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: form 3cd :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: Central Excise rule to resale the machines to a new company
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

CM likely to slash VAT, budget in July second week
June, 17th 2013

Karnataka’s high slab of value added tax (VAT) at 14.5 per cent, which is the highest among the Southern states, is likely to be slashed by Chief Minister Siddadramaiah in the upcoming budget.

An official source told Express: “The CM had opposed this high tax slab during budget discussions in February, when he was the opposition leader. He had insisted that it was too high, so he is likely to slash it now.”

Budget preparations for the year 2013-14 is in full swing, and a series of meetings with various departments are set to begin on Monday. According to official sources, Siddaramaiah, who also holds the finance portfolio, will present his budget in the second week of July. “The CM has convened a meeting of senior officials of the Mines and Geology and Revenue department,” a source said.

Senior officials from the Finance Department have already briefed the financial position of the state to Siddaramaiah. He is expected to announce few new schemes, modify or scrap some of those already announced by the previous BJP government.

The new Budget is important, as it is perceived to set an agenda for the next five years for the Congress government. It is also expected to give focus to on the fresh sops announced by the CM immediately after he assumed office and make enough provisions for implementation.

On the day of his swearing-in he had announced loan waiver and subsidies to the tune of over Rs 4,409 crore benefitting over 1.38 crore people. Defending his decision to dole out sops which may cause a huge hole to the state exchequer, he had said that the additional burden would be eased through a slew of measures, including enlarging the tax net, plugging pilferage in the collection of revenue and cutting wasteful expenditure.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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