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: ACCOUNTING STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: VAT RATES :: cpt :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company
 
 
VAT (Value Added Tax) »
 Haryana govt exempts solar devices from VAT net
 Court rules out VAT on Paradise equity transfer
 VAT gone but riddle of derivatives traded on commodity exchanges lives on
 Rule 2(L) Of Cenvat Credit Rules, 2004 Amended
 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

VAT burden forces traders to shift base to Gujarat
October, 25th 2013

A group of wholesale distributors in the state are planning to shift base to Gujarat seeking better business prospects after getting positive feelers from Gujarat chief minister Narendra Modi and state industries department.

Nearly 20 wholesale distributors out of the total of 240 wholesalers in the state who had downed their shutters during the last two years due to alleged unscientific VAT ( Value Added Tax) collection in the state, will leave for Ahmedabad on November 9 to hold talks with ministers and officials in Gujarat. A team of wholesale distributors had already visited Gujarat last month and submitted a positive report.

Twenty wholesale distributors had formed 'Marketing and Distributing Company of Keralites' with a capital of Rs 5 crore by pooling Rs 25 lakh each and plan to start wholesale distribution in Gujarat.

Company chairman C E Chakkunny who has been active in the field for five decades said it has become impossible to trade in Kerala due to the adverse business climate including 14.5% VAT levied on many products.

He said the wholesale distributors had been paying annual tax returns of 4% after VAT was implemented in the state in 2005. "We were shocked to receive a notice from the state government stating that we had to pay VAT of 12.5% along with 17% fine besides collection charges, with retrospective effect. The tax department has been harassing us by sealing our offices and freezing our bank accounts, leaving us with no option but to migrate to other states, he said.

"When compared to Kerala, Gujarat has much less tax rates. For many items which attract tax of 14.5% in the state, it is just 5% in Gujarat," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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