Tax rates of DVAT
As per Delhi Value Added Tax Act different Tax rates are
applicable to different types of goods
1% DVAT Rate
Goods Listed in the Second Schedule
5% DVAT Rate
Goods Listed in the Third Schedule
20% DVAT Rate
Goods listed in the Fourth Schedule
12.50% DVAT Rate
Goods involved in Execution of Works Contract
12.50% DVAT Rate
Any goods not mentioned in the Second, Third, or Fourth
Schedules above or in the First Schedule (Exempted Goods)
Penalties for various defaults under Delhi Value Added Tax (DVAT) Act
Section 86(12) Where a tax deficiency arises: Penalty u/s 86(12)
Section 86(15) Prepares records and accounts i.e. false misleading or deceptive
Section 86(20) Statement to the commissioner: False, misleading, deceptive, omits statements
Section 86(22) A casual failed to furnish return or other document with return in the due date