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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« VAT (Value Added Tax) »
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I

Biscuit Industry demands 4 % uniform VAT
May, 31st 2008

Hit by soaring input costs, the biscuit industry today urged the government to immediately reduce the Value Added Tax (VAT) to an uniform 4 per cent across the country.

"In the last one year, the prices of essential commodities have increased many times. The industry is getting affected as we have not resorted to price increase so far. As a first measure, the government should immediately implement uniform four per cent VAT for biscuits in the country," Indian Biscuits Manufacturers' Association President B P Agarwal told reporters here.

At present, only Assam charges VAT at four per cent rate, he said, adding that biscuit manufacturers are agitated over the continuance of 12.5 per cent VAT by other states, while other similar products like bread, bhujia, namkeen, jam and juices are either exempted or levied 4 per cent VAT.

"The industry is burdened with steep increase in raw materials like wheat, flour, vegetable oil, milk as well as packaging paper and other ingredients," he said, adding, We have already reduced the sizes of packets by about 10 per cent during past one year, but we cannot go beyond that."

The average profit margin of the biscuit firms were about 5 per cent six months ago. But due to rise in the input costs, it has been decreased to one per cent now, said Agarwal.

The demand from IBMA comes at a time when the Wholesale price index-based inflation rates rose to a 3-year high at 7 per cent for the week ended March 22, on higher prices of food, vegetables, minerals and manufactured items.

The association believes that reduction of VAT to 4 per cent would result in 20 per cent growth in the biscuit industry, which would lead to a very negligible loss of revenue to the states

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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