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
Latest Expert Exchange
« VAT (Value Added Tax) »
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I

VAT set-offs: Major companies threaten to shift from city
February, 23rd 2012

Even as Maharashtra stands to boast Rs 1.12 lakh crore being approved by a high power committee in terms of investment in the state for this fiscal and nearly 25,000 crore in investments for Pune, key companies are threatening to withdraw from Pune over the issue of Value Added Tax (VAT) or sales tax at source set-offs.

This has prompted the government to do a rethink. The state industries department said they are giving the matter the highest priority and would come out with a solution soon. Principal secretary, industries, Dr K Shivaji told The Indian Express that the government is discussing the issue as it has definitely affected the sentiment of investors in our state.

The cause of unrest will be addressed. The amendment in the act came into place last March. There have been issues and we have had several discussions. Since it is affecting sentiment of investors and those wanting to expand in the state, there will be a rethink. We will take up the matter on high priority, he said.

With huge investors banking on the city and the state, recently, several key companies had threatened to move out their investments from the state over this issue. The companies included Volkswagen, Mahindra and Bajaj. This pullout would cost the state losses in terms of investment running into more than 4,000 crore. With all the three companies having their base in Pune at Chakan, Dr Shivaji said that there were feelers from many companies in Pune and in the state about the unrest. Pune is a seat for the auto sector and many leading companies have invested in the city. There is definitely unrest after the VAT Act amendment 52 (a). The industries department and the finance department are discussing the issue.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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