Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: form 3cd :: VAT Audit :: due date for vat payment :: TDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
VAT (Value Added Tax) »
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?

Govt makes foodgrains free of VAT
July, 05th 2011

While criticizing the UPA government at the Centre for inflation and spiraling prices of essential commodities, the NDA government claimed it is doing its best to provide some succour to the people. After reducing VAT on diesel, it has notified to make foodgrains free of VAT.

Deputy CM Sushil Kumar Modi said that the VAT on foodgrains like rice, wheat, pulse and flour has been fully withdrawn. "When our government came to power in 2005, the VAT on these commodities was four percent which we reduced it to one percent in 2006. Now in view of the escalating prices of essential commodities, we have decided to do away with VAT on them," he said. He added that with this relaxation, about 5,000 small and medium traders dealing in foodgrains whose annual turnover is up to Rs 100 crore will be benefited.

Meanwhile, the food and consumer protection department has suggested that the Centre provide cash instead of foodgrains to the ration card holders under the proposed National Food Security Act (NFSA). Food and consumer protection minister Shyam Rajak said that this suggestion has been sent to the Centre in response to the state's opinion sought on the NFSA. The Centre is working on a draft Bill that will be placed before the Empowered Group of Ministers on food. It aims to provide legal right over highly subsidized foodgrains to 68 percent of the country's population.

Rajak said that due to problem in storing the foodgrains in the godowns of the Food Corporation of India in Bihar, the arrival of the stock for public distribution is delayed for two to three months. "This has resulted in diversion of foodgrains," he added.

Chief minister Nitish Kumar is a strong advocate for cash incentive to check anomalies and corruption in public distribution system (PDS). Nitish also pleaded it before the Planning Commission and said such schemes introduced in Bihar are bearing good result. He gave the example of bicycle and uniform to school going girls who are given money to purchase them.

Rajak said that Bihar is not alone in making such a demand. Delhi and Andhra Pradesh governments too have made similar suggestions to the Centre. "We have proposed that cash be provided in the name of woman of the household," he said and added that it has been suggested that a bank account be opened in the name of woman of the beneficiary family and transfer cash in her account. The food and consumer protection minister said that his government has been repeatedly taking up with the Centre the issue of updating the number of beneficiaries under the public distribution system.

"The Centre is providing foodgrains for only 65 lakh people of the state under different schemes whereas the state's figure of beneficiaries is around 1.5 crore," Rajak said and added that due to this discrepancy, the state government is providing foodgrains on its own to around 85 lakh left out families.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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