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: form 3cd :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4%
 
 
VAT (Value Added Tax) »
 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
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

Industry hopes VAT, luxury tax will be cut
March, 17th 2016

Chief minister Siddaramaiah is all set to present his 11th budget on Friday, and the most expectant are the industries and trade bodies who are hoping that he will give them sops to boost the state's economy.
They are hoping against hope that the CM would on priority keep his promise to allocate funds for infrastructure in Bengaluru, a concern raised by several industry captains at the recent Invest Karnataka meet, as it contributes 70% of the state revenue.

BT Manohar, chairman, State Taxes Committee, FKCCI, said the government has been introducing and implementing e-initiatives to ease the process of doing business and for higher growth of tax revenue. "As these have yielded positive results, we want to see the government augment such initiatives and consider reducing tax rates," he added.

The industry is also looking forward to reduction in value added tax (VAT) and luxury tax to promote tourism in Karnataka. Officials who are part of the budget preparation indicated that the CM may consider this demand.

Manohar said the neighbouring states of Telangana, Andhra Pradesh, Maharashtra, Kerala, Tamil Nadu and Goa have been charging only 5% VAT on electronic and other goods compared to 14.5 %, irrespective of the value. "So we are hoping the Siddaramaiah government will bring it on par with other states, which in turn, will boost revenue and contribute to the state exchequer,'' he added.

Trade activist Sajjan Raj Mehta said they are hoping the government will remove the additional 0.5 % VAT levied (by the previous BJP government) to tackle drought in the state. He said small-scale industries and the garment sector are banking on tax concession and relaxation of rules to ensure they can compete with the burgeoning online trade.

The industries are also hoping for clear-cut plans on acquisition of land, which has become a major stumbling block for expansion and setting up new units in the state, particularly in and around Bengaluru.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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