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: due date for vat payment :: cpt :: TDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARDS
VAT (Value Added Tax) »
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation
 HC seeks Delhi, centre reply on restaurants charging excess VAT, service tax
 Shakti Autos booked for evading VAT, bogus sales
 VAT sops to IOCL Paradip refinery hits Odisha revenue growth
 Government to announce new VAT rates in October
 World Wide Gst, Vat, Sales Tax Rate
 Article on Transition Process of Registrations under VAT / Service Tax Laws to GST Law

VAT refund: Cases pile up in excise office
September, 26th 2012

The excise and taxation department has so far failed to clear thousands of VAT refund cases prompting the industry in Ludhiana to call a meeting on October 1. Industrialists have also called the excise and taxation commissioner A Venuprasad for the meeting to find reasons for the delay and to urge the commissioner to simplify the methods for claiming VAT refund.

Sources, however, said a fund crunch was behind the delay while in a few other cases, incomplete documents were to blame. In the bicycle parts industry alone, more than 350 VAT refund cases are pending since 2011 while in the auto parts industry, around 500 such cases have been pending for more than a year.

Another reason being cited by industrialists for the delay is the four-stage verification of the claim while the excise department is mandatorily seeking C form and H forms before releasing the VAT refund. Industrial representatives had held a meeting with Kamaljeet Brar, deputy excise and taxation commissioner (DETC), a few days back over the issue.

Gurmeet Singh Kular, president of the United Cycles Parts and Manufacturers Association (UCPMA), said: On one hand, the department is increasing taxes, and later they are delaying VAT refund cases. Most of the association members are yet to get the VAT refund for 2011-12.

P D Sharma, president of Apex Chamber of Commerce and Industry, added: Hundreds of cases are lying pending for more than 2 years. We have called a special meeting to discuss the issue on October 1. If taxes are being sought, even the refund also need to be released soon. Industry cannot function like this.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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