Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: cpt :: VAT Audit :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT RATES
News Headlines »
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide

New tax regime to bring in Rs 900 for govt
June, 02nd 2009

In contrast to dipping inflation rates, prices of lot of items in the state have gone up from June 1.

In its decision (notification no 796) taken by the state government on May 27, about 200 items will see an extra tax ranging from half to 1% being imposed on them. Officials hope that this tax will see the state exchequer getting richer by Rs 900 crore.

According to state tax department, all the items listed under notification-2 which currently have 4% Value Added Tax (VAT) on them. The government has decided to impose half per cent tax on them. Similarly, all the items listed under notification-5 which currently have 12.5 per cent VAT will see an extra one per cent tax being levied on them.

On the other hand, the government has removed two to five per cent entry tax on several items like refrigerators, ACs, laptops, all types of cables, marble stones, clinkers, all types of wooden timbers and all the machinery in the range above Rs 10 lakh. Apart from that, products like wheat, rice, steel, coal and pulses remain free from the new tax regime. The law says these are essential goods and tax cannot be higher than four per cent on them.

Traders in the city have protested the move and they say that such acts are against the benefits of the general masses.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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