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: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: form 3cd
 
 
News Headlines »
 Tax-saving for young earners simplified
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case

UP introduces Value Added Tax
January, 02nd 2008
Roll out of Value Added Tax (VAT) in the country became complete, with Uttar Pradesh adopting the new tax system that has made 91 items including kerosene, milk and medicines cheaper on account of reduced rate of levy.

VAT, which replaces the existing sales tax, was introduced in April 2005. While a majority of the states switched to VAT, some states held out. They have all since adopted VAT.

"Keeping in view the needs of the common man, tax rate on 91 items like kerosene, milk and medicines have been reduced under the VAT," Uttar Pradesh Chief Minister Mayawati told reporters here.

Uttar Pradesh Governor T V Rajeswar had, yesterday, promulgated an ordinance for implementation of VAT, which was rung in today amid protests by traders who took part in a shutdown of markets.

Finance Minister P Chidambaram congratulated the UP government for introducing VAT and "wish them success."

Mayawati termed the implementation of VAT as a historic step that would help the common man get essential and quality items at minimum prices.

The Chief Minister expressed confidence that with the introduction of VAT and aligning the state's tax structure on par with others, illegal transportation of goods will be curbed and all sections of people would benefit.

'Chikan' clothes, baranasi sarees and handloom items have been exempted from VAT, besides all varieties of seeds and agriculture equipments. Tax rate has also been reduced on chemical fertilizers, insecticides, pesticides, water pumps, tractors and tractor-trolleys and items used in information technology.

Mayawati asked manufacturers and the traders to pass on the benefit of this tax reduction to the consumers.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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