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: empanelment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: form 3cd :: due date for vat payment
« VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

Budget lowers on VAT
March, 06th 2010

Jharkhand finance minister Raghubar Dassaid the allocations made in the budget will spur a 10% growth in the states gross domestic product (GDP). He was presenting the state budget for 2010-11 in the assembly in Ranchi on Friday.

Presenting an expenditure budget of Rs 22,297.50 crore, of which Rs 10,304.41 crore has been allocated for plan expenditure while Rs 11,993.18 crore for non-plan expenditure, Das has laid stress on strengthening the rural economy of the state by way of making available good quality seeds as well as providing marketing support to rural produce by starting urban haats at Jamshedpur and Ranchi to begin with.

Compared to the plan expenditure figure of Rs 8,200 crore in the 2009-10 budget, the current years figure shows an increase of 25.65%, by emphasising more on improving the states power generation capacity as well as strengthening its agricultural infrastructure.

Keeping in mind the states target of electrification of its villages by 2012 under the Rajiv Gandhi Grameen Vidyutikaran Yojna, where the Centre pays around 90% of the project cost, Das has provided more outlay for the same in the budget.

Das has also rolled back the value-added tax (VAT) on diesel from 20% to 18%, something which industry as well as petrol pump dealers have beendemanding for some time now.

Petrol pump owners in the state had been protesting the hike in VAT on diesel from 14.5% to 20% imposed by Jharkhand in early February, this year, with a target to generate an additional annual revenue to the tune of around Rs 150 crore.

To bring prices of essential commodities down to the extent possible, the Jharkhand finance minister has also exempted commodities like rice, wheat, onion, sabudana, etc from attracting any VAT.

Das, who has reduced VAT on sweetmeat from 12.5% to 4%, has also allocated Rs 300 crore in the budget for providing drinking water in the urban areas of the state. The budget, by way of making allocations, also lays stress on the total literacy drive in the state under Sarv Siksha Abhiyaan.

He has also allocated fund for strengthening the police infrastructure in the state, especially to combat Naxal mmenace in the affected districts.

Reacting to the state budget, the Singhbhum Chamber of Commerce & Industry (SCC&I) general secretary Suresh Sonthalia said, The rural economy thrust in the budget is a commendable one. It's raiseworthy that the government has decided to lower VAT on diesel from 20% according to industry demand."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

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