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: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: cpt :: TDS :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
« 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

Ministers differ over VAT on textile traders
January, 31st 2012

The imposition of Value Added Tax on textile traders found its echo in the State Cabinet meeting on Monday when it caused heated exchanges between Ministers who were supportive of levy of VAT and those who wanted its withdrawal on the ground that it would ultimately hit the common man, the Congress vote bank.

The development follows a recent request by Cooperation Minister Kasu Venkatakrishna Reddy who wanted Chief Minister N. Kiran Kumar Reddy to consider lifting of VAT at least in a phased manner.

Labour Minister Danam Nagender raised the issue seeking withdrawal of the tax on the ground that the traders would devise ways to evade the tax or pass the burden to customers. Primary Education Minister S. Sailajanath, however, objected to the request, saying that the government should not be seen as favouring traders, a well-to-do section.

A couple of Ministers who supported Mr. Nagender are understood to have opined that imposition of VAT would, in turn, lead to hike in prices of textiles as the traders would pass the burden to customers, the poor and lower middle class sections in particular. This would not augur well for the party, they reportedly said.

The Chief Minister informed his colleagues about the conduct of the budget session of the Assembly tentatively from February 13. Accordingly, Finance Minister Anam Ramnarayan Reddy would present the budget, a people-oriented one, on February 17 and the Ministers should be prepared to handle the Opposition effectively on various issues.

Some Ministers are learnt to have expressed concern over the criticism by the Opposition parties, the TDP and the YSR Congress in particular, about the delay in the conduct of elections to local bodies. Mr. Kiran Kumar Reddy, however, is said to have briefed them about the efforts under way to hold elections to cooperative bodies in April which would be followed by polls to urban local bodies by the same month-end. This would be followed by elections to panchayat raj institutions.

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

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