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: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TDS :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

CMs VAT stand annoys Danam
April, 25th 2012

Chief minister N Kiran Kumar Reddy and labour minister Danam Nagender are at loggerheads over the issue of slashing VAT on textiles. Till recently a supporter of the chief minister, Danam is now seething with anger at Kiran Kumar and wants him to explain to the public as to how he suddenly changed his stand on VAT on textiles after having firmly opposed it till now.

Danam has reportedly dashed off a letter demanding that the decision to drastically cut down VAT on textiles be kept in abeyance till the chief minister gives an explanation to the cabinet and the public over the latter's change of heart. The letter, addressed to Kiran Kumar two days ago, reminded the chief minister of the cabinet meeting held a month ago wherein Kiran had vehemently opposed the demand for withdrawal of VAT on textiles on the grounds that the state would lose funds up to Rs 1,000 crore per annum.

According to the letter, in the cabinet meeting last month, the chief minister had fiercely opposed Danam's suggestion that VAT on textiles be immediately lifted as it was greatly harming the business interests of medium-range textile traders. Since Kiran Kumar, supported by finance minister Anam Ramanarayan Reddy, had turned down the labour minister's suggestion by stating that such a decision would not only affect the revenue of the state, but also ensure a loss of funds' flow to the state from the Centre, how could the chief minister change the stand all of a sudden without any justification, Danam is said to have asked the chief minister in the letter.

Till a proper justification is given to the cabinet and the public, let the decision on VAT given to textile traders be kept in abeyance, Danam said in his letter. And until a decision is forthcoming on his demand, the labour minister has threatened to stay away from government functions including Prajapatham in Hyderabad.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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