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 :: Central Excise rule to resale the machines to a new company :: VAT RATES :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: form 3cd :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Budget Extravaganza »
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early
 Five things that you can expect from the Mumbai civic budget today
 GST all set for July 1 rollout but casts shadow on state budgets
 Income-Tax collection revised in Rajasthan budget
 No new taxes likely in Maharashtra Budget
 H.P. budget devoid of any financial prudence
 GST, demonetisation todecide budget priorities
 Railways to come up with mini-budget tomorrow
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes

Hard on soft drinks, raising VAT from 12.5% to 20%: Maha Budget
March, 24th 2011

Finance minister Ajit Pawar adopted a hard stand on soft drinks, raising the VAT on them from 12.5% to 20%. Sunglasses will attract a 5% VAT.

The state government has decided to levy additional duty and tax on the electricity produced and sold in the state to fund infrastructure facilities that would be improved in areas having power-generation plants. This burden could be passed to the consumer.

Meanwhile, dry fruits are set to get cheaper with VAT dropping from 12.5% to 5%. The Mumbaikar's favourite snack, the vada pav, will also be cheaper with VAT falling by the same amount. Pawar has also decided to continue keeping the grocery list cheap, with tax exemptions to continue on LPG, rice, turmeric, chillies, coconut, cumin seeds, methi, parsley and sugar.

To please religious communities, the finance minister has proposed to exempt dhoop, loban and incense sticks from taxes.

Stamp duty on stocks and the capital market has been amended. "Transaction of securities, futures, delivery and no-delivery takes place in the share market and commodity exchanges. The transactions are charged at different rates of stamp duty, which makes collection of stamp duty a difficult task. To bring uniformity in collection of this tax, the finance department has proposed stamp duty of 0.0005% on all these transactions," Pawar said.

Pawar expressed satisfaction over the revenue collected through tax. "Last year many states enhanced VAT from 12.5% to 13.5%; in some states it was raised to 15%.

But without changing the tax rate in Maharashtra, the state has shown a record increase in the revenue collection," the finance minister said, adding, "This year too there is no proposal to increase the standard rate of VAT (12.5%)."

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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