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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4%
VAT (Value Added Tax) »
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation
 HC seeks Delhi, centre reply on restaurants charging excess VAT, service tax
 Shakti Autos booked for evading VAT, bogus sales
 VAT sops to IOCL Paradip refinery hits Odisha revenue growth
 Government to announce new VAT rates in October
 World Wide Gst, Vat, Sales Tax Rate
 Article on Transition Process of Registrations under VAT / Service Tax Laws to GST Law

VAT implementation across board
June, 15th 2009

One of the many things in the government's taxation system beyond Bihar that has surprised deputy CM Sushil Kumar Modi during his visit to other states in his role as finance minister is the hard fact: Patna Model' of holding (house) tax is under efficient implementation in several urban centres in the country barring Patna, where it was first conceived and evolved.

Former Patna Municipal Corporation (PMC) administrator Sunil Kumar Singh (IAS) had conceived and structured it in the context of Patna in the 1990s for netting revenue to the urban bodies through holding tax. Mincing no words Modi said, "Everywhere I inquired about their taxation system urban bodies told me that they have adopted the Patna Model. I am sad to say that the same Patna Model in not under efficient imlementation in the place of its origin."

Modi, along with acting chief justice of the Patna High Court Shiv Kirti Singh, jointly released the two volumes of the book Principles of VAT in India' under the aegis of Bihar Industries Association on Sunday. Both Justice Singh and Modi praised Patna High Court lawyer Prakash Sahay for writing the book. "Taxation is a must, and people should pay it happily," Justice Singh said.

Modi said, "S K Singh has won many laurels and even international awards for evolving the system of holding tax. It has been failed in Patna. We will definitely implement it now more efficiently."

Modi said that until PMC and the government had sufficient tax base, it would be difficult to extend benefits to people. "It cannot be chicken-egg story," he said, adding, "We have been doing our best, but increased tax collections would help in giving them desired civic benefits."

Modi appealed to dealers and traders not to protest goods and service tax (GST), which would be operative all over the country from April 1, 2010. He said that GST would introduce a uniform tax regime in the country, and end the numerous taxes charged under the existing "sales tax regime".

He also appealed to trade circles to adopt computerisation since the government has made filing of e-returns of taxes mandatory for those payinmg taxes worth more than Rs 1 crore. "In the next one year, it would be further expanded to cover those who pay taxes worth Rs 10 lakh," he said, adding, "In Maharashtra, filing of e-returns has covered cent per cent traders." Two to three cyber cafes would be identified at every district headquarters to help the traders in filing e-returns.

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 Mission

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