« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  Foreign NGOs may face fringe benefit tax... ICAI to enforce accounting norms for local bodies... » 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.