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: due date for vat payment :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: empanelment :: cpt :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARDS
VAT (Value Added Tax) »
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation
 HC seeks Delhi, centre reply on restaurants charging excess VAT, service tax
 Shakti Autos booked for evading VAT, bogus sales
 VAT sops to IOCL Paradip refinery hits Odisha revenue growth
 Government to announce new VAT rates in October
 World Wide Gst, Vat, Sales Tax Rate
 Article on Transition Process of Registrations under VAT / Service Tax Laws to GST Law

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 2016 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