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: VAT RATES :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: ACCOUNTING STANDARDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Welcome VAT reforms
February, 13th 2014

It refers to welcome initiative of Delhi government for simplifying VAT system, mainly to check evils of inspector-raaj and corruption in the system. New steps will rather give added revenue to Delhi government, apart from reducing hardships of traders. But more practical reforms are necessary. It is often seen that consumers avoid taking cash-memos/bills etc because VAT/service-tax etc is imposed as some additive on bills/cash-memos. Shopkeepers and service-providers lure people not to insist on cash-memos/bills to avoid levying of VAT/service-tax etc. This is not only a fraud on exchequer but also prevents consumers from their right of warranty-claims in case of need.

System should be that all cash-memos/ bills etc for ultimate consumers may have just one net payable price printed inclusive of all taxes including also VAT/service-tax. Traders and service-providers can be asked to deposit VAT/service-tax on basis of net payable cost received by them as printed on cash-memos/bills etc. All such measures will prevent evasion of tax resulting in extra revenue-earning both for the centre and the states. Union government should set up a committee to study local and state taxes on various commodities and to suggest common rates of VAT and other local taxes to be applicable in all states uniformly at the same rate. Meeting of all state-governments then can be convened to agree on report of the committee. This will make manufacturers to print one single net payable ‘Maximum Retail Price (MRP)’ on various commodities to be applicable throughout the country. After such reforms are implemented, Department of Consumer Affairs of Delhi government can launch a publicity-campaign to make consumers aware of their consumer-rights by insisting on cash-memos/invoices etc.

System will also save consumers from other malpractices like is being done presently by restaurants in Delhi area where they are now compulsorily charging ‘tips’ for their employees by adding ‘service-charge’ in addition to several taxes including also service-tax. Such small-small aspects usually go unnoticed by consumers, and should be taken as a fraud on consumers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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