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: VAT Audit :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: empanelment :: articles on VAT and GST in India :: VAT RATES :: cpt :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Hopeful of meeting direct tax collection target for this financial year: CBDT
 Bengaluru tops in income tax probes after demonetisation
 Income Tax department rejects black money disclosures of over Rs 2 lakh crore
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30

Tax related sops on ATF affects earnings to tune of Rs 240 crore
May, 04th 2012

Tamil Nadu government today said that provisions for certain tax-related sops on Aviation Turbine Fuel (ATF) had affected the state's tax earnings to the tune of around Rs 240 crore per year.

One such beneficiary was the Marans-owned Spicejet, Commercial Taxes Minister C Ve Shanmugam told the Tamil Nadu Assembly.

Replying to the grants for his department for the year 2012-13, he said that as part of the AIADMK government's efforts to mop up taxes,the cash-rich cricketing extravaganza, Indian Premier League ( IPL) and the Direct to Home (DTH) services have also been brought under the taxation ambit.

The multi-million Rupee Sun Group conglomerate is also a major player in the DTH sector with its Sun DTH services.

As regards the ATF, Shanmugam said certain sops on ATF had affected the state's tax prospects.

"The government is suffering a loss of around Rs 240 crore per year and one of the beneficiaries of this scheme is Spicejet," he said.

Earlier, the Minister moved a bill to further amend the Tamil Nadu Value Added Tax Act, 2006, seeking to make 'entry' regarding ATF and tax on declared goods in consonance with Central provisions under the Central Sales Tax.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

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