Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: articles on VAT and GST in India :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
VAT (Value Added Tax) »
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

Odisha traders want waiver of VAT on pulses, wheat products
August, 11th 2014

Traders in the state have threatened to go on stir if the state government fails to withdraw five per cent VAT (value added tax) on sales of pulses, wheat and wheat products by August end.

"Odisha being a consuming state, VAT on flour, suji, maida and pulses should not be levied. The levy is not there in 23 states of the country," Sudhakar Panda, secretary of the Odisha Traders' Association told media persons on the side line of launching of fortified wheat flour by Shree Jagannath Flour Mills and Subhalaxmi Industries in association with Global Alliance for Improved Nutrition (GAIN) and Roller Flour Millers Federation of India (RFMFI).

Consumption of pulses in the state stood at about nine lakh tonnes with a business turnover of about Rs 4,500 crore. Odisha manages to produce only 10 per cent of the total demand.

State government collects about Rs 30 crore VAT on pulses against the target of Rs 225 crore due to unfair business practices adopted by the traders, he added.

Traders said, five per cent VAT is making the price of food items less competitive compared to their counterparts in other states resulting in rise of unfair practices to avoid the levy. In pulses alone the price difference comes to about Rs 300 per quintal.

Instead of VAT, the state government can levy one per cent entry tax, which would earn it about Rs 50 crore per annum, Panda said.

"The association has taken up the matter with the government many times. If no corrective measure is taken by the government by August end, we will take a final call on the issue. We may even go for strike," he warned.

Flour mills generally depend on Bihar and West Bengal for procurement of wheat. Due to non- viability, only 20 mills out of 50 mills in the state are in operation, said a miller. State consumes about three lakh tonne of wheat and wheat products.

With the imposition of one per cent of entry tax and removal of VAT, the state can earn more revenues as the neigbouring states are relying on Andhra Pradesh and West Bengal ports for import of pulses, traders said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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