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: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT Audit :: TDS :: empanelment :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: VAT RATES :: cpt
« General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

Goods and services tax put off
June, 13th 2009

The targeted date of April 1, 2010 to implement the system of goods and services tax is premature and hurried, especially since the system of value added tax had not yet stabilised, Finance Minister of Tamil Nadu K. Anbazhagan said on Thursday.

Speaking at a meeting of State Finance Ministers in New Delhi, he said the proposed GST should in no way erode the States fiscal autonomy. Also, the roadmap towards GST must be carefully chalked out based on consensus and not compulsion.

Mr. Anbazhagan said the Centre should work out fair and revenue-neutral rates for States. Tamil Nadu was yet to receive the full payment of the truncated VAT related compensation amounting to Rs.4,055.25 crore. Acts like this will not inspire confidence among the States regarding a fair GST regime, he said.

Tamil Nadu was in the process of constructing around 1.35 lakh rural houses by utilising the increased allocation under the Indira Awas Yojana (IAY). He requested the Centre to increase the unit cost of a house to Rs.50,000 from Rs.35,000 and make separate allocation to carry out essential repairs in IAY houses that are more than 15 years old.

Support price

Mr. Anbazhagan urged the Centre to increase the minimum support price for paddy to Rs.1,080 a quintal, bringing it on a par with wheat, and increase the interest subvention on crop loans to 5 per cent.

A health insurance scheme was launched by the State government to give coverage of up to Rs.1 lakh to all poor families. Given the social impact of the scheme and the fact that this is the only revenue which would not have accrued had the State not launched the scheme, I urge the Union government to exempt this scheme from service tax, he said.

The State government had brought landless agricultural labourers and unorganised labourers in several occupations under welfare boards, and welfare schemes including social security pensions. In accordance with the stated policy, the Centre should bear at least 50 per cent of the cost of the welfare programmes, he said.

The State government has requested the Centre to reduce the import duty of Low Sulphur Heavy Stock on the lines of naphtha at least for a period of three years so that it could purchase power at an economical cost and tide over the difficult power situation.

On the recession-hit textile industry in Tirupur, he said the State had conceived a Rs.800-crore marine discharge project to mitigate pollution-related issues. The Centre should come forward to bear 60 per cent of the cost, he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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