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: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: empanelment :: list of goods taxed at 4% :: VAT RATES :: ACCOUNTING STANDARD :: form 3cd :: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
VAT (Value Added Tax) »
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

TS asks Reserve Bank of India to pay VAT dues
October, 05th 2015

The Telangana State government has served a notice on the Reserve Bank of India, asking for Rs 200 crore VAT arrears from 2005 to 2012 on production of currency coins in the mint compounds located in Saifabad and Cherlapally in the city.

This is being viewed as a tit-for-tat move by the Telangana government in response to the RBI deducting Rs 1,247 crore from the Telangana government’s account in May this year towards payment of I-T arrears.

The RBI had secured an exemption from paying VAT from the Kiran Kumar Reddy government in 2012. But the Telangana government now wants to recover the arrears. The Union finance ministry purchases metals used for coins and supplies to the RBI to mint coins.

The YSR government in undivided AP had treated this as a “commercial transaction” between the Centre and the RBI and imposed 5 per cent VAT from 2005 to 2012.

The Saroornagar division of the Commercial Taxes department served the notices to the Union Finance ministry, RBI and mint compounds, seeking payment of VAT arrears.

Following this, RBI officials recently met commercial taxes minister Talasani Srinivas Yadav and ministry officials and sought a waiver of arrears on the ground that VAT had been exempted in 2012 and no VAT had ever been collected by any state government from the mint compounds located in Noida, Mumbai and Kolkata.

 
 
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