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: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARD :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: TDS :: empanelment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: form 3cd
 
 
« Budget Extravaganza »
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift
 Budget 2018: Section 80C limit may be increased
 Middle Class Can Hope For A Big Tax Relief In Budget 2018-19, Says Report
 Startup investors seek abolition of angel tax in Budget 2018-19
 Budget 2018 must avoid the temptation to bolster government revenues myopically
 How GST has taken away the wind out of the Union Budget presentation
 Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18.
 New look finance ministry team to frame contours of Budget 2018
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early

Some relief for taxpayers
March, 30th 2010

The Delhi Budget for 2010-11 was passed by a voice vote in the State Assembly on Monday after the opposition BJP walked out in protest against the proposed increase in Value Added Tax on various items and demanding restoration of the subsidy on domestic gas.

Earlier, wrapping up the debate, Finance Minister A. K. Walia announced a rollback of various VAT hike proposals announced in the Budget. He said the 5 per cent VAT proposed on CNG meant for transport now stands withdrawn. Similarly rassi, ban and newar'', embroidery and zari items, motion picture distribution and plastic scrap and glass scrap have been exempted from the purview of VAT.

The Minister said the proposed increase in VAT from 5 per cent to 12.5 per cent on items such as all other scraps'', tea, cocoa and coffee including coffee beans, all utensils and cutlery items (including pressure cookers/pans) except those made of precious metals stands restored to the original 5 per cent.

As for withdrawal of subsidy on domestic cooking gas, Dr. Walia said when on January 28 last year the Centre reduced the LPG price by Rs.25 per cylinder, the Delhi Government had not withdrawn the subsidy. But now, he said, it stands withdrawn. However, he announced removal of 4 per cent VAT from LPG because of which consumers would get a relief of Rs.12 per cylinder, which would now cost about Rs.310 each.

The Minister also announced that the scholarships of Rs.50 for minority students announced in the Budget have now been increased to Rs.100 per student.

Briefing the media later, the Minister explained that the total budgetary impact of all these extra spending and lower revenue would be nearly Rs.200 crore. This amount would be raised through better governance, increase in revenue through the Transport Department and with the cooperation of the traders, who had assisted in the increase in VAT collections in the past. The diesel price raised in the Delhi Budget has not been tinkered with. Giving the rationale behind the increase, the Minister said the Delhi Government was incurring a loss of Rs.350 crore on this head every year since 2006-07.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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