RMG Accounts

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Wednesday, July 4, 2018

Changes of VALUE ADDED TAX (VAT) brought in Finance Bill 2018.

This is the information that the following changes of VALUE ADDED TAX (VAT) brought in Finance Bill 2018.

VALUE ADDED TAX (VAT)






B) TRUNCATED BASE PRICE :



SL No.
Services Code
Service Title
Existing VAT Rate
New VAT Rate

1
S001. 20
Non-AC Restaurant
7.50%
7%

2
S010. 20
Real Estate Entity (Flat Sale)





From 1-1100 sft
1.50%
2%



From 1101 to 1600  sft
2.50%
4.50%



1601 sft and above
4.50%
                -  

3
  S004.00
Contractor
6%
7%

4
  S024.00
Manufacturing of Furniture
6%
7%



Selling of Furniture
4%
5%

5
  S048.00
Transport Contractor (Petroleum)
  4.50%
5%

6
  S060.00
Buyer of Auction Goods
4%
5%

7
S078.00
Branded Garments Outlet
                     4%
5%

8
S079.00
Virtual Business
                        -  
5%

9
S099.10
Information Technology Enabled Services
4.50%
5%

10
S004.00
Nirman Shangstha
7%
6%







Note : VAT on procurement provider remained 5% as it was in 2017 and all other provisions remained unchanged
as it was in last fiscal year (2017).



  


So all of you are maintained and followed the above changes in dealing with suppliers.

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