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: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: form 3cd :: cpt :: articles on VAT and GST in India :: TDS
 
 
VAT (Value Added Tax) »
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill
 Income Tax Appellate Tribunal Bangalore Banches Bangalore 'A' Bench DB Case Causelist for The Week from 22-05-2017 To 25-05-2017
 Amendments in Second schedule appended to Delhi Value Added Tax Act, 2004
 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

Tax lobby flays Delhi govt's VAT hike move
December, 14th 2009

The Delhi government's proposal to hike value added tax (VAT) from 4% to 5% is seen running counter to the Centre's move to introduce the goods and services tax (GST) in a bid to bring about uniformity in the tax structure.

The Sheila Dixit-led government's announcement came after tax collection for last fiscal came in at Rs 11,175 crore, down from Rs 13,000 crore the previous fiscal.

The one percentage point hike in VAT rate could mean a hit of Rs 1,000 crore more for taxpayers, said All India Tax Advocates Forum (AITAF), a taxation advocacy group.

"It's bizarre that at a time when the central government, run by the Congress, is streamlining the tax structure in favour of the common man, a state government headed by its own chief minister is looking to impose unwarranted burden on the people," AITAF president M K Gandhi said.

In case the Dikshit government succeeds, the price of medicines and over 150 items of daily use, besides IT services, would go up further. The government "must wait for GST," Gandhi said. Asim Dasgupta, the chairman of the Empowered Committee of State Finance Ministers, says the GST regime is the first time a continuous set of relief will be available for tax paid either on inputs or in the previous stage of distributive trade. It starts from the producers or service providers and goes all the way to the retailers.

Several important central and state taxes will be subsumed in the GST. The central sales tax on inter-state tax, which has already been reduced from 4% to 2%, will be totally phased out.

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

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