Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: due date for vat payment :: empanelment :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: TDS
 
 
General »
 Why abolishing personal income tax may not be a good idea
 Questions about the GST cess
 How to prepare for the looming tax-extension deadline
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
 Haryana to set up scrutiny panel on GST benefits
 Waive certain taxes for companies in insolvency proceeding
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
 All eyes are on GST as Centre plans higher social pension
 Exporters demand total exemption from GST
 Here's what you must know to stay clear of taxman
 Filing income tax returns is not enough, you need to link Aadhaar with PAN before deadline ends

CoalMin urges FM not to disturb mode for collecting SED
February, 03rd 2012

Coal Minister Sriprakash Jaiswal has urged the Finance Ministry not to disturb the existing arrangement for levying Stowing Excise Duty (SED) on coal dispatches, under which his ministry collects the proceeds and uses it for development of mines.

The Coal Ministry expects to collect about Rs 1,100 crore per annum from SED and fears that the levy would be subsumed following implementation of Goods and Services Tax (GST).

"In pre-Budget consultations with Finance Minister Pranab Mukherjee, Coal Minister Sriprakash Jaiswal has sought an exemption to SED from being subsumed into the proposed GST in lines with exemption granted to the indirect taxes on five petroleum products," a top Coal Ministry official told PTI.

The issue was taken up by Jaiswal in his pre-Budget consultation meeting with Finance Minister Pranab Mukherjee on January 31.

At present, the Coal Ministry levies a Rs 20 per tonne duty on coal dispatches by firms for rehabilitation, stowing and infrastructure development of abandoned mines. The SED was doubled to Rs 20 a tonne in December, 2011, after the Cabinet raised the maximum limit to Rs 50 a tonne.

The Coal Ministry has argued that in absence of SED, it would face a resource crunch for implementation of mines conservation and development works as per provisions in Coal Mines Act, 1974.

"If these specific purpose levies are subsumed into the GST, the funds generated from these levies will become part of the central kitty... Resultantly, the availability of funds for development of renewable energy sources and for the activities related to the conservation and development of mines will become restricted," a ministry document said.

The rationale for continuing with SED without it being subsumed in the proposed GST is critically important from the environment perspective, he added.

Jaiswal made similar demands from the Finance Ministry last year too.

The Bill on GST -- which seeks to overhaul the indirect tax regime -- is currently with the Parliamentary Standing Committee.

Besides SED, the coal sector currently collects Clean Energy Cess (CEC), which is used for harnessing renewable energy sources to reduce dependence on the fossil fuels

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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