Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: list of goods taxed at 4% :: cpt :: form 3cd :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« VAT (Value Added Tax) »
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I

Gujarat government has no plan to reduce VAT on petrol, diesel
March, 08th 2013

The Value Added Tax (VAT) on petrol and diesel in Gujarat is lower than many other states and the government is not planning to reduce the levy any further, the state Assembly was informed today.

Replying to a question by Congress MLA Jasa Barad, Finance Minister Nitin Patel said that contrary to allegations made by opposition leaders, people in Gujarat were paying much less for petrol and diesel compared to other states.

Giving details of VAT and retail price of petrol in the neighbouring states, during the question answer session, he said: "VAT on petrol in Gujarat is 23 per cent while it is 26 per cent, 27 per cent and 25 per cent respectively in Rajasthan, Madhya Pradesh and Maharashtra.

"It is clear that VAT in Gujarat is not high and we do not intend to make any change."

He also pointed out that, "in Ahmedabad, price of petrol per litre is Rs 74.31, whereas in Jaipur it is Rs 74.15, in Kolkata Rs 78.34, in Lucknow Rs 76.21, Mumbai Rs 77.66, Pune Rs 77.92 and Patna Rs 75.52."

Patel said that contrary to the allegations levelled by the opposition Congress of charging high VAT from people of state, people in other states were paying more for a litre of petrol than their counterparts in Gujarat.

To a query whether the state has imposed any cess on petrol and diesel, Patel said that government charges 23 per cent and 21 per cent VAT on petrol and diesel respectively with additional 2.5 per cent and 1 per cent cess whereas on PNG (piped natural gas), the VAT is 12.5 per cent and cess is 2.5 per cent.

Later, in his reply on general discussion on state budget, he termed Rs 1,14,450 crore state budget as 'bouquet of flowers'.

"The budget presented by me is like bouquet of flowers where financial provisions are made for each and every section of the society for all round growth and development," he said.

He also pointed out that his government has taken care of social sector of the state as well by making almost double the provision compared to 2011-12.

"In the budget for 2011-12, Rs 21,665 crore were allocated for the social sector whereas in this year's budget we have set aside Rs 40,574 crore for this sector," said Patel.

"Last year per capita income at the national level was Rs 61,564, while in Gujarat it was Rs 89,668. This clearly shows that there is widespread growth and development in the state," he added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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