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
Latest Expert Exchange
« News Headlines »
 Government extends sale of pre-GST goods with stickers of revised price till July 31
 All 7 ITR forms for assessment year 2018-19 activated for e-filing: Income Tax Department
 Check if new salary structure is income tax efficient
 GST refund drive extended till June 16
 5 income tax returns filing mistakes you must avoid
 Your complete guide to file income tax return
 Input Tax Credit refund drive till June 14
 File Your Income Tax Return for FY 2017-18 Immediately, Know Why
 Which ITR form to file if income is in dollars?
 5 investment lessons to maximize returns; here is all you need to know
 Deadline for filing first instalment of advance tax ends 15 June

VAT and the season: Govt gets the date wrong
September, 29th 2006
Wet is dry for the Maharashtra government. Or, so it seems. The state governments decision to classify wet dates as dry fruits for levying value added tax (VAT) has angered Muslims and Hindus alike. For Muslims, wet dates are an essential element at Iftaars the breaking of the day-long fast during Ramzan. For Hindus, Khajur is one of the few permissible eatables during fasts. The price of wet dates may soon rise, thanks to the state government that sees wet dates as dry fruits. Consequently, import of wet dates will attract a minimum 4% VAT from October 1 as against 0% now. So far, the state government has not made clear the tax wet dates will attract. We presume it will be in the lowest slab of 4%, Jatin Ashar, spokesperson said for the Mumbai Dates Importers Association. The change of classification will affect the prices of wet dates across the country since Mumbai is the port of entry for almost all wet dates consignments, the association said. According to a state government official, over 90% of wet dates imports are recorded in Mumbai. The Mumbai Port Trust has a dedicated slot at Hey Bunder to unload dates cargo. On an average, India imports around 1,50,000 tonnes of wet dates a year from west Asian countries such as Iran, Saudi Arabia, Oman and United Arab Emirates. In the retail market, the commodity is priced between Rs 11 per kg to Rs 18 per kg. The change of classification has taken place in 95 but we never actually levied any tax, a finance ministry official said. Even the central government has acknowledged that wet dates should be considered as fresh fruits and not be clubbed with dry fruits for taxation purpose. But the Maharashtra government is ignoring the Centres decision, the association said. Sources, however, indicate that the state government may defer its decision of levying tax from October 1 by a month considering the popular mood. We may start collecting tax from November 1, an official said.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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