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Recommendation to reduce VAT

CHANDIGARH: The eighth meeting of the State Level Consultative Committee chaired by Finance and Excise and Taxation Minister Birender Singh has decided to recommend reduction of Value Added Tax (VAT) on iron and steel fittings of doors, windows and furniture from 12.5 per cent to 4 per cent and bring the same at par with Punjab.

The committee also agreed to the demand of petrol pump dealers in the State for allowing rebate in sales in respect of stock loss and evaporation loss on high-speed diesel and motor spirit as per the norms fixed by the Union Ministry of Petroleum.

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