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  • Cost Accountants Eligible for VAT Audit in Tamil Nadu
    Posted Date : 18-Jun-2012 , 08:38:12 am | Posted By CASANSAAR

    Tamil Nadu VAT (Third Amendment) Act, 2012, which received the assent of the Governor on 31st May, 2012 recognizes Cost Accountants for VAT Audit under the Act   TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY   The following Act of the Tamil Nadu Legislative Assembly r...

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  • Delhi government cuts petrol price by Rs 1.26 per litre
    Posted Date : 28-May-2012 , 06:02:08 pm | Posted By CASANSAAR

    Petrol will be Re 1.26 per litre cheaper in the capital soon. The Congress government of Sheila Dikshit in Delhi has decided not to impose 20 per cent Value Added Tax (VAT) on petrol prices.  State-run oil marketing firms had last Wednesday announced the steepest-ever hike in petrol prices - D...

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  • Woman sales tax officer, CA jailed for bribery
    Posted Date : 29-Feb-2012 , 08:33:58 am | Posted By CASANSAAR

    A former woman sales tax officer and a chartered accountant, who gave her Rs 1,500 in bribe to settle a case, were sentenced to upto three years in jail by a Delhi court which said professionals like doctors and CAs are held in high esteem and should not indulge in corruption. Special Judge B R...

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  • West Bangal Cabinet okays hike in base VAT rate to 5%
    Posted Date : 22-Feb-2012 , 08:08:26 am | Posted By CASANSAAR

    The State Cabinet has approved the revision in base VAT (Value Added Tax) rate from existing four per cent to five per cent, a move that is expected to generate Rs 400 crore additional revenue annually.   The revision in base VAT rate is going to be reflected in the State Budget for 2012-13. ...

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  • Tax revenues in Jammu and Kashmir touch a high of Rs 4,800 crore: Abdul Rahim Rather
    Posted Date : 21-Feb-2012 , 08:28:48 am | Posted By CASANSAAR

    The total tax revenue collected by the state has touched a high of Rs 4,800 crore this year, Jammu and Kashmir Minister for Finance and Ladakh Affairs Abdul Rahim Rather said today. "This year, the total tax revenue has touched a high of Rs 4,800 crore compared to Rs 3,400 crore during last year...

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  • Value-added tax to be levied on sugar, textiles from April
    Posted Date : 15-Oct-2011 , 09:49:03 am | Posted By CASANSAAR

    Come April, and you may have to pay more for sugar and textiles. All the States have arrived at a consensus to levy the Value Added Tax (VAT) on these two items from April 1, 2012. The Centre had allowed them to levy it from April 1, 2006 in lieu of additional excise duty (AED) on sugar and textil...

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  • Tamil Nadu govt imposes tax on IPL, DTH
    Posted Date : 15-Sep-2011 , 09:28:20 am | Posted By CASANSAAR

    The Tamil Nadu government on Wednesday decided to impose entertainment tax on direct-to-home (DTH) service providers and the Indian Premier League (IPL) cricket matches. A Bill, which was passed unanimously in the assembly, said DTH services will attract 30% entertainment tax, while 25% ta...

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  • J-K removes VAT on state-made goods traded across LoC
    Posted Date : 28-Aug-2011 , 08:25:44 am | Posted By CASANSAAR

    Jammu and Kashmir Governor N N Vohra has promulgated an Ordinance introducing amendments to the VAT Act, 2005, making cross Line of Control (LoC) trade tax-free for goods manufactured in the state.The Ordinance was promulgated by the Governor yesterday on the recommendations of Chief Minister Omar A...

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  • SC questions UP’s taxation of RIL
    Posted Date : 24-Aug-2011 , 07:22:05 am | Posted By CASANSAAR

    The Supreme Court on Tuesday sought the Centre's response to an appeal filed by UP government, which questioned the Allahabad High Court's interim order restraining it from levying 21% value-added tax on natural gas supplied by Reliance Industries Ltd to industrial units in the s...

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  • VAT collection: Delhi govt to soon identify ''bogus traders''
    Posted Date : 13-Jul-2011 , 09:44:57 pm | Posted By CASANSAAR

    In an effort to improve VAT collection and identify "bogus traders", the Delhi government will soon carry out a comprehensive scrutiny of the traders registered with it. Commissioner of Trade and Taxes Rajender Kumar said the department would soon launch the scrutiny to detect the tax evaders and t...

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  • TN revises sales tax rates, expects to rake in Rs 3,900 cr
    Posted Date : 13-Jul-2011 , 07:25:37 am | Posted By CASANSAAR

    The Tamil Nadu government today revised sales tax rates applicable to commodities such as tobacco products and electronic goods such as cellular phones and LCD/LED panels, as well as on textiles and textile products.   Effective July 12, the revised rates are expected to bring in an additiona...

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  • Hawala racket: 37 firms raided in Mumbai, Rs 6500 cr busted
    Posted Date : 06-Jul-2011 , 07:18:08 am | Posted By CASANSAAR

    Maharashtra Sales Tax department claimed to have unearthed a major hawala racket having a turnover of Rs 6,500 crore after raiding 37 firms in the city. "During our investigations, we found that transactions worth around Rs 6,500 crore were carried out by 37 companies since 2007. Almost all the firm...

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  • Maharashtra govt. reduces VAT on diesel, kerosene
    Posted Date : 29-Jun-2011 , 10:53:31 am | Posted By CASANSAAR

    In a bid to minimise the impact of recent fuel price hike on consumers, the Maharashtra government today reduced Value Added Tax (VAT) on diesel and kerosene by two per cent.   Chief Minister Prithviraj Chavan told reporters here after the cabinet meeting that the new rates of VAT on diesel i...

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  • .....Pranab asks CMs to cut state levies on diesel, LPG, kerosene
    Posted Date : 27-Jun-2011 , 10:32:33 am | Posted By CASANSAAR

    Finance Minister Pranab Mukherjee today asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.   Seeking their co-operation, the finance minister in a letter "urged state governments to reduce levies on ...

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  • Haryana govt waives 5 pc VAT on kerosene
    Posted Date : 26-Jun-2011 , 09:27:34 am | Posted By CASANSAAR

    Haryana Chief Minister Bhupinder Singh Hooda today announced the decision of the state government to waive off the 5 per cent value added tax (VAT) on kerosene. The decision to make kerosene VAT-free would make it cheaper by 70 paise per litre.   Now, the consumer in Haryana would have to pay...

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