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: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT Audit :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: list of goods taxed at 4%
 
 
« News Headlines »
 How many times one can revise tax returns?
 Income tax exemption for FY19
 How will the new provisions really work?
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax

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 2018 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