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: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT Audit :: TDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

Got PAN? Pay Rs 180 more for LPG
September, 07th 2007
PAN card holders (income-tax payers) may be in for a shock if this proposal manages to pass the political muster. Consumers of cooking gas, liquefied petroleum gas (LPG), may have to fork out more.

The government plans to withdraw subsidies for taxpayers, which will hike cooking gas prices to almost Rs 480 a cylinder. The Cabinet is expected to discuss shortly a proposal to make all taxpayers holding PAN cards pay an extra Rs 180 per cylinder.

It is proposed that LPG would now be sold through a smart card bearing PAN. PAN will be made an essential part of the proposed LPG smart card so that, in future, income-tax payers could pay the actual cost of LPG, an official said.

The proposal has been raised at a committee of secretaries (CoS) constituted for implementing the recommendations of the expert committee on integrated energy policy. The CoS is headed by the cabinet secretary. However, changes in retail prices of fuel, particularly cooking fuel, have always been a politically-sensitive issue, since it impacts the vote bank. LPG prices were last raised in April 2005.

The move is aimed at reducing the governments subsidy burden, an official said. Currently, the price of an LPG cylinder is subsidised by both the government (Rs 22.50/cylinder) and public sector oil marketing companies (Rs 190/cylinder). Consequently, consumers have a cushion of around Rs 212.50 per cylinder.

The subsidy for cooking fuel is uniformly enjoyed by all consumers irrespective of their economic status. The government has been working on strategies to limit subsidies only for targetted consumers like families below the poverty line.

PSU oil companies like IOC, HPCL and BPCL are incurring major losses due to the heavy subsidy burden on LPG and kerosene. In 2004-05, total under-recoveries by these PSUs on sale of domestic LPG was about Rs 17,842 crore, which jumped to Rs 28,584 crore in 2006-07.

According to a source, the petroleum ministry has informed the secretaries panel that a pilot project for introducing smart card for all LPG users is under implementation.

As per the expert committee report, a system of debit cards or smart cards may be introduced, whereby the targeted households get a credit of different amounts of cash for the purchase of these entitlements. The available credit on the debit/smart card can only be used for purchasing these entitlements. Card readers operated on battery and feeding data using mobile technology can work in rural areas of the country too.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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