VAT News

Sales tax notices hit real estate

11 June 2008 at 12:14

The notices issued by the sales tax department on “work contract tax” have sent the real estate industry into a tizzy. A representation of city builders will meet the finance secretary on Wednesday

Posted in VAT | 6 comments | 28320 Views

State may give sales tax relief

05 June 2008 at 11:17

The Maharashtra government has decided to reduce sales tax to bring relief to people adversely affected by the steep hike in the prices of petrol and diesel. While the state is still debating the quantum

Posted in VAT | 13269 Views

Central Sales Tax (CST) reduced to 2% from 1st June, 2008

31 May 2008 at 01:23

On the basis of the discussions between the Empowered Committee (EC) of State Finance Ministers and the Union Finance Minister regarding the compensation package, the Government of India, Ministry of Finance, Department of Revenue has issued a notifi

Posted in VAT | 8 comments | 33894 Views

No VAT rate hike to compensate CST rate cuts

16 April 2008 at 12:25

PTI NEW DELHI AN OFFICIAL panel on Tuesday ruled out any increase in Vat rates as part of a package to compensate states on account of revenue loss due to a 1% in Central Sales Tax that was to have happened in the beginning of this

Posted in VAT | 11448 Views

Exporter's in distress with centre's proposal

05 February 2008 at 13:26

EXPORTERS IN DISTRESS WITH CENTRE'S PROPOSALThe Centre proposes to request the state governments to increase the Value Added Tax(VAT) rate from 4% to 5%. This proposal has made a section of exporters a bit nervy who missed out on VAT refunds from se

Posted in VAT | 5481 Views

E-filing of VAT returns on cards

24 September 2007 at 23:09

PUNE: Filing of returns would soon be a much easier preposition for the value added tax (VAT) dealers in the city. The sales tax, Pune division, will introduce the facility for online filing of VAT returns in two months, D.V. Bhalchandra, additional

Posted in VAT | 3 comments | 19446 Views

MVAT Audit Report Date Extended upto 31-10-2007

22 August 2007 at 17:31

Dear Members,The Hon'ble Bombay High Court has extended the last date for submission of VAT Audit Report in Form No. 704 upto 31st October, 2007 for the Financial Year 2005-2006.Thanks

Posted in VAT | 11502 Views

Targets set-"VAT n STT data to trace Tax evasion!!!"

30 July 2007 at 07:10

NEW DELHI: If you are planning to buy a large quantity of shares in a blue-chip company, better get your account books right. The government may soon use the security transaction tax (STT) data to track cases of income tax evasion. The Central Board

Posted in VAT | 9291 Views