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

Haryana government revises goods tax rates in state
July, 01st 2015

Haryana government today approved an amendment in the Punjab Passenger and Goods Taxation Rules, 1952, to revise the rates of goods tax on commercial vehicles.

The rates of goods tax on commercial vehicles have now been rationalised and revised in order to keep up with the passage of time and the rates in the neighbouring states, said an official release.

This will also bring in additional tax revenue to the state, to the extent of about Rs 170 crore per annum, it said.

As per proposed tax slabs, goods tax will be exempted for slab of up to 1.2 tonne while Rs 6,000 will be charged for slab between 1.2 tonne till 6 tonne.

For slab between 6 tonne till 16.2 tonne tax will be Rs 7200 and for slab between 16.2 tonne and up to 25 tonne, the tax will be Rs 12,000 per annum

For slab exceeding 25 tonne, the goods tax will be Rs 18,000. The Cabinet which met under the chairmanship of Chief Minister Manohar Lal Khattar also approved the amendment in Rule 25 of the HVAT Rules, 2003 provides for deductions to be made from the gross turnover of a dealer on the basis of an objection of the Punjab & Haryana High Court.

The amendment in Rule 25 of the HVAT Rules, 2003 has been approved to streamline and clarify the provisions for allowing deductions of value of land from the gross turnover of a works contractor.

The amendment in Rule shall come into force with effect from May 17,2010, the day the existing Rule was inserted in the HVAT Rules, 2003. This amendment will facilitate the tax authorities in deciding the pending cases of assessment, re-assessment and revision relating to builders/works contractors/developers in accordance with law, it said.

The Cabinet also approved the amendment in Schedule E appended to the Haryana Value Added Tax Act, 2003 to restrict the input tax to the extent of the amount of tax actually paid in the course of inter-state trade and commerce and to the extent of output tax liability when goods are sold at a lower price than the purchase price.

As per the amendment, a VAT dealer may claim Input Tax Credit (ITC) of the amount of tax paid by the purchasing dealer to the selling dealer, and may further claim refund of the input tax if the input tax exceeds the output tax liability, it said.

A VAT dealer conducting inter-state sales may claim refund of input tax on account of difference in the rate of tax on purchase of goods and rate of tax on sale of goods in the course of inter-state trade and commerce.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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