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: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: articles on VAT and GST in India :: cpt :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: form 3cd
 
 
VAT (Value Added Tax) »
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 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?

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 2017 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