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: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« Sales Tax »
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller
 Service tax levy to weigh on upstream companies’ earnings
 5 pc tax on online sales awaits Cabinet approval
 Amendment to Additional Sales Tax Act unconstitutional: High Court
 Maharashtra will soon achieve Rs one lakh cr sales tax : CM Devendra Fadnavis
 CBEC chief bats for minimal exemptions for India Inc under GST
 Issuance of Free Sale & Commerce Certificate to Merchant Exporters
 Why model GST law does not give confidence to exporting community
 State governments tighten their grip on sales tax holidays
 Income tax dept charts plan to broaden national taxpayer base

Odisha seeks Centre's nod to re-introduce Central Sales Tax
July, 22nd 2014

Odisha government today said it had sought permission from the Centre to re-introduce Central Sales Tax at the rate of 4 per cent as the state was denied the adequate compensation for reducing the CST to 2 per cent since 2008.

"Odisha's Chief Minister has drawn attention of Prime Minister and Union Finance Minister regarding the pending compensation amount. If they do not pay the compensation, the Centre should allow the state to reitroduce CST at 4 per cent," state's Finance Minister Pradip Kumar Amat said while replying a question in the Assembly here.

Stating that the rate of CST was first reduced to 3 per cent from 4 per cent on April, 1, 2007, the finance minister said that the state was again told to further reduce the CST rate to 2 per cent on May 1, 2008.

In the process, Amat said while the state was expecting a compensation of Rs 3,843.03 crore as compensation from the 2007-08 to 2012-13 fiscal, it got only Rs 1,303.08 crore.

"We have demanded payment of rest compensation amount of Rs 2,539.95 crore," he said.

However, the finance minister said Centre was yet to respond to the state'e request.

Replying a question by BJD member Prafulla Samal, the finance minister said the state is facing difficulties in implementing different schemes and often fund from its own resources as the Centre does not give matching share at proper time.

Citing an instance, the finance minister said while the state government earmarked Rs 1,088.62 crore under Accelerated Irrigation Benefit Programme (AIBP) in 2012-13, it could get only Rs 38 crore from the Centre. Similarly, the centre gave only Rs 15.23 crore against the state's AIBP budget of Rs 967.57 crore, Amat said.

He said the state was also not getting its dues under centrally sponsored schemes. For instance, Amat pointed out that while the Centre's share under MGNREGA for the year 2013-14 was Rs 1363.50 crore, it sanctioned only Rs 757.52 crore in the previous fiscal.

Odisha's finance minister said that the state would again request the Centre to release funds under central schemes, centrally sponsored scheme and other schemes.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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