« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  I-T exemption may be raised in Budget... CEOs favour FBT abolition in 08-09 Budget: Assocham survey... » Entry tax is adjustable on all items except sugar: Manpreet November, 27th 2007 The Punjab government has clarified that the Entry Tax being levied on all items, except sugar, is aimed at checking evasion of value-added tax (VAT). The tax is fully refundable on all items except sugar, he said, adding that the amount taken in the form of entry tax would be deducted from the amount a trader pays as VAT, State Finance Minister Manpreet Singh Badal told reporters here. "Imposition of Entry Tax on other items, barring sugar, is just shifting of the stage of VAT to evade the alleged large scale tax evasion and ultimately it will be adjusted against VAT, but in case of sugar, new tax was imposed to stop dumping of the same in Punjab from other states," he said. Levying tax on the entry point of the state on iron and steel, chemicals, yarns and sugar at the rate of four per cent similar to VAT would definitely stop the tax evasion and benefit the sugar mills, he said. On generating more sources of revenue for the state, he said that a meeting of the co-ordination committee of both the ruling alliance partners Shiromani Akali Dal (SAD) and BJP would be held on the November 28 to discuss the issue.