Coinciding with the 3-day traders stir against the implementation of value added tax, the Mid-term Appraisal of the 10th plan has pointed to "serious design flaws" in the tax even as Planning Commission Deputy Chairman Montek Singh
Around twenty-five thousand retail mobile traders from across Maharashtra downed their shutters today in protest against the imposition of higher VAT at 12.5 per cent on sales of mobile handsets.
The states have been dismissive of the Centre's suggestion to cut taxes and advance the date of implementation of value added tax regime for medicines
The Twelfth Finance Commission chairman C Rangarajan said on Tuesday that he was in favour of an early implementation of the value added tax regime.
The Planning Commission has favoured the early introduction of nationwide value-added tax regime to augment revenues of the states and further restructuring of their costly debt to reduce their interest burden.
In Agartala, the Group A match between Mumbai and Tripura ended in a draw with the reigning champions earning three points by virtue of the first-innings lead.
In an apparent climb-down from its earlier stance, the Empowered Committee on value-added tax on Monday gave in to the Centre's plan for a nationwide VAT implementation.
Besides Hooda, Bhan and Phogat, the Congress has fielded Mewa Singh from Ladwa to take on Chief Minister Nayab Singh Saini.
An official panel on Tuesday ruled out any increase in value added tax (VAT) rates as part of a package to compensate states on account of revenue loss due to a one per cent cut in Central Sales Tax that was to have happened in the beginning of this fiscal.
'At present, hybrids emit lesser carbon despite using fuel than pure play electric cars.' 'That is because EVs have to be charged and 76 per cent of the country's electricity is still coal-based and not renewables.'
One of India's leading industry bodies - the Associated Chambers of Commerce and Industry - on Friday urged the government to bring sugar, textiles and tobacco products under value added tax.
Acceding to the long-pending demands of traders in Uttar Pradesh, the state government is planning to simplify the present structure of value-added tax. The state government also announced exempting handmade carpets (silk and wool) from VAT. "We will also close about 50 check-posts in the state in phases in order to safeguard the traders' interest. Unclassified items will also be categorised," he added.
The government on Monday said the tax revenue of VAT implementing states has shown an increase of 27.1 per cent during the first quarter of this fiscal year-on-year.
The Enforcement Directorate (ED) is expected to press money laundering charges against its two officers and some private individuals who were recently booked by the CBI in a bribery case linked to an accused arrested in the alleged Delhi liquor policy scam, official sources said Tuesday.
Delhi government on Wednesday exempted life-saving medicines from taxation under the value added tax regime and decided to approach the Empowered Committee of State Finance Ministers for reduction in sales tax on diesel.
The resistance to VAT in Uttar Pradesh has been declining after the tax's success in 21 states.
All textile items, currently exempted from value added tax, will attract 4 per cent VAT from the next fiscal, the empowered committee said on Thursday.
The panel on value added tax has decided that items which have at least 50 per cent industrial use will attract 4 per cent tax rate for that particular use.
Trade body Bharatiya Udyog Vyapar Mandal gave a call for a nationwide strike on Friday against the VAT system, implemented by 21 states from this month.
Reports from around the country in the latest round of matches in the ongoing Ranji Trophy
