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% :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: list of goods taxed at 4% :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« VAT (Value Added Tax) »
 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
 HC seeks Delhi, centre reply on restaurants charging excess VAT, service tax
 Shakti Autos booked for evading VAT, bogus sales
 VAT sops to IOCL Paradip refinery hits Odisha revenue growth
 Government to announce new VAT rates in October
 World Wide Gst, Vat, Sales Tax Rate
 Article on Transition Process of Registrations under VAT / Service Tax Laws to GST Law

State traders up ante against imposition of VAT
February, 24th 2012

Peeved at the recent cabinet decision to impose VAT (Value Added Tax) on textile and sugar, the traders across the state have decided to go on agitational path from next week.

The cabinet decision to impose levy on these two items along with its endorsement for hike in the base VAT rate from four per cent to five per cent is likely to be reflected in the state budget for 2012-13, which will be presented in the assembly tomorrow.

Both the measures together are expected to net additional revenue of Rs 530 crore to the state government.
We are just waiting for the presentation of the budget on February 24.State finance minister has assured us to ruminate on the imposition of five per cent tax on sugar. Plans are afoot for a state wide protest after the presentation f the budget if the government does not take a holistic approach in this regard, said Sudhakar Panda, Chairman, Bhubaneswar Merchant Association.

Besides Andhra Pradesh, where VAT is partly implemented on sugar, no other neighbouring state has imposed the levy on this sweetener, he added. Panda said disparity in tax and price would only encourage unscrupulous traders and loss of revenue for the State government.

In inter-state border areas there would surely be inflow of sugar from adjoining states into Orissa by these unscrupulous elements to cash in on the price disparity, he pointed out.

The wholesale price of sugar, which is now Rs 3,150 per quintal, is likely to shoot up by Rs 200 per quintal. Similarly, the textile traders, smarting under the cabinet decision, are planning to launch a state-wide agitation demanding withdrawal of entry tax which collected at two per cent from textile products.

We are planning protests against the collection of entry tax from March first week after executive meeting of the association which is slated to be held in next four to five days, said Mohanlal Jain, general secretary, All Orissa Textile Merchant Association.

The traders feared that due to imposition of five percent VAT and two percent entry tax, the cost of the textile products in the state will be dearer by 20 per cent forcing the consumers to turn to neighbouring states where these products will be cheaper as no other state including West Bengal, Jharkhand and Andhra Pradesh are collecting entry tax on textile items.

It may be noted that after announcing VAT rate of four per cent on textile and sugar last year, the government was forced to withdraw the levy following intense pressure from the agitating traders.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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