After five years of introduction of Value Added Tax (VAT) in the State, the mixed results are being observed. The government earned the huge revenue in absolute terms but the growth rate on yearly basis was the lowest during the…
Tag: taxes
GHMC Decides to Collect Tax for Sign Boards
The Greater Hyderabad Municipal Corporation (GHMC) decided to collect advertisement tax under another section of the GHMC Act. The decision will affect nearly eight lakh businesses, along with petty and small traders. GHMC took this decision against the high court’s…
Mandatory E-payment Of Duty, E-filing Of Returns Will Be Introduced From April 1st
The Chief Commissioner of Central Excise & Service Tax (Hyderabad Zone), A.P., said that e-payment of excise, customs duty, service tax and e-filing of returns is mandatory and will be in execution from April 1. He was addressing assesses (a…
GHMC Net Revenue in 2010 Crosses Rs.1,000 crore
GHMC collected Rs. 488 crore in property tax collection (81.35 per cent) for the year 2009-2010, though only 8.2 lakh households out of the 11.5 lakh households paid the tax in the last financial year which concluded on March 31st.…
Everybody Pays Taxes Including Those Below Poverty Line
People have tendency to think that the lower middle class people don’t pay tax at all. Even they (lower middle class people) themselves think the same way. If you ask anyone from that category whether they are paying taxes, they…
Increase in Value Added Tax
Recently, the state government has increased the Value Added Tax (VAT) rate from 12.5 per cent to 14.5 percent quoting recession as a main reason. According to the state government’s order (G.O.35), goods taxable under Schedule-V of the VAT Act…
Increase in Four Wheeler Lifetime Tax
The state government has increased the lifetime tax on four wheeler automobiles. According to the official sources, the hike is supposed to fetch additional revenue of Rs.100 crore a year. However, the two-wheelers’ lifetime tax remains the same. Presently, the…