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: empanelment :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit :: VAT RATES :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: form 3cd
 
 
News Headlines »
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash

Delhi govt simplifies VAT payment procedures
February, 05th 2014

The Delhi government on Saturday decided to simplify the VAT payment procedures for traders while announcing a series of initiatives for the business community.

Chief minister Arvind Kejriwal made the announcements while interacting with various traders and markets organisations of the city at Delhi Secretariat in New Delhi.

"The government is working on a process to simplify the VAT procedure by putting effective and user friendly systems in place. This will help the traders in paying their tax regularly and without any hassle and will also help the government in increasing its revenue without causing any inconvenience to traders, said Kejriwal.

The government has also decided to scrap Audit Report 1 (AR1) which was mandatory for traders with an annual turnover exceeding Rs. 10 crore to file.

A government official said this separate procedure prescribed during the previous government by the VAT authorities was causing unnecessary hardships for traders.

"This report was not only lengthy running into several pages, but also cumbersome to file," the official said.

Besides that, the government also raised the ceiling limit of composition scheme from Rs. 50 lakh to Rs. 1 crore for availing a simplified VAT procedure by small dealers.

"This means that traders with a turnover of Rs. 1 crore will now be eligible to get the benefit of a simplified procedure for calculating the VAT on goods sold by them. The simplified procedure allows small traders to pay one per cent tax on their turnover," explained the official.

The Chief Minister also assured the traders that the government would consider raising the ceiling to exempt small traders from VAT registration. Currently, traders with a turnover less than Rs. 20 lakh do not need to register with VAT authorities.

Kejriwal also said the government intends to reduce human interface between VAT authorities and traders.

"The government plans to discourage random inspections by VAT inspectors to markets and trading organisations," 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 - Achievements

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