Delhi Govt tables VAT Amendment Bill; can increase VAT up to 30%
Updated: Jun 30, 2015 01:21:32pm
New Delhi, June 30 (KNN) Though the Aam Aadmi Party (AAP) did not increase VAT in the party’s ‘Swaraj Budget’, but within a week’s time, AAP-led Delhi government on Monday introduced a VAT Amendment Bill that will allow the government to hike the tax on 11 goods by up to 30 per cent in future.
The government said the bill will make enabling provisions for levy of VAT in respect of goods enlisted in the Fourth Schedule such as liquor, tobacco, aerated drinks and others - at flexible rates instead of a flat slab of 20 per cent.
As per the proposal, Value Added Tax (VAT), which is flat 20 per cent as of now, can vary from 12.5 to 30 per cent on all goods, including liquor, CNG, petrol and diesel.
Meanwhile, Delhi Deputy Chief Minister Manish Sisodia has said that the government is not planning an increase in VAT and the proposal has been brought in only for the sake of flexibility.
According to sources, the VAT Bill (2nd Amendment) is aimed at moving towards uniformity in tax rates in comparison to the neighbouring states. (KNN Bureau)
The government said the bill will make enabling provisions for levy of VAT in respect of goods enlisted in the Fourth Schedule such as liquor, tobacco, aerated drinks and others - at flexible rates instead of a flat slab of 20 per cent.
As per the proposal, Value Added Tax (VAT), which is flat 20 per cent as of now, can vary from 12.5 to 30 per cent on all goods, including liquor, CNG, petrol and diesel.
Meanwhile, Delhi Deputy Chief Minister Manish Sisodia has said that the government is not planning an increase in VAT and the proposal has been brought in only for the sake of flexibility.
According to sources, the VAT Bill (2nd Amendment) is aimed at moving towards uniformity in tax rates in comparison to the neighbouring states. (KNN Bureau)
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