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

Withdraw VAT on wheat products, urge millers
August, 22nd 2015

A value-added tax (VAT) being imposed on wheat products in Telangana is causing concern to the millers as they fear that the levy, which has already dented their competitiveness, might force them to shut shop as well.

One of the few States where wheat products – Atta, maida, and sooji/rava – attract VAT, the impact of the levy is evident in the substantial exports coming in from Maharashtra and Karnataka, according to Telangana Roller Flour Mills Association leaders.

With the two States not levying VAT, the wheat products, which serve as raw material for a host of items, including biscuits and noodles, the 30 mills in Telangana are operating below their capacity.

A chunk of the State’s annual requirement of 2 million tonnes of wheat products is coming from across its borders.

The story of the six mills in Andhra Pradesh, the president Dundoo Vinod Kumar and vice president Jitender Gupta said, is no different as that State also levied VAT on the products.

Stating that there has been no response to an appeal made the Telangana government last August, they said wheat products are poor man’s food. The revenue accruing from the levy to the State is also not substantial, Mr.Gupta said.

The Association leaders were speaking on the sidelines of a milling conference here on Thursday.

If the demand fall, the millers, Mr. Kumar said, would have to close shop.

This, Mr. Gupta added, would affect about 15,000 persons dependent on them for a livelihood.

At another level, the millers are also worried about the impact the proposed Goods and Services Tax would have on the consumer price of the products. Under the GST, the wheat products are proposed to attract a tax, which the Centre should refrain from doing so.

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

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