VAT and CST Act
It has been noted that VAT is applicable at multiple rates which are 4%, 8%, and 12.5%. Whereas the CST rates against C form are restricted to 2%. The differential between the highest VAT rates and CST rates are too high for the traders to take the risk. It has been found that traders dealing in items with highest rate of VAT generally have central sales. The reasons are clear. The government shud resolve this issue. more
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when taxation laws are framed to catch person who escaped from the net due to inappropriate drafting of the law in judicial scrutiny is the reason for such things. the govt fails to understand the logic and principles on which a tax is imposed and its purpose but some how balance budget by robbing peter to give robin such things happen. it is such policy followed by the govts that is responsible for such a situation. further many a provisions are due to lobbying by vested interests. maruti would not have been what it is today if the govt used the tax laws only to pass on favor to maruti . more
Oct 13
It is important for the concerned governments to take remedial action. Business man are of the view that the differential is much higher than the margins earned in trading of items. more
Oct 12
It is my earnest request to the Hon'ble Finance Mininster, Govt. of India and Most respected Modi ji, Hon'ble Prime Minister of India to direct the Department of Income Tax for promptly paying the refund due to income tax payers who manually filed their IT Returns. The refund should be paid before Deepawali so that people can celebrate the festival with enjoyment. Delay in payment of refund costs heavily to central government as 8% interest has to be paid on the refund amount. Further, it is widely known that people have to repeatedly visit office of income tax department and grease the palm of dealing hands to get refund. Prompt and date bound payment of refund will check the existing state of corruption which is going on unabated for years together. Fervently hope, this appeal will be taken seriously and promptly in public interest. more
Oct 12
