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% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: form 3cd :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: cpt :: VAT RATES
 
 
« News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

Classify ethanol as a declared good
September, 27th 2007
Move will restrict States power to impose levies: NFCSF

National Federation of Cooperative Sugar Factories Ltd (NFCSF) has sought the classification of ethanol as a declared good under Section 14 of the Central Sales Tax, 1956.

Addressing the 48th annual general meeting of the NFCSF here on Wednesday, the Federations President, Mr Jayantilal B. Patel, said that granting declared good status to ethanol was necessary in order to restrict the powers of State Governments to impose levies on the product.

Currently, apart from varying rates of sales tax, the States charge a host of other levies, including import and export fees on ethanol entering or leaving their territory. In the event of being made a declared good, the States will not be allowed to tax ethanol at more than three per cent.

This, in turn, is expected to provide a fillip to the gasohol programme, which proposes to increase the proportion of ethanol blending in petrol from the existing five per cent to 10 per cent from October 2008.

The Union Food and Agriculture Minister, Mr Sharad Pawar, has, in fact, called a meeting of State Finance and Agriculture Ministers on October 3 to evolve a consensus on making ethanol a declared good and a good of special importance in inter-State trade and commerce.

Mr Patel also demanded an end to the obligation of sugar factories to supply 10 per cent of their production as levy for the public distribution system.

The reason for this, he said, was that whenever prices of free sale sugar dipped below that of levy sugar (as was the case now), the State Governments did not lift their quota.

As a result, the levy sugar kept accumulating in the godowns, with the carrying cost being borne by the factories.

The solution, then, would be to free factories from the levy obligation altogether. The Government could, instead, purchase sugar from the mills at a negotiated price to meet the requirements of the below poverty line population.

Mr Patel further called for the build up of a strategic sugar reserve by the Centre as has been done in China.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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