Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT RATES :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: cpt
 
 
General »
 Why abolishing personal income tax may not be a good idea
 Questions about the GST cess
 How to prepare for the looming tax-extension deadline
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
 Haryana to set up scrutiny panel on GST benefits
 Waive certain taxes for companies in insolvency proceeding
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
 All eyes are on GST as Centre plans higher social pension
 Exporters demand total exemption from GST
 Here's what you must know to stay clear of taxman
 Filing income tax returns is not enough, you need to link Aadhaar with PAN before deadline ends

Sugar mills demand abolition of purchase tax
October, 16th 2014

Punjab-based private sugar mills today sought abolition of purchase tax on sugar cane, saying low sugar prices and high input cost hit the industry hard.

The demand was made by a delegation of sugar mills under the banner of Punjab Private Sugar Mills Association which met Punjab Deputy Chief Minister Sukhbir Singh Badal here.

The Deputy CM assured the delegation that the state government would consider their demands.

The delegation sought the abolition of purchase tax on sugar cane under the Punjab VAT Act with effect from the crushing season of 2013-14.

"The sugar mills in Punjab have been suffering because of low sugar prices and high cane prices which have made their mills uncompetitive," Association President Jarnail Singh Wahid said.

Against the industry's input cost of Rs 35 per kg, the wholesale price of sugar is prevailing at Rs 32.10 per kg, he said while pointing out that it had become unviable for them to run their mills.

He said the Punjab government is levying 2.5 per cent purchase tax on sugarcane which works out at about Rs 10 per quintal.

"There is no tax in sugar producing states like Maharashtra and Uttar Pradesh but Punjab levies tax on cane," he said adding that sugar mills in Punjab are also paying cess on cane at a rate of 50 paise per quintal, besides purchase tax.

He further said despite sugar surpluses, millers were unable to export the same since the production cost was too high and sugar exports have become unviable.

The industry suggested that the state government could also look at the option of bringing purchase tax on par with that of neighbouring state Haryana. In Haryana, the purchase tax on cane is Rs 1.5 per quintal.

On the request of industry, Badal informed the delegation that the state was ready to take pending purchase tax on sugar cane from April 1, 2005, to November 19, 2011, in installments.

Punjab sugarmills are to pay purchase tax to the tune of Rs 113 crore.

Referring to another demand put forth by the association to waive off the interest/penalty over the due amounts, Badal said the government would take this issue to the cabinet where the final decision would be taken.

Meanwhile Deputy CM assured that decision on their demands would be taken soon and he directed officers of Excise and Taxation Department to come out a proposal securing the interests of sugar mills by next week.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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