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

Bihar legislative council passes state VAT (Amendment) bill
August, 06th 2016

Bihar Legislative Council today passed six legislations including the Bihar Value Added Tax (VAT) (Amendment) Bill, 2016 which seeks to propose an increase of .50 per cent to one per cent to the existing VAT rate. The Bill proposed to mop up an additional Rs 1,200 crore in the current fiscal.

The Bihar VAT (Amendment) Bill, 2016 proposes to increase one per cent of VAT rate from five per cent on various goods, while there would be a .50 per cent increase of goods not covered under the Bihar VAT Act, 2005 at 15 per cent from 14.5 per cent earlier. Defending the tax hike proposal, Commercial Taxes minister Bijendra Prasad Yadav said the hike would not affect the common people as items consumed and utilised by them have been left untouched.

Stating that the government may be able to mop up Rs 1,200 crore from the hike, Yadav said the government needs money to fund its various scheme of the ambitious ‘Seven Resolves’ and hence a very little hike has been proposed. Refuting Leader of Opposition Sushil Kumar Modi’s claim that there was a shortfall of 35 per cent in revenue collection in the first quarter of the current fiscal, the minister said it was not unusual as it has been witnessed that both revenue collection and expenditure were low in the first quarter.

It has been witnessed that tax collections do not increase with the increase in tax rate, Sushil said adding there was an increase of 20 per cent every year in revenue collection when the NDA was in power and when it reduced taxes on more than 150 goods and items. The Legislative Council also passed the Bihar State University (Amendment) Bill, 2016 proposing to set up two universities, one each at Patna and Purnea, by carving out some colleges from Magadh University, Bodh Gaya and B N Mandal University at Madhepura.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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