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: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARDS :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

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 2017 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