Jharkhand VAT Guide

The purpose of Jharkhand Value Added Tax Act, 2003 is for the levy of tax on the sale or purchase of goods in the State of Jharkhand. The article focuses on Jharkhand Value Added Tax Act, 2003 and the conditions of registration, qualifying turnover, Jharkhand VAT return filing, VAT rate, VAT Ppayment and power of the tribunal and commissioner in related matters.

Jharkhand VAT Registration

As per the Jharkhand Value Added Tax Act, 2003, Jharkhand VAT registration is applicable for the following persons or businesses:

whose total turnover during the immediately preceding year and previous to the appointed day exceeded rupees five lakhs and whose taxable turnover has been in excess of rupees ten lakhs in a year.
who was been registered according to the earlier law or under the terms of the Central Act as on the appointed day.
whose total turnover and taxable turnover in any year has first been in excess of the stated levels of turnover.
who is subject to registration or liable for registration as a dealer under the Act or Central Act at any time.

Jharkhand VAT Return Filing

According to Jharkhand Value Added Tax Act, all dealers are required to file VAT returns on a monthly, quarterly or six monthly basis. In Jharkhand, VAT return can be submitted online. Those having VAT registration should furnish complete and correct particulars in the VAT returns and should never fail to pay tax due.

Jharkhand VAT Rates

The VAT rates applicable as per the Jharkhand Value Added Tax Act, 2003 are as follows:

Jharkhand VAT Schedule I - List of VAT exempted products
Jharkhand VAT Schedule II - Part A - Products for which tax is levied at 1% VAT rate
Jharkhand VAT Schedule II - Part B - Products for which tax is levied at 5% VAT rate
Jharkhand VAT Schedule II - Part C - Products taxable at 5% VAT rate
Jharkhand VAT Schedule II - Part D - Products taxable at 14% VAT rate
Jharkhand VAT Schedule II - Part E - Goods taxable at special rates not exceeding 50% subject to the government’s discretion
Jharkhand VAT Schedule II - Part F - Goods taxable at 10% and 1% VAT rate