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: form 3cd :: empanelment :: list of goods taxed at 4% :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: cpt :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
VAT (Value Added Tax) »
 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)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

Goa to scrap registration of traders regularly evading VAT
April, 27th 2013

Goa government has decided to cancel registration of those traders frequently evading Value Added Tax (VAT) to plug revenue loses to the state exchequer.

The state Chief Minister Manohar Parrikar told reporters today that the commercial tax department will commission its officials to send as decoy customers to visit shops.

"If shops are found not offering bills resulting in the evasion of VAT payment, they will be fined Rs 1000," he said.

It was also decided that if a trader is fined ten times in a year, his registration would stand cancelled forever, Parrikar said.

The state cabinet today amended Goa Value Added Tax Act, 2005, providing teeth to the government to act against such violators.

Parrikar said that the enforcement of the amendments to the act would result in additional revenue mobilization of Rs 150 crore in the form of VAT for the state government.

The amendments, which were approved by state cabinet today would be placed before the House during the ongoing State Legislative Assembly session, next week.

The cabinet also approved scaling down VAT on industrial input from 12.5 per cent to five per cent for providing relief to industrialists, he said.

Parrikar reasoned that VAT on industrial input is refunded to industries after three years.

"But by the time it is refunded, the money is blocked with the government, inconveniencing industrialists. With VAT being decreased to five per cent, industries will not be forced to face hardship," he said.

The amendment in VAT act has given rights to the Commissioner of Commercial Taxes to identify industrial inputs to each industry and provide a lowered VAT rate, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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