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Delhi - No new tax in Delhi budget, power arrears waived

The 2008-09 Budget — with an outlay of Rs 1,000 crore more than last year as recommended by the Planning Commission — has good news for the power sector. Dr Walia announced that the government will waive as much as Rs 2,539 crore in arrears which was to be collected from private consumers by discoms. However, arrears of government departments have not not been waived.

While there are no new taxes this year, the Value Added Tax (VAT) has been reduced on several items.

VAT is that

* VAT on locks, weights and measures reduced from 12.5 per cent to 4 per cent.

* VAT on Compact Fluorescent Lamp (CFL) and electronic chokes down from 12.5 to 4 per cent.

* VAT on all categories of namkeens and sweetmeats reduced from 12.5 to 4 per cent.

* VAT on fibre boards and particle boards made from agricultural waste like bagasse down to 4 per cent.

Click to view budget speech, dated 24/03/2008

Dealers required to submit Commodity wise Turnover

The Commissioner, Value Added Tax Government of NCT of Delhi has issued a Notification requiring dealers whose tax period is monthly to submit commodity wise Taxable Turnover (TTO) and Tax, along with the returns in Form DVAT-16

The format of the details to be submitted is S.No., Name of the Commodity Taxable Turnover (TTO), Rate of Tax and Tax

Click to view / download F.1(22)/P-II/VAT/Act/2007/578-588 dated 22/11/2007