Riyadh: Saudi Arabia and the United Arab Emirates (UAE) introduced the Value Added Tax (VAT) for the first time from Monday. It is a five per cent tax on most goods and services to boost revenue. The VAT will be applied on food, clothes, electronics and gasoline, phone, water and electricity bills, as well as […]
Chandigarh:The District Consumer Disputes Redressal Forum in Chandigarh has once again ruled that shops cannot charge extra value added tax (VAT) on items sold on discounted price, saying that by doing so they are “indulging in unfair trade practice”. Penalising Benetton India Private Ltd, the forum, presided by Rajan Dewan, observed: “The act of Benetton […]
Bhubaneswar: Indian Oil has paid Rs 2,935 crore to the Odisha government towards value added tax (VAT) for Paradip Refinery, said a statement on Tuesday. The oil company has paid the tax for the period between November 2015 — when the refinery commenced commercial operations — and July 2017. The development was a follow up […]
Panaji: The Goa government has hiked VAT on petrol by two per cent taking the price of the fuel to Rs 63.43 per litre, a spokesperson said on Saturday. The Value Added Tax (VAT) on petrol has been hiked from the existing 15 per cent to 17 per cent. “Even after such increase, petrol would still […]
Bhubaneswar: The Odisha cabinet in a meeting chaired by Chief Minister Naveen Patnaik on Saturday extended the value added tax (VAT) concession on pulses and dals for another three months till March 31. “The cabinet has decided to extend the time limit for reduced VAT on pulses for a further period of three months,” said […]
Bhubaneswar: Odisha is likely to incur a loss of revenue to the tune of Rs 1200 crore per annum as 1167 liquor shops in the state closed down following the Supreme order banning liquor sale along highways. The 1167 liquor shops closed down from midnight of March 31 included 456 off shops, 205 restaurant on […]
Bhubaneswar: Indian Oil Corporation Limited(IOCL) owes Rs 1,485 crore through Value Added Tax (VAT) to Odisha government and a notice would soon be issued to the company for payment, the state Assembly was informed on Monday. “IOCL’s refinery at Paradip, which started commercial production from November 22, 2015, is yet to pay Rs 1,485 crore […]
Bhubaneswar: The ruling BJD in Odisha today staged demonstrations in all the districts to protest against fuel price hike on June 15 by the Centre. The BJP, on the other hand, attacked the state government for imposing high tax on petrol and diesel leading to price rise of essential commodities. Congress, meanwhile, held both the […]
Bhubaneswar: A special session of Odisha Legislative Assembly will meet tomorrow to discuss the State Goods and Services Tax (SGST) bill, a mandatory requisite that needs to be followed before the proposed nationwide implementation of uniform GST. The special session will be held on May 18 and 19, official sources said on Wednesday. Ahead of […]
The Goa government on Wednesday hiked the value added tax (VAT) on petrol to ten percent, which would push petrol prices by Rs.5 and more. The hike will come into effect Jan 1
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