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 INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT RATES :: VAT Audit :: cpt :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: due date for vat payment
 
 
VAT (Value Added Tax) »
 VAT exemption stays in tax reform bill
 Income Tax Appellate Tribunal Bangalore Banches Bangalore 'A' Bench DB Case Causelist for The Week from 22-05-2017 To 25-05-2017
 Amendments in Second schedule appended to Delhi Value Added Tax Act, 2004
 Haryana govt exempts solar devices from VAT net
 Court rules out VAT on Paradise equity transfer
 VAT gone but riddle of derivatives traded on commodity exchanges lives on
 Rule 2(L) Of Cenvat Credit Rules, 2004 Amended
 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

Government scraps VAT on textiles
April, 30th 2013

The State government decided to withdraw the one per cent Value Added Tax on textiles, giving relief to traders who are on agitational mode since a couple of months.

Over one lakh textile traders had been demanding that the government withdraw the tax till a uniform tax regime is put in place in the country. They lamented that Andhra Pradesh was the only State to implement tax on textiles besides including it under the sensitive commodities category.

The government had constituted a Cabinet sub-committee, under the chairmanship of Finance Minister Anam Ramanaryan Reddy, to study the issue since traders threatened to observe indefinite bandh. The Cabinet panel, which met here on Sunday, favoured scrapping of the VAT and recommended the same to Chief Minister N. Kiran Kumar Reddy in the evening.

Announcing the lifting of VAT amid cheer from representatives of the textile federation, the Chief Minister asserted that his government had no intention of putting traders to inconvenience. But, the government had to take some decisions after he took over the reins to put the difficult financial situation back on the rails.

Rs. 9,000 crore dues

The government was faced with dues of close to Rs. 9,000 crore and hence, decisions like levy of VAT on textiles. The issue was, however, referred to the Cabinet sub-committee in view of the representations made by the trade bodies and a decision to lift the VAT was taken after considering various aspects including the systems in place in other States.

Mr. Kiran Reddy explained the delegation about the welfare measures launched in the State and the government’s commitment to introduce new schemes to cover all the needy.

In the process, the administration had been made transparent.

Mr. Ramanarayan Reddy, his Cabinet colleagues T.G. Venkatesh and G. Prasad Kumar senior officials were present.

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

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