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: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: cpt :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 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

Government decision slashing VAT on petrol yet to come into effect
June, 14th 2012

Over a fortnight after making an announcement to slash VAT on hiked component of petrol, Delhi government is yet to implement the decision which will bring down the price of the fuel by 92 paisa per litre.

When asked, a top official said government has not been able to effect the cut in VAT due to "procedural delays".

Chief Minister Sheila Dikshit, while presenting the budget in the assembly on May 28, had announced withdrawing the 20 per cent VAT on increased component of petrol to provide some relief to people battered by high inflation.

Price of petrol would come down to Rs 70.24 from current Rs 71.16 per litre when the government effects the cut in VAT on the hiked component.

The relief on account of withdrawal of VAT on hiked component of Rs 6.28 was calculated at Rs 1.26 but as Oil companies slashed prices by Rs 1.68 on June 2, the reduction in VAT on per litre of petrol was revised at 92 paisa per litre.

The price of petrol had come down to Rs 71.16 per litre from Rs 73.18 following the partial rollback.

The Delhi budget in which Dikshit had made the proposal to forego the VAT on hiked component was passed by the assembly on June 4 but officials said the notification effecting the relief could not be issued yet due to procedural reasons.

They said the opinion of the law department has been sought for "clarification" on certain issues relating to the matter

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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