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% :: articles on VAT and GST in India :: due date for vat payment :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: VAT Audit :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
VAT (Value Added Tax) »
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)
 Guidelines relating to downloading of Statutory Forms-Modification thereof
  Grant of Registration under DVAT & CST
 VAT on petroleum products to continue, to be decided by GST Council
 Government rolls out settlement scheme to clear VAT, CST dues
 Maharashtra government offers VAT benefit to realty buyers
 Govt should focus on income tax instead of VAT
 Amendments in the second Schedule received from Finance Deptt.
 VAT exemption stays in tax reform bill

CAG raps Delhi govt for loss in tax collection
September, 12th 2011

Inefficiency, under assessment, irregular claim of tax exemption and other lacunae in revenue collection system of Delhi government may have caused a whopping Rs 3,000 crore loss to the exchequer in 2009-10, according to the CAG. Rapping the government for the shortcomings, the national auditor said the tax collection would improve significantly if these deficiencies are addressed.

"Test checks of records of the departments during local audit conducted during the year 2009-10 revealed under assessment/short payment/loss of revenue aggregating Rs 3,140 crore in 2,696 cases," the CAG said in its report for the year ending March 31, 2010.

The CAG said it found under assessment of VAT to the tune of Rs 2,672 crore while pointing towards several cases of tax evasion and other irregularities.

"We noticed during the test check of the records of 68 units relating to VAT, an underassessment of tax and other irregularities involving Rs 2,672 crore in 2579 cases."

The report said the review on levy and collection of stamp duty and registration fee revealed a "number of system and compliance deficiencies" which had a total revenue implication of Rs 467 crore.

About collection of the stamp duty and registration fees, the auditor said there was no mechanism to ensure that both the fees are levied on all instruments which are due for registration as per provision of the laws.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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