This free downloadable Handbook: VAT Rates FY 2020-21 will help you to know full VAT rates with H.S. Code. Full THIRD SCHEDULE of Value Added Tax and Supplementary Duty Act 2012 are provided in this PDF version downloadable handbook.
Besides the Third Schedule, a separate SRO 149 has been issued on 11 June 2020 which includes all about VDS. This SRO is very important for the accounts people to comply with withholding VAT. 43 services included in SRO 149 and if any withholding entity receives any services from this list of services then have to deduct VAT at source.
We have YouTube channel where we have uploaded a video on withholding VAT. From the below video, you will get full overview about VAT deducted at source.
The third schedule is divided into four tables and each table has two parts. Part A consists VAT imposable goods and part B consists VAT imposable service.
In table 1, imposable goods and services mentioned for which rates of VAT are applicable at 5%, table 2 at 7.5% and table 3 at 10%.
Table 4 mentioned the imposable goods and services for which specific amount of tax are applicable.
At the end of the table four, there are several rates of VAT and specific amount of tax in paragraph 3. You will get all the tables as provided in third schedule.
Like VAT handbook, we have also published Handbook: TDS rates FY 2020-21 with section references in this blog. We have also published Handbook: SD rates FY 2020-21 and Handbook: VAT exempted goods and services FY 2020-21 respectively. You may download the free PDF version handbook by visiting the posts.
The rates 2020-21 and the specific amount of tax may change time to time as circulated by the National Board of Revenue through SRO which are not included here. If any rate 2020-21 or specific amount differ with this blog then please see the NBR separate SRO for the updated rates.