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: due date for vat payment :: TDS :: list of goods taxed at 4% :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: articles on VAT and GST in India
 
 
VAT (Value Added Tax) »
 15% rise in collectionof VAT for Oct-Nov
 China to simplify tax scheme after switch to VAT
 Cabinet clears key proposals on VAT, regularisation of jobs
 Cases of VAT overcharging flood consumer forum
 State seeks relief from Centre
 Flat rate VAT changes for small businesses explained
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation

Industries demand VAT revision
January, 09th 2014

Industries associations of the state today demanded rationalisation of value added tax (VAT) levied on their finished products in Odisha.

The demand was put forth by a delegation, headed by the president of the Confederation Indian Industries (CII), Odisha chapter, M.K. Gupta, during their meeting with chief secretary J.K. Mohapatra today.

A delegation member said the state government was levying five per cent VAT on finished products manufactured by the micro, small and medium enterprises of the state.

However, in the neighbouring states of Bengal, Bihar and Andhra Pradesh, the VAT rate was consierably less at only two per cent.

“The Odisha government should either rationalise VAT at par with other states or hike the entry tax on the goods coming from other states. This will make the micro, small and medium enterprise products of the state competitive,” said a delegation member.

They also pushed for easier and simpler instalments for micro, small and medium enterprises for the payment of VAT.

The delegation members wanted the state government to ask heavy industries, state government departments, public sector units and private power distribution companies to purchase materials from the micro, small and medium enterprises of the state on a priority basis.

In turn, they offered quality service delivery and price at par with those offered in other states.

The industries also demanded the establishment of a multipurpose industrial estate in the state.

The CII state president said: “The state government showed positive response to our demands. The CII will submit a comparative statement on the VAT levied in other states. We hope the government will take a progressive decision.”

A state government official said the demands, including the VAT rationalisation, would be considered.

Steps would also be taken to ask the heavy industries, public sector undertakings and private companies to purchase the micro, small and medium enterprise products that are produced in the state.

The official also said the finance department had, on June 7, 2011, exempted VAT on the purchase of plants and machineries and raw materials used by the industries for five years under the Industrial Policy, 2007.

The state government also provided land at a subsidised rate for setting up industrial units under its industrial policy. Also, the state government gives several financial benefits including capital investment subsidy and interest subsidy for the establishment of micro, small and medium enterprise units, the official said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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