Calcutta Chamber of Commerce: the oldest chamber of commerce in IndiaCalcutta Chamber of Commerce: the oldest chamber of commerce in India
 





 
Events 2007  
 
March 24, 2007, The Conclave
Talk & Interactive Session
WB VAT ACT & CST ACT: RECENT DEVELOPMENTS

Mr. H K Dwivedi, Commissioner, Commercial Taxes, West Bengal informed that in keeping with the West Bengal government’s proposal to simplify Value Added Tax (VAT) return filing procedures, the state will introduce a simplified form for the purpose by the end of June 2007. Also, the government may soon introduce e-registration and e-filing options to file returns. The Commissioner said, “The new form will be more or less in alignment with the return filing forms by other states. One or two items, which we feel are unnecessary will be deleted, whereas a few questions, which we think are important might be added in the new form”. He added that the government would open central requisition cell in four circles of the state by the first week of April. The cells would enable a dealer to get registered on the day of submitting application form in the Commissioner’s office. Also, the dealers would get the registration certificate within seven days of submitting the application. Mr. Dwivedi informed the gathering that with the state embracing VAT from April 1, 2005, West Bengal has generated 17% more revenue in 2006-07, with a collection of Rs.3175.39 crores. Mr. Dwivedi said that Bengal would follow the Maharashtra model for refund of VAT to export-oriented and SEZ units and to domestic manufacturers against their excess payment on input tax.


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