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VAT rates for goods and services. The standard rate of VAT increased to 20% on 4 January 2011 (from 17.5%). Some things are exempt from VAT, eg postage stamps, financial and property transactions. The VAT rate businesses charge depends on their goods and services. Check the rates of VAT on different goods and services.
A VAT dealer can find in these schedules, the rate (s) of tax applicable to the goods sold. Pl refer to the schedules to know the rate of tax on any particular item. All goods not listed in Schedule I, III, IV & VI of the VAT Act 2005, are liable to tax at the standard rate(12.5%).