of the aforementioned items should file their VAT return (monthly) 20 days from the last day of the preceding month. All dealers should file their annual VAT returns before or on October 31 (for preceding assessment year). The due date for VAT payment and UP VAT return falls on the same date.
The following goods are exempt from tax:
The list of IT products taxed at 4% VAT are as listed below:
The Uttar Pradesh VAT Act, 2008, therefore, regulates VAT taxation across the state.
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