Exporters in Delhi will no more have to rush from one department to another for refund of the value added tax (VAT). The Delhi government Thursday started a single window service to speed up the process of payment of VAT refunds to the exporters. “Export promotion has been an important effort of the government at [...]
Archive for the ‘VAT’ Category
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Punjab announces VAT hike & then differs its decission
Posted by khyati on July 29th, 2010
Barely an hour after it decided to hike value-added tax on petrol “up to 35 per cent”, the Punjab government made an abrupt volte face and announced that the decision was being deferred. “The Cabinet gave approval to amend Section 8 of Punjab Value Added Tax Act, 2005, for levying VAT on petrol up to [...]
Loose ends in VAT system leading to tax evasion could be avoided in GST:- CAG
Posted by admin on July 26th, 2010
Loose ends across the Value-added Tax (VAT) system had led to tax evasion in states and such deficiencies should be avoided while introducing the Goods and Services Tax (GST), said a recently-released study by the Comptroller and Auditor General of India (CAG). The performance audit, conducted in 23 states for the post-VAT period between April [...]
Delhi Govt slashes VAT on diesel
Posted by admin on July 18th, 2010
Inflation-hit Delhiites can breathe a little easy with Delhi Government slashed the value added tax on diesel to 12.5 per cent from the existing 20 per cent which would bring down the fuel prices by Rs 2.70 per litre to Rs 37.50 per litre in the city. The decision to decrease VAT on diesel from [...]
Goa considering reducing VAT on petroleum products to ease prices
Posted by admin on June 30th, 2010
Goa Chief Minister Digambar Kamat today said the state was examining the possibility of reducing Value Added Tax (VAT) on petroleum products to ease the prices.
The Commissioner of Commercial Taxes Department has been asked to examine the possibility of reducing VAT on these products, Kamat said.
SIPB approves VAT rebate for 5 years & other sops for new industries
Posted by admin on June 30th, 2010
The State Investment Promotion Board (SIPB) decided to extend about 50 per cent VAT or State General Sales Tax reimbursements for five years along with other incentives to the industries setting up base in Andhra Pradesh in accordance to the Industrial and Investment Policy 2005-10.
A meeting of the SIPB chaired by the Chief Minister, Mr K. Rosaiah considered the cases pertaining to 27 industries with a total investment potential of about Rs 18,138 crore having employment generation potential of 59,732.
