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: cpt :: articles on VAT and GST in India :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4%
 
 
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

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