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: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: list of goods taxed at 4% :: VAT RATES :: TDS :: cpt :: ACCOUNTING STANDARDS :: due date for vat payment :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
VAT (Value Added Tax) »
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?

AP govt justifies hike in value-added tax
September, 30th 2011

The state government has justified the hike in the floor rate of value added tax (VAT) from 4 per cent to 5 per cent. It said the hike was made on the advise of the Centre and to avoid a loss of Rs 2,000 crore annually to the state exchequer.

According to an official communique on Monday, the Centre has been compensating the states for the loss of revenue on account of reduction in the rate of Central Sales Tax (CST) from 4 per cent to 2 per cent. However, in order to reduce its burden, the Union government has been advising the states to raise the floor rate of VAT from 4 to 5 per cent.

Following this, 11 states including Tamil Nadu, Karnataka, Maharashtra, Gujarat, Orissa, Madhya Pradesh, Uttar Pradesh, Rajasthan and Karnataka have raised the rates from 4 to 5 per cent.  Andhra Pradesh, however, did not increase the floor rate.

Recently, the Centre had informed the state government that the compensation payable towards reduction in CST would be reduced by the amount of revenue that could be gained by raising VAT from 4 to 5 per cent, even if the state had not raised this rate.

During 2010-11, the deduction made by the Centre on this account had been Rs 1,089 crore

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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