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

Andhra Pradesh to waive VAT on LPG
August, 10th 2013

In a relief to domestic LPG consumers covered under Direct Benefit Transfer (DBT) scheme, the state government is all set waive the 4.5 per cent Value Added Tax on the purchase of cylinders soon.

The department of civil supplies has sent this proposal to Chief Minister N. Kiran Kumar Reddy, who is expected to approve it shortly. However, orders to this effect are expected to be issued only after the conclusion of the panchayat raj polls to avoid violating the election code of conduct.

This is how the government plans to compensate consumers for withdrawing its subsidy component of Rs 25 on each cylinder ever since the DBT scheme was rolled out on June 1 in the five districts of Hyderabad, Ranga Reddy, East Godavari, Chittoor and Anantapur. It will be extended to all districts from September 1, 2013.

At present, LPG consumers are paying Rs 49.50 extra on each cylinder (Rs 25 state government subsidy component + Rs 24.50 VAT).

The market price of the cylinder is 916. Oil Marketing Companies are crediting the subsidy amount of Rs 454 into the customer’s bank accounts. But consumers bear the differential amount of Rs 462, which is Rs 49.50 more than what they paid before DBT, when they used to get cylinders for Rs 412.50.

The state government has been paying the subsidy amount of Rs 25 to the OMCs since January 2010 on each domestic cylinder. However, the subsidy has been stalled with the introduction of DBT since the OMCs credit the uniform subsidy nationally and there is no provision to credit variable amounts to different states.

This has made a cylinder more expensive for DBT beneficiaries in the state. “If we waive VAT, it will result in reduction of cylinder price by Rs 25, equal to what the state government has been subsidising since 2010. We have already submitted the proposal to the government and the issue is pending with the CM. A decision on this is expected shortly,” said D. Sridhar Babu, the minister for civil supplies.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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