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 RATES :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: cpt :: TDS
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

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