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: empanelment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

Low VAT collection on cigarettes hurts contribution to cancer fund
October, 17th 2013

Low collection of value added tax (VAT) on sale of cigarettes in Punjab is talking a toll on the government's campaign to control the incidence of cancer in the state. A major share of the tax levied on the sale of cigarettes is contributed towards cancer relief fund.

Sources said that the state government, through a notification issued on April 30, had made important changes regarding contribution to the cancer relief fund, established in 2011.

The fund was set up to award financial assistance to cancer patients in Punjab to get treatment in empanelled hospitals.

According to the new notification, the state government had made it mandatory for the department of excise and taxation to deposit 33% of total tax levied on sale of cigarettes towards the fund.

"However, since the import of cigarettes from other states had decreased due to very high VAT in Punjab, there is no substantial increase in tax collection as compared to last year. Due to stagnant collections, contribution to the cancer relief fund is not as much as we had expected," said a senior official.

"For the first five months of the current financial year, we were able to deposit Rs 18 crore to the fund. However, had the VAT not been hiked substantially, there would have been more import of cigarettes as compared to last year and hence more contribution to the fund eventually," he added.

Importantly, the fund percentage proportion of contribution through sale of cigarettes was quite high as compared to other sources.

While the government had directed all departments, semi-government institutions and local bodies to contribute 2% of the income generated from sale of their properties to the fund, it had made it mandatory to contribute 1% of the tender amount of all infrastructural projects, costing over Rs 50 crore each.

All societies, trusts, corporations and boards constituted by the state government were also told to deposit 2% of their total income towards the fund.

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

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