Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TDS :: cpt :: empanelment
 
 
News Headlines »
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions
  Mentioning of Minor Head Code for accounting of Refund

Revenue from VAT below expectations in TN
October, 10th 2007
If the revenue from the value added tax (VAT) is not as expected, welfare schemes of the State Government would get affected.

During 2006-07, the revenue has registered an increase of only 1 per cent against an expected increase of 20 per cent, said the Tamil Nadu Minister for Commercial Taxes, Mr S.N.M. Ubayadulla, here.

There is need for traders to be honest. The Central Government would be compensating only 75 per cent of the deficit in revenue while switching over from sales tax to VAT system.

This would be available only for two years. If the revenue from VAT did not rise by then, the welfares schemes would get affected.

The Government could not afford to lose revenue and yet offer exemptions as desired by traders, he said while speaking at a meeting to celebrate World Bread Day organised by Tamilnadu Bakers Association in association with Madurai District Tiny and Small Scale Industries Association and Madurai Bakers Association.

Responding to the traders plea to grant tax exemption for bun and a reduction in tax for ghee, the Minister said the Monitoring Committee that would meet before the finalisation of the budget, would discuss them. He urged the traders to cooperate with the Government and to ensure that the revenue from tax is ensured.

The exhibition on the History of Breads put up by Kaleesuwari Refineries, Chennai, was an attraction during the two-day event.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions