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: cpt :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: list of goods taxed at 4% :: VAT RATES :: VAT Audit :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« 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: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Government may reverse VAT hike if petrol prices rise
January, 05th 2015

If the petrol price keeps on increasing, the Goa government is open to reversing the hike in VAT on petrol, chief minister Laxmikant Parsekar said on Friday.

On January 1, the Goa government raised the VAT on petrol in Goa from 3.5% to 10%, thus raising the price of petrol in Goa by 3.2 per litre.

Speaking to the media on the sidelines of a cabinet briefing, Parsekar said that the Manohar Parrikar government had slashed VAT on petrol (April 2012) at a time when petrol prices were soaring. The VAT was then reduced to 0.1% from 20% but in August 2014, Parrikar raised the VAT to 3.5%.

Parsekar said, "Even though we have raised the VAT again, to 10%, our petrol price is still less compared to many other states in India. We have not even raised it to match petrol prices in other states. With this rise in VAT, the government will earn about 5 crore to 6 crore per month."

The chief minister said that if petrol prices keep on rising, the government will consider reducing the VAT on petrol once again. "Our government will always protect the interests of Goans and will take decisions accordingly. Even now, the people have taken the rise in petrol price with magnanimity. They are not complaining," Parsekar said.

Parsekar said that the Manohar Parrikar government had slashed VAT on petrol (April 2012) at a time when petrol prices were soaring. The VAT was then reduced to 0.1% from 20% but in August 2014, Parrikar raised the VAT to 3.5%

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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