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: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: form 3cd :: TDS :: list of goods taxed at 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
« VAT (Value Added Tax) »
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill
 Income Tax Appellate Tribunal Bangalore Banches Bangalore 'A' Bench DB Case Causelist for The Week from 22-05-2017 To 25-05-2017
 Amendments in Second schedule appended to Delhi Value Added Tax Act, 2004
 Haryana govt exempts solar devices from VAT net
 Court rules out VAT on Paradise equity transfer
 VAT gone but riddle of derivatives traded on commodity exchanges lives on
 Rule 2(L) Of Cenvat Credit Rules, 2004 Amended
 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

Industry reacts to proposed 0.5% VAT hike
August, 21st 2012

The proposed 0.5 per cent hike in Value Added Tax (VAT) has received a sharp reaction from industry which is already under shock after a power tariff hike, online billing notification and proposal of property and professional taxes. Punjab Finance Minister Parminder Singh Dhindsa said the VAT hike proposal will be discussed in the cabinet meeting on August 28.

Reacting to the proposal, office bearers of the United Cycle and Parts Manufacturers Association (UCPMA) held a meeting on Monday and stated that the VAT hike would be in addition to proposed professional and property tax and service tax which is already been imposed.

Gurmeet Singh Kular, president UCPMA, said that the cycle industry was already in crisis. We purchase raw material on 5.5 per cent VAT and send to other states with 2 per cent CST. Our 3.5 per cent VAT refund are lying at excise and taxation department. If VAT is hiked by 0.5 per cent, our 4 per cent VAT refund will remain with the tax department. The pending VAT refund cases are also a headache, he added.

The president of the Federation of Punjab small scale industries association (FOPSIA) Badish Jindal said, While neighbouring states pay 4.5 per cent VAT we are already paying 5.5 per cent. The industry has requested Punjab to withdraw the proposed VAT hike and not impose the professional or property tax.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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