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: VAT Audit :: form 3cd :: cpt :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4% :: VAT RATES :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: due date for vat payment
General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Commercial to pay composite tax
October, 26th 2009

The state transport department has planned tax revamp for commercial and private vehicles. In a major overhaul, the department has done away with realising taxes under various heads. It will now be charging `composite' tax from all sorts of vehicles under tax net.

Commercial vehicles will now be paying one `composite' tax instead of road tax and additional tax which was the practice so far. "It has been done to save vehicle owners the undue paper work, filling so many forms and running from one office to another," said sources.

Smaller commercial vehicles mostly pay small volume of taxes. "Paying them every three months can be done away with," added sources.

The owners of small commercial vehicles have also been extended the option to pay the "lump-sum" one-time tax and obtain a rebate of 10% from the department.

In order to add to the quality and comfort level of city bus service, city buses have been completely exempted from the additional tax. "Out of all the taxes that these buses pay, additional tax amounts to 70%," said sources. The number of city buses has not increased and is still short of the requirement. Besides, the newer city buses will have to pay lesser tax compared to older buses.

This might help towards weeding out older and unfit vehicles. So far department was realising taxes as per the operation, (km-distance that buses have operated for). Buses paying lump-sum tax for a year might get a rebate of 10%.

All vehicles plying on contract for schools, factories and educational institutions have been given 50% rebate in taxes. In order to encourage tourism, taxes on tourist buses and taxis from other states will be reduced.

The battery-operated private vehicles and those running on solar energy will also be exempted from tax. Besides, some stricter provisions have also been planned. The surrendered vehicles, when caught plying, will have to shell out five times the current penalty. Besides, extra tax will be levied on private vehicles operating as hired vehicles.

State will not realise any tax from CNG-operated taxis holding permit to ply in NCR. This has been done under the agreement between Uttar Pradesh, Haryana, Rajasthan and national capital region Delhi.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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