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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: due date for vat payment
 
 
VAT (Value Added Tax) »
 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?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

VAT on cooking gas waived
July, 04th 2011

Chief Minister Jayalalithaa on Tuesday announced the waiver of four per cent Value Added Tax on liquefied petroleum gas for domestic purpose, bringing down the retail price of an LPG domestic cylinder from Rs. 404.40 to Rs. 389.67.

The relief to the users of the LPG domestic cylinders would be Rs. 14.73 a cylinder.

In a statement, she said the waiver would come into force from July 1. Hereafter, the VAT would not be levied on domestic cylinders.

Reiterating her criticism of the Union government's decision, Ms. Jayalalithaa said subsequent to the move, the State was to have got Rs. 16 crore additionally a year. With the State government's waiver of the levy of VAT, it would stand to lose totally Rs. 120 crore in a year.

Last week, the Union government hiked the retail prices of diesel by Rs. 3 a litre, kerosene by Rs. 2 a litre and LPG domestic cylinders by Rs. 50 a cylinder.

The Chief Minister stated that she not only condemned the decision to hike the prices but also demanded the withdrawal of the increase. The Union government should have examined the various options and ensured that the prices of petroleum products were not increased. Instead, its act of providing advice to States to reduce VAT was not acceptable.

Frustration

The decision of increasing the price of LPG domestic cylinders by Rs. 50 a cylinder had left women in a state of frustration. What was once used by affluent sections of society was now used increasingly by people of the lower income group.

Ms. Jayalalithaa said that as a result of maladministration of the previous Dravida Munnetra Kazhagam regime, every department of the State government was facing a huge loss. At such a juncture, as there was no indication of the Union government's withdrawal of the hike in the petroleum prices, the State government decided to provide relief to the people of the State.

The Chief Minister earlier held a meeting with Ministers and senior government officials to discuss the issue of VAT waiver.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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