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: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

No tax or rate change in budget
June, 23rd 2009

The Delhi government, in its annual budget for 2009-10, effected only two tax changes and left utility user fees untouched for citizens of the national capital.

With Delhi hosting the Commonwealth Games in 2010 and the tourism sector showing a decline, the ruling Congress government reduced luxury tax on hotels by 2.5 percentage points, to 10 per cent. However value added tax (VAT) on tobacco and gutkha were increased to 20 per cent from the current level of 12.5 per cent.

The fiscal impact of these two changes was not provided. We support the action plan of the central government for stimulus to the economy. Keeping the current status of the economy, I am not making any major taxation proposals, said A K Walia, finance minister.

Even as tax collections during the last fiscal (2008-09) were lower than initial budget estimates because of the economic slowdown, this budget expects tax revenue to grow by 8.5 per cent in 2009-10. More important, the revenue surplus is projected to increase by nearly 50 per cent in the current fiscal as compared to the revised estimates of 2008-09

This is mainly on account of a 58 per cent projected increase in non-tax revenue to Rs 5,513 crore in 2009-10, as compared to Rs 3,492 crore in 2008-09. However, the desegregated numbers on non-tax revenue show a much lower amount of Rs 2,570 crore in 2009-10.

Achieving 9 per cent growth in revenue receipts is likely to be difficult, with only VAT and state excise showing positive growth in 2008-09. The impact of economic slowdown is noticeable more on stamps and registration fees, motor vehicles tax and luxury tax, which have registered negative growth in the year, Walia said.

On expenditure, the budget for 2009-10 retained the interim budget estimates. Total spending is estimated at Rs 23,043 crore, with plan expenditure of Rs 10,000 crore and non-plan component of Rs 12,932 crore.

About 70 per cent of the total expenditure will be met through the Delhi governments own revenue receipts, with central grants contributing 11 per cent and its share in central taxes at 2 per cent.

Of the revenue receipts, 62 per cent comes from VAT collections, 9 per cent from state excise and 7 per cent from stamp duty & registration fee.

With annual plan outlay of Rs 10,000 crore, the Delhi government will spend 31 per cent of this on transport.

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 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