Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: empanelment :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
VAT (Value Added Tax) »
  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
 How much do you know about VAT as a taxpayer?

Govt. assures traders VAT cut from 5 to 1%
May, 31st 2016

The Naveen Patnaik government on Monday assured the Odisha Byabasayee Mahasangha (OBM) that it would reduce value added tax from 5 per cent on pulses to 1 per cent on experimental basis.

The decision was taken at a high-level meeting attended by State Finance Minister Pradip Amat and an OBMD team.

The OBM had threatened to go on a strike if their demand of withdrawal of VAT on pulses, wheat and wheat-product was not considered.

The traders’ body, however, did not reveal anything about their next course of action following the assurance. The OBM had in the past stopped import of these products.

General body meeting

“We will discuss the government’s proposal in detail in the organisation’s general body meeting on June 1. The government’s proposal largely satisfies our demand on VAT withdrawal. However, the general body meeting will take a final call,” said OBM general secretary Sudhakar Panda.

More revenue

According to the government, the OBM had submitted a representation for exemption of 5 per cent VAT on dal, pulses and wheat products and levy of 1 per cent entry tax thereon. “The contention of the OBM is that an adult consumes 60 gm of dal per day. Total annual consumption of dal in Odisha is estimated at 7,55,920 MT worth Rs.4,500 crore. On this, 5 per cent VAT comes to Rs.226 crore per annum on dal and pulses but the State government receives Rs.30 crore only.”

“If 1 per cent entry tax is levied instead of 5 per cent VAT, the State government will receive more revenue than VAT,” traders had argued.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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