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: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: articles on VAT and GST in India
 
 
VAT (Value Added Tax) »
 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
 Delhi budget unlikely to have any new tax proposals this year
 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

Govt. announces increases VAT
March, 23rd 2010

The Government of National Capital Territory of Delhi on Monday announced increase in the value added tax (VAT) on natural gas (CNG), diesel, dry fruits, Desi ghee, glucose and tea while withdrawing the Rs. 40 subsidy on LPG (cooking gas) in the Budget 2010 and cited Commonwealth Games as the reason.

Addressing media, after presenting the Budget, Delhi's Finance Minister A K Walia said the enhancement in VAT rates and withdrawal of subsidy on LPG were necessitated by the increased expenditure on infrastructural projects related to Commonwealth Games 2010.

Walia said that in view of increased expenditure due to the Commonwealth Games related projects and schemes and inadequate collection of taxes due to down turn in economy, additional sources of revenue are required.

Walia, however, assured that there would be no extra burden on the "common man" as the prices of essential commodities would not be increased.

"In any case with the implementation of GST next year, the subsidy on most items will have to be withdrawn," Walia said.

The Budget removes the current subsidy of Rs 40 on the LPG which will lead to increase in prices to Rs 322.80 per gas cylinder.

The withdrawal of subsidy will relieve the State Government of a burden of Rs 160 to Rs 170 crore per annum.

The VAT on CNG for use in transport sector has been hiked to five per cent which will translate into a hike of Rs 1.09 per litre while the VAT on diesel have been increased from 12.5 per cent to 20 per cent which amounts to a hike of Rs 2.37 per litre.

Moreover, the VAT on writing instruments, watches above Rs 5,000, mobile phones and accessories above Rs 10,000 and readymade garments has also been enhanced.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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