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: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: list of goods taxed at 4% :: VAT RATES :: empanelment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4%
 
 
VAT (Value Added Tax) »
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading
 Delhi budget unlikely to have any new tax proposals this year
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi

Textile traders may resume VAT protest
September, 01st 2012

Textile traders may restart their agitation against the government as the latter has reportedly not worked towards fulfilling its promise to abolish Value Added Tax. Traders allege that commercial tax officials are seizing their goods and serving notices demanding tax payment as per VAT stipulations when a government order scrapping 5% tax is due.

The state government had in July 2011 imposed VAT on textiles sparking intense protests from the traders. The government did not buckle despite a state-wide eight-day trade holiday declared by the traders in January this year. The commercial taxes department continued detaining bales and urging traders to register for Tax Identification Numbers ( TIN).

However this April the traders were able to negotiate an alternative tax mode with the government. The government agreed to 1% tax on turnover and promised traders speedy issue of an ordinance to the effect. But four months after, traders are unsure if the government will keep its word. "The chief minister had assured us that an order would be released soon but there has been no progress. The commercial tax officers are detaining bales and demanding a penalty of 5% in addition to tax component, from July 2011. About 5,000 bales have been detained since by-polls concluded in June," said office bearer Prakash Ammanabolu of Andhra Pradesh Federation of Textile Associations. It has been learnt that one of the ministers opposed the trader's proposal denying the ordinance governor's approval. The proposal is now pending with the cabinet.

When contacted, commissioner, commercial taxes, Suresh Chanda said that his department was awaiting instructions from the government. "We are waiting for instructions but until they come we are bound by the law. However seizes are being made not just for non-payment of tax but also for not registering with the department, which is mandatory," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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