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 :: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: 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

Maharashtra mulling over scrapping of LBT, may offset with VAT hike
May, 14th 2014

With an eye on Assembly elections scheduled later this year, Maharashtra government is mulling over scrapping of controversial Local Body Tax (LBT) which is in force except Mumbai and is being stridently opposed by the traders.

The government may increase Value Added Tax (VAT) to compensate the withdrawal of LBT, sources said.

LBT was being introduced in Maharashtra in a phased manner from 2010 beginning with tier-III cities by scrapping octroi (local tax collected on various articles brought into a district for consumption). In 2013, the LBT was also applied to tier-II and tier-I cities except the state Capital.

However, the move triggered protests from traders across the state who feared that the new tax regime will add to harassment by officials and saddle them with the "cumbersome" process of maintaining account.

The traders were also of the view that LBT is a financial burden as VAT was still under implementation.

There were suggestions to increase VAT instead of LBT but some quarters feel that money collected by state government through VAT would have to be transferred to civic bodies in form of grant, which would hamper the financial autonomy of civic bodies.

According to sources, a proposal is likely to be formulated soon regarding scrapping of LBT.

Apart from LBT, government is of the view that programmes like the Food Security Act, Rajiv Gandhi Jeevandayi Scheme need to be implemented effectively in coming months and benefits reaching the common man need to be monitored, sources said.

 
 
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