« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Service tax collections may top Rs 38,000 cr this fiscal... `Cheque-in-the- mail' time in US... » Textile machinery, spares at 4% VAT March, 28th 2007 The textile machinery and spares trade has lauded the Government for bringing textile machinery and spares under the 4 per cent VAT rate. The Coimbatore-based Textile Machinery and Mill Stores Merchants Association has in a statement said that the Government had removed the confusion over VAT rate relating to textile machinery and spares. When the Government had effected the VAT system in January last, textile machinery and spares were listed under the 12.5 per cent VAT rate as against the 4 per cent charged till then under the sales tax and this had led to confusion. However, the Government had reverted textile machinery and spares to the original 4 per cent VAT rate following a representation from the association, a press note from the association said.