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: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: form 3cd :: VAT Audit :: ACCOUNTING STANDARD :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment
 
 
VAT (Value Added Tax) »
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi

VAT dilemma for traders
May, 22nd 2009

In the absence of any state notification on value-added tax (VAT) on foodgrain, traders are finding themselves in a spot.

The East Singhbhum district sales tax department has announced that it will press traders for filing returns. On the other hand, traders are hopeful that a new notification may waive tax provisions completely on foodgrain.

Officials of the district sales tax department said that today was the last date for filing sales tax returns for the month of April, from when the four per cent VAT on foodgrain items became effective.

Today is the last date for filing the tax returns for last month. From tomorrow, we will try to find out how many traders have paid taxes according to the new provision. In the next four to five days, we will press traders to pay value-added tax on foodgrain, according to the new rules, said Kartik Charan Jha, the joint commissioner of East Singhbhum district sales tax.

The VAT on foodgrain came to force as the state had failed to come out with a notification before March 31 for waiving the provision.

The East Singhbhum district sales tax department claims that the value-added tax on foodgrain would add around Rs 3 crore to its revenue this fiscal.

Meanwhile, city based traders said that the Arjun Munda government first implemented value-added tax on foodgrain and vegetables in 2006. But it was rolled back after protests from trade associations across the state.

They claimed that few traders were paying taxes according to the new provision, while few were still waiting for new notification from the state.

Officials of Singhbhum Chamber of Commerce and Industry (SCCI) said that the state had already given signals of coming out with a new notification that would waive the tax provisions on foodgrain items.

The governor has assured us that they will come out with a fresh notification of rolling back this tax. Few of the traders have not paid their taxes and are waiting for the new notification expected in the first week of June, said Suresh Sonthalia, the vice-president (PRW), Singhbhum Chamber of Commerce and Industry.

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

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