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: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: form 3cd :: list of goods taxed at 4%
 
 
VAT (Value Added Tax) »
 15% rise in collectionof VAT for Oct-Nov
 China to simplify tax scheme after switch to VAT
 Cabinet clears key proposals on VAT, regularisation of jobs
 Cases of VAT overcharging flood consumer forum
 State seeks relief from Centre
 Flat rate VAT changes for small businesses explained
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation

Specs traders turn a blind eye to Vat payment
August, 04th 2011

They helped people get a better vision but remained hidden from the eyes of tax sleuths. Now, the commercial tax department has focused its attention on spectacles manufacturers and traders in Gujarat.

For the first time in the last 10 years, value added tax (Vat) evasion Gujarat Commercial Tax officials carried out search operations on 16 spectacle traders and two manufacturers in the state. The searches were carried out from Tuesday evening till late Wednesday evening.

Eight traders in Ahmedabad, four in Surat, and one each in Gandhinagar, Rajkot, Anand and Vadodara were searched. Two manufactures of numbered glasses in Ahmedabad and Anand have also come under the scanner and searches were carried out on their premises.

"The business of numbered glasses and sunglasses has grown tremendously in recent years, but the tax collection figures didn't reflect the growth. The traders have to pay around four per cent vat on specs and accessories and 12.5 per cent on sunglasses. But the department received inputs of tax evasion in the business," said a senior Gujarat commercial tax department official.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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