Page 2 - Vat

Nepal traders stop importing vegetables from India after govt slaps 13% VAT

Traders in Nepal on Tuesday said they have stopped importing onions, potatoes and other vegetables from India after the government slapped a hefty 13 per cent Value-Added Tax (VAT) on these items last month. Opposition lawmakers have criticised the Nepal government's move, arguing that it would make low-income families vulnerable to food insecurity and increase the agony of people who are already hit hard by skyrocketing inflation. According to the financial bill introduced in Parliament on May 29, imported onions, potatoes and other vegetables and fruits will now be subjected to a 13 per cent VAT. Finance Minister Prakash Sharan Mahat has defended the move, asserting that it was intended to protect local farmers and trim imports. Nepal imports almost all its onions from neighbouring India. Last year, it imported 173,829 tonnes of onions from India. Nepal grows potatoes that cater to around 60 per cent of local demand, while the rest are also imported from India. Opposition lawm

Increasing VAT on petrol, diesel burden on common man: Sukhbir Badal

SAD President Sukhbir Badal condemned the AAP government for putting an unprecedented burden on the common person and farmers by repeatedly increasing VAT on petrol and diesel

Invoices, cheque payment not sufficient to claim ITC under VAT: SC

Apex court allows tax authorities' appeal against Karnataka High Court judgment

Maharashtra govt cuts VAT on aviation jet fuel, gives carriers relief

New rate will be applicable in Mumbai, Pune and Raigad districts, says state budget

Punjab cabinet imposes 90 paise per litre cess on sale of petrol, diesel

The Punjab Cabinet on Friday gave its approval for a marginal increase in the VAT rates levied on the sale of petrol and diesel in the state

Congress-led Himachal govt hikes VAT on diesel by Rs 3.01, BJP slams move

With this, the diesel is now costs Rs 86 per litre in the state

Six non-BJP ruled states have not reduced VAT on petroleum products: Govt

Six non-BJP ruled states West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand have not reduced the VAT on petroleum products, leading to higher prices of petrol and diesel there, Petroleum Minister Hardeep Singh Puri said on Thursday. Puri said in Lok Sabha that the central government has reduced excise duty on petroleum products and some other states, following cues, and reduced their Value Added Tax (VAT). Six states West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand have not reduced the VAT, he said amidst vocal protests by the opposition members. The minister said, currently the petrol price in India is one of the lowest. He said the oil marketing companies together suffered losses of Rs 27,276 crore due to high prices of crude in international markets. I suggest MPs from the opposition impress upon their state governments to reduce the VAT so that they can also join the celebrations, he said. Puri said India imports more than 85 p

Insurer needn't pay for VAT on unsold goods

The National Commission said VAT is payable only on sale. If goods are damaged before sale, VAT is not payable, so to claim it is incorrect

Minister Jitu Vaghani announces 10 pc VAT cut on CNG, PNG in Gujarat

Gujarat Education Minister Jitu Vaghani on Monday announced 10 per cent value-added tax (VAT) reduction on compressed natural gas (CNG) and piped natural gas (PNG) by the state government

No new tax or VAT increase in Uttar Pradesh, announces CM Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Friday said that keeping in mind the larger public interest, the government has neither increased the VAT and nor has imposed any new tax in the state

Maharashtra govt cuts VAT on petrol by Rs 5, diesel by Rs 3 per litre

Shinde informed reporters after a cabinet meeting at Mantralaya that the decision would entail a burden of Rs 6,000 crore on the state exchequer

'Smokeless' LPG bringing tears to eyes as prices rise 30% in one year

LPG rates this week were hiked by Rs 50 per 14.2-kg cylinder, taking the total increase in last one year to Rs 244 or 30 per cent.

Further cut in state VAT on fuels can soften inflationary pressure: RBI Guv

Das said in his remarks while spelling out the outcome of the ongoing monetary policy review meeting that started on Monday.

Punjab: Opp parties demand cut in VAT on fuel as govt slashes excise duty

The opposition parties on Sunday demanded from the AAP government in Punjab to reduce VAT on fuel after the Union government slashed excise duty on petrol and diesel to give relief to consumers

Maharashtra reduces VAT on petrol by Rs 2.08/ltr, diesel by Rs 1.44/ltr

A day after the Centre reduced excise duty on fuel, the Shiv Sena-led Maharashtra government on Sunday slashed the VAT on petrol by Rs 2.08 per litre and diesel by Rs 1.44 per litre. A statement issued by the government said the state exchequer will have to bear an annual loss of Rs 2,500 crore as a result of this decision. After reducing the VAT on petrol and diesel, the per month revenue from petrol will reduce by Rs 80 crore, while that from diesel by Rs 125 crore. The central government on Saturday announced a record Rs 8 per litre cut in excise duty on petrol and Rs 6 reduction on diesel.

Italy lowers fuel taxes to help tackle surging prices due to Ukraine war

A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8

68% of taxes on petrol and diesel taken by Centre, alleges Congress

The grand-old party has been attacking the government for high taxes on fuel despite low international crude prices

PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot

Gehlot claimed Centre has earned about Rs 26 trn from excise duty in 8 years which, he said, is the highest amount earned by any dispensation in history of the country by imposing tax on petrol-diesel

Blame game does not give relief to common man: Fadnavis on Uddhav's remark

Senior BJP leader Devendra Fadnavis also asked chief minister Uddhav Thackeray whether he would slash the VAT on petrol and diesel in July when Union government clears all the dues

Centre earned highest revenue by taxing petrol & diesel: Ashok Gehlot

Rajasthan imposes VAT of 30 per cent on petrol and 22 per cent diesel, which are among the highest in the country