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: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: ACCOUNTING STANDARD :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 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

Textile stir a dampner for weddings
February, 01st 2012

The ongoing textile traders' strike has taken the sheen out of weddings in the state in the auspicious Maga masam. With the textile shops shutting down the shutters since January 23 over imposition of 5 per cent value added tax (VAT), the marriage plans have gone awry.

The period starting from January 26 to February-end is considered most auspicious and not less than 50,000 weddings are slated in this period.

A function hall owner in Maheswaram mandal told TOI that his hall was booked up to February-end but some marriage parties approached him postponing the wedding dates. "They are unable to buy saris, suits and other wedding finery due to the ongoing strike of the textile traders. We don't know when this stalemate will end," he said.

Textile shops in mandals and towns are also closed as sources said the textile traders' associations have imposed a penalty of Rs 51,000 if any trader opens his shop. While everything is in place, the closure of textile shops has turned upside down the wedding plans of people. Not only weddings, functions like house-warming and cradle ceremonies are also hit because of the textile stir.

Priest Ravi Sarma of Shadnagar said Telugus and other community people eagerly wait for Maga masam to solemnize the marriages as the month as per Hindu mythology is considered very auspicious. "In February 2, 3,10 and 12 dates are most important and good muhurthams for weddings. But with the textile traders' stir continuing, it remains to be seen as to how many would go ahead with the marriages," he said.

Some people eager to not to miss the wedding schedule are rushing to Raichur, Bangalore and Bidar in Karnataka, Nanded in Maharashtra, Vellore and Kanchi in Tamil Nadu to buy clothes. Sources said people from Mahbubnagar, Hyderabad, Rangareddy, Chittoor, Anantapur and Nizamabad districts are flocking to these places to buy wedding clothes. "We cannot postpone the wedding. So, we went to Raichur to purchase clothes for the wedding in our family," Ramakanth of Gadwal said.

When contacted, state convenor of textile association Malleswar said 5 per cent VAT is too high. "This type of tax regime is not imposed anywhere in the country. Jharkhand, Orissa, Tamil Nadu and Rajasthan levied the tax but abolished following a stir by cloth merchants," he said.

Mahbubnagar district cloth merchants association general secretary Narendar said usually they do Rs 2,000 crore business during the Maga masam but due to the strike their revenues have taken a beating. "We would not rest till the government abolishes VAT," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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