Financial Daily from THE HINDU group of publications
Monday, Apr 03, 2006
News
Features
Stocks
Shipping
Archives
Google

Group Sites

 Industry & Economy - Taxation


VAT: Keep penalties in abeyance

Our Bureau

New Delhi, April 2

While welcoming the implementation of value added tax (VAT) in Madhya Pradesh, the PHD Chamber of Commerce and Industry has urged the State Government to keep the imposition of any penalties in abeyance for at least the first six months, as there may be unintended violations by the taxpayers. According to the chamber, VAT would lead to the augmentation of tax collection, as witnessed in other states, where revenue had increased by over 15 per cent in the fiscal 2005-06. It is a self-policing, progressive system, which encourages fair practices, the chamber said.

More Stories on : Taxation | Other States

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
IOB hikes FCNR deposit rates

Karnataka Bank hikes NRE rates
AP CM lays foundation stone for bio-diesel plant
Investments into AP double in last two years
Ernakulam dist tops in revenue collection
MRAs with Singapore: Final talks by July 31
Taiwan trade team coming to Chennai
KRL project set to transform face of Vypeen island
`Sequential' opposition delaying drug patents
2 units tested successfully at Tehri
SAIL registers record output, sales in '05-06
VAT: Keep penalties in abeyance
IIFT to offer MBA course in Kolkata
IIM-A to hike fees by 12 pc
Bimtech students win all-India contest
Pasteurising plant for `panchamirtham'
`GE scanner is significant tool in diagnosis'
Panchshil Infrastructure to invest Rs 150 cr in Pune
`Chennai heading for acute housing shortage'
FICCI study sees hardening of rates
Delhi Chamber asks Govt not to recast SEZ group
Printo rolls out first of 13 shops in Bangalore
P&G, CRY launch `Shiksha'
Development schemes' funds to be released on quarterly basis
`H-1B fee paid by US cos funds scholarships'
CII-Schwing Stetter tie-up
Voting Assam style!
Session on blood donation
Agenda for the week
Export subsidy to activate pepper market
Govt chalks out plans to develop coastal tourism

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line