In tune with the Centre’s project of promoting LED lights, the state government has reduced VAT on LED tubes from 12. Institutional and imported vehicles will also be subjected to double the tax rate. Coconut hair oil sold in packs of up to 500 ml will get costlier as VAT on it has been increased to 12. The state government has increased the value added tax (VAT) rate from 5 per cent to 5.5 per cent.5 per cent. Twenty five per cent interest payment under the VAT Act and balance dues will also be waived, said the minister. Accordingly, for vehicles up to 99 cc, the rate of tax will be 8 per cent; for vehicles between 100 cc and 299cc, rate of tax will be 9 per cent; while for vehicles of 300 cc and above, the tax rate will be 10 per cent., as well as on imported vehicles will be levied at twice the respective rates.The Centre’s schemes have also found place in the state government’s budget.5 per cent to 5.5 to 5.5 per cent.He also announced an amnesty scheme for Profession Tax enrolment holders where tax liability and penalty will be restricted to the previous three years., are liable to be taxed at the rate of 21 per cent.Presenting his second budget, finance minister Sudhir Mungantiwar said, "Two wheelers and three wheelers for personal use are liable to be taxed at the rate of seven per cent, while vehicles for non-personal use such as company, undertakings etc.5 to 5."Hotel hopping will also become costly, with VAT composition tax China ferro titanium Manufacturers rate enhanced to 8 per cent for hotels and restaurants with sales turnover of Rs 3 crore and above. To accomplish the "Swachch Bharat" mission, VAT on pyrolysis oil has also been reduced from 12. Pyrolysis oil is produced by processing plastic waste and other organic waste. A tax based on engine capacity is proposed to be levied on these vehicles. Further, there will be levy of entry tax on marble and granite slabs and increase in lottery tax on lottery draws. VAT on steel wire mesh, barbed wire, chain links, pencil boxes, stapler pins, dusters, gum and gum-sticks used by students has been reduced from 12.5 per cent.Those looking to buy two- and three- wheelers will have to shell out more, with the state government, in its annual budget for 2016-17, having proposed raising motor vehicle tax on these vehicles based on their engine capacity. Under the amnesty scheme for tax administered by the Sales Tax department, interest and penalty will be waived for dues up to March 31, 2005, subject to full tax payment, and also for disputed dues from April 1, 2005 to March 31, 2012, subject to full tax payment. However, tax on vehicles in the name of companies, undertakings etc.5 per cent, save for declared goods. Bamboo products, except for bamboo furniture, are now exempt from VAT..