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: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARD :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TDS
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

Will govt cut taxes? Slash that thought, say experts
June, 29th 2009

The state budget for 2009-10 that Gujarat finance minister Vaju Vala will present in the state assembly on Tuesday is unlikely to have much good news insofar as tax cuts are concerned. The common man is hoping that the government would announce a reduction in value added tax (VAT) rates -- at least to pre-2008 levels -- so that goods and services could become less expensive.

In the 2008-09 state budget the government had increased VAT from 4% to 5% on raw materials and from 12.5% to 15% on final products. This had impacted the common man's domestic budget and spending. The previous state budget -- also presented by Vaju Vala as state finance minister -- had also increased professional tax, thereby helping the government mop up an additional Rs120 crore as tax revenue.

The rise in VAT rates had led to an increase in prices of articles such as cars, cellphones, refrigerators, computers, air-conditioners, tea and garments, among other things.

Experts believe that, contrary to most people's expectations, the focus of the 2009-10 state budget would be on maintaining the state's growth rate and not on reducing prices.

"The state government is unlikely to announce cuts in VAT or other taxes in the forthcoming state budget," said Prof Ravindra Dholakia of IIM-A.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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