Latest Expert Exchange Queries

Make 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) | 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: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: cpt :: TDS :: VAT RATES :: form 3cd :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT Audit :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS
 
 
VAT (Value Added Tax) »
 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?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)

Decision to replace octroi with LBT a betrayal, says Fadnavis
April, 25th 2013

Opposition parties seem to have taken up the cause of traders protesting the government decision to replace octroi with local body tax (LBT).

BJP state president Devendra Fadnavis said, "The alternative to octroi was value-added tax (VAT), which has been in existence since April 1, 2005. The government can't justify LBT."

CM Prithviraj Chavan said, "VAT was not an alternative to octroi. The decision to abolish octroi was taken after a consensus on LBT."

Fadnavis dismissed the government claim. "Nothing stopped the government from abolishing octroi when VAT was introduced."

He said, "The Gujarat government abolished octroi. It introduced VAT with 1 per cent increase in surcharge."

Finance department officials said, "When LBT was enforced in six municpal corporations initially, there was no protest."

According to a finance ministry report, the revenue collected from sales tax/ VAT, state excise and taxes on vehicles is Rs 63,338 crore for 2011-12. Sales tax/VAT collection alone is Rs 50,596 crore, the report says.

Opposition parties are attributing the unrest among traders to the Congress-NCP government's failure to simplify the tax regime. They say the decision to bring LBT has exposed its flip-flop.

In 2005, then finance minister Jayant Patil indicated VAT was the beginning of end of taxation woes for traders.

At that time, the government said VAT would put an end to the multiple tax collection system. However, the government did not abolish octroi as there was apprehension of a political backlash. It put the decision on hold till there was a consensus among parties and sanction from municipal bodies.

BMC, with Shiv Sena and BJP at its helm, was opposed to abolition of octroi.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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