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Tuesday, January 28, 2020

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VAT NEWS

Gujarat government’s earnings from VAT on fuel cross Rs 14,000 crore

December 21, 2019 1:09 am

The government has witnessed a spike in revenues from VAT on fuel, despite slashing the tax twice in 2017 and 2018 by a total of seven percent. In October 2017, the state government ahead of the state Assembly elections, pulled down the VAT rates on fuel by four percent to 20 percent.

Chandigarh: Fuel prices back nearly where they were pre-cuts

October 17, 2018 7:27 am

Effective October 5, the Union Government had announced a cut of Rs 2.50 per litre on fuel. Following the Centre’s decision, the Haryana government too reduced VAT, slashing a total of Rs 4.60 off per litre diesel and Rs 4.38 off per litre petrol.

'Gujarat VAT cut on fuel not sharp, but better than price hike'

October 11, 2017 1:00 am

According to Pavan Mishra, Manager at a Shell pump, decrease in fuel prices will increase the sale. “Though there hasn't been a significant decrease, it still is better than a price hike,” he said.

Gujarat government cuts VAT by 4 per cent on petrol, diesel

October 11, 2017 12:40 am

With this rate cut, the price of petrol will come down by Rs 2.93 and that of diesel by Rs 2.72 in the state from Tuesday midnight, CM Vijay Rupani said. The new price of petrol in Gujarat will be Rs 67.53 per litre.

After excise duty cut, Centre wants states to slash VAT by 5 per cent on fuel

October 05, 2017 4:24 pm

"We urge states to take responsibility just like the centre did, in direction of consumer interest. If states slash VAT (on fuel) by 5%, consumers will get more relief," said Dharmendra Pradhan.

VAT evasion scam: As Haryana accuses SIT of inflating figures, High Court asks ED to verify scam amount

September 14, 2017 1:00 am

Last month, Haryana government, however, told the High Court that it strongly denied the claims of the SIT, adding that the figure was exaggerated by the latter just to make its report sensational.

From threats of ‘blood on the streets’ to national consensus

June 30, 2017 1:33 am

In March 2011, Finance Minister Pranab Mukherjee introduced the Constitution (115th Amendment) Bill to pave the way for the introduction of GST. The Bill was referred to the Standing Committee on Finance, then steered by Yashwant Sinha.

J&K government rolls back hike in levies

June 02, 2016 8:50 pm

"Given the demands of the House, the VAT on ready-made garments, hosiery and cell phones, which was increased from 5 percent to 14.5 percent, will be rolled back," said Finance Minister Haseeb Drabu.

Goa govt to reduce VAT on petrol to control price hike

June 01, 2016 2:29 pm

After the price hike last night, the petrol is costing Rs 62 per liter across the state

Delhi govt reduces VAT on hybrid cars, e-rickshaws to curb air pollution

May 12, 2016 12:27 am

The revised VAT rates will also reduce the cost of a host of items including marble, sweets, 'namkeens', school bags, footwear and ready-made garments.