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: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TDS :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: cpt :: articles on VAT and GST in India :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment
 
 
VAT (Value Added Tax) »
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 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

No abolition of VAT on textiles
January, 30th 2012

Chief minister N Kiran Kumar Reddy turned down the demand of textile traders on withdrawal of five per cent Value Added Tax (VAT) levied on textiles in the state.

The textile traders across the state have been observing a textile trade bandh for the past five days demanding abolition of VAT.

A delegation of textile traders' association met the chief minister here this morning to put forth their demand.
The chief minister informed them that the government has levied VAT on textile traders having a turnover of over Rs 10 crore. He said the VAT has been imposed to raise money for implementing various welfare schemes and programmes launched by the state government for poor and downtrodden sections of the society.

Questioning the rationale behind seeking exemption of VAT by big traders, Kiran Reddy stated the government has not imposed VAT on the traders whose turnover is below Rs 5 lakh. The government has imposed one percent VAT on traders having turnover of Rs 40 lakh and levying VAT on the traders whose turnover is over Rs 10 crore, he added.

He said that government has imposed VAT on the lines of other states and urged the big textile owners not to resort to agitations seeking exemption from VAT. He, however, assured them they would not be subjected to any kind of harassment in the collection of tax.

Kiran Kumar Reddy told them that no tax is being levied on powerlooms, handlooms and zari material.
Unhappy with the response from the chief minister, the textile traders decided to continue the agitation and would soon meet to decide the future course of action, according to Twin Cities' VAT-JAC of APFTA convener, Ammanabolu Prakash.
He said the imposition of VAT on textiles has hit traders hard and most of them have moved to neighbouring states. He appealed to the government to keep the order in abeyance till the Goods and Service Tax is implemented across the country. There are one lakh traders across the state. The trade bandh would be continued till January 31.

 
 
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 Vision

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