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: empanelment :: form 3cd :: articles on VAT and GST in India :: due date for vat payment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Maharashtra govt plans to raise VAT to tackle farm crisis
December, 09th 2015

The state government is likely to increase Value Added Tax (VAT) by 1-2 per cent to shore up additional revenue to tackle recurring droughts in Maharashtra.

The government, which spent Rs 8,000 crore on drought-relief measures in 2014-15, believes the amount needed in the next financial year will be no less than Rs 10,000 crore. But the biggest challenge is, where will the money come from, as the Centre cannot entirely fund the state’s needs.

The state is not in favour of a complete loan waiver despite growing demands from the Congress-NCP. “A loan waiver is not going to help farmers. It will serve only 22 per cent farmers in the state. The rest will be out of loan bracket,” said an official.

“Preliminary reports indicate the number of villages to be covered for aid will go up from 15,000 to 25,000,” a highly placed source toldThe Indian Express.
In all, 40,000 villages in the state are reeling under drought. So far, villages shortlisted for compensation of crop loss during the kharif season was 15,000. But a decision to also add those affected by the rabi season will take that number up to 25,000.

“In the prevailing situation, there is no other way but to increase taxes. Some states have imposed taxes up to 15.5 per cent. Whereas, Maharashtra has enforced only 12.5 per cent VAT. If we can increase VAT by 1-2 per cent, the additional funds can be spent on the agriculture sector,” the source said.

While exploring various options, including seeking financial packages from the Centre, the state believes it will have to come up with a robust budget next year for the farm sector to ride out the crisis. In Marathwada, Vidarbha and parts of north and west Maharashtra, the drought has continued for the fourth consecutive year.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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