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AnnexureSCHEDULE O!A.111.1ENTRY TAXITEMS OF COMMON CONSUMPTION AND BASIC RAW MATERIALSRate of tax / percent1. Coal including coke in all its forms but excluding charcoal2. Cotton yarn, including cotton
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What is items of common consumption?
Items of common consumption refer to goods that are frequently purchased and consumed by the general public, often including food, beverages, household items, and personal care products.
Who is required to file items of common consumption?
Entities or individuals who manufacture, import, or sell goods classified as items of common consumption are typically required to file reports or declarations regarding these items.
How to fill out items of common consumption?
To fill out items of common consumption, one should provide details such as the type of item, quantity, value, and relevant classification codes, often through a specified form or online portal.
What is the purpose of items of common consumption?
The purpose of tracking items of common consumption is to monitor market trends, facilitate taxation, ensure compliance with regulations, and provide data for economic analysis.
What information must be reported on items of common consumption?
Required information typically includes the item description, quantity, value, country of origin, intended use, and any applicable certification or compliance details.
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