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: Central Excise rule to resale the machines to a new company :: form 3cd :: empanelment :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4% :: due date for vat payment :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD
 
 
« 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

Govt mulls VAT on sale of school kit on campus
May, 13th 2015

School bags, shoes, ties, uniforms, stationary, etc., sold on campuses, are likely to cost more as the state government plans to impose Value Added Tax (VAT) on sale of these items from the next academic year.

Following complaints to the commercial taxes department that some vendors are evading taxes while selling these items on campuses, the state government has decided to impose VAT on such sale.

"During a survey, it was found that many vendors were not paying VAT on sale of school kit on campuses. To figure out if the practice is followed in other schools as well, we have called for a meeting with the school managements," said Revathi Rohini, additional commissioner (enforcement).

As per schedule V of commercial taxes, school items fall under goods taxable at a standard rate of 14.5%. If taxes are imposed on items sold in schools, the burden will directly fall on parents. "Since the vendor already pays VAT for sale of these items on campus, why should we pay again from our pockets. If the government asks us to pay VAT from our pockets for the vendor's ignorance, we would be forced to put the burden on parents by hiking prices," said Sreenivas Reddy, president of Telangana Recognised School Management Association. .

A lot of state-run schools have set-up stalls to sell basic items. "The vendors are supposed to pay VAT on these items. If they don't pay the tax, school managements will have to bear the taxes," Rohini said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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