EU loses 168 billion euros in sales tax fraud, errors

Last Updated: Friday, September 4, 2015, 22:40

EU countries lost 168 billion euros (USD 187 billion) in sales-tax revenue in 2013 mostly due to fraud and errors, the European Commission said on Thursday.

Utensils, wooden furniture to be cheaper in Delhi

Last Updated: Saturday, August 1, 2015, 19:31

Delhi govt has implemented over seven percent reduction in VAT imposed on such items.

Punjab, Haryana hike VAT on diesel

Last Updated: Thursday, July 16, 2015, 18:15

Punjab and Haryana raised Value Added Tax (VAT) on diesel, negating the full benefit of Rs 2 per litre cut on fuel to consumers.

Petrol, diesel prices cut by Rs 2, but no benefit in Delhi due to VAT hike

Last Updated: Wednesday, July 15, 2015, 23:06

The decrease in diesel prices would also be less in Delhi due to a hike in Value Added Tax (VAT) by Arvind Kejriwal-led Aam Aadmi Party government.

Petrol, diesel to be costlier in Delhi as VAT goes up

Last Updated: Wednesday, July 15, 2015, 21:56

The raise, effective from midnight today, is the first hike in Value Added Tax effected by Aam Aadmi Party government since capturing power in Delhi.

Delhi govt hikes petrol price by Rs 2.78, diesel by Rs 1.83 per litre

Last Updated: Wednesday, July 15, 2015, 21:07

Earlier in June, state-run Indian Oil had cut the fuel price by Rs.1.35 per litre, while increasing that of petrol by 64 paise a litre, in line with the trend in global oil rates.

Delhi Assembly passes amendment to VAT Act

Last Updated: Tuesday, June 30, 2015, 20:30

The Value Added Tax (Amendment) Bill was passed by the Delhi Assembly on Tuesday.

Greece's proposals target VAT, retirement, taxes: Reports

Last Updated: Monday, June 22, 2015, 18:43

Greece`s latest proposals to reach a debt deal with its creditors are focused on VAT rates, early retirement measures and tax increases, which aim to cover a good part of the country`s budgetary gap, Greek press reported Monday.

SISPA seeks VAT reduction on cotton

Last Updated: Wednesday, June 3, 2015, 16:27

Considering this, SISPA wants VAT to be reduced to two percent on cotton, cotton yarn, blended and synthetic yarns to safeguard the spinning industry in the state and save the livelihood of lakhs of workers in textile industry, he said.

Government mulls policy to impose VAT, entry tax on import of sand

Last Updated: Friday, May 22, 2015, 12:58

This will not only stop illegal transport of sand in the state, but will also get us revenue.

Punjab fuel pump owners seek lower taxes on fuel

Last Updated: Friday, May 15, 2015, 18:54

Dealers claimed that there was a drop of about 15-20 percent in diesel sale of fuel pumps witnessed in border districts of Punjab after raised VAT.

Amendment to Value Added Tax Act passed

Last Updated: Tuesday, March 24, 2015, 19:58

In a major relief to city's traders, Delhi government on Tuesday passed an amendment to the Value Added Tax (VAT) Act which will allow them to carry forward their credit for successive financial years.