Recent Amendments / Changes in MVAT 2013
Posted Date : 12-Jun-2013 , 04:06:38 pm | Posted By
PAWAN JAJOO
Recent MVAT Amendments/Changes 2013
The Schedules A,B,C,D appended to Maharashtra Value Added Tax Act, 2002 are amended with effect from 01-04-2013. Further , certain notifications are also amended. These amendments are briefly disc...
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Category : VAT |
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FAQs on compliance with Haryana VAT Act 2003 by a work contractor
Posted Date : 22-Feb-2013 , 11:37:51 am | Posted By
Vinay Sharma
FAQs on compliance with Haryana VAT Act 2003 by a work contractor
1. What is work contract?
As per section 2(zt) of HVAT Act, work contract includes any agreement for carrying out assembling, construction, building, altering, manufacturing, p...
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Category : VAT |
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VAT LAW
Posted Date : 19-Feb-2013 , 03:42:18 pm | Posted By
Shyam
DVAT
A. Due Dates for Payment of Tax:-
From: 5th December 2005.
Nature of Dealers
Due Date for Deposit of Tax
Tax period is ‘quarter’ or...
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Category : VAT |
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Penalty u/s 51 of Punjab VAT Act whether just and reasonable?
Posted Date : 16-Feb-2013 , 10:11:29 pm | Posted By
May I Help You.
Section 51(7)(c) of Punjab VAT Act, 2005 prescribes penalty equal to 50% of the value of goods for not producing requisite documents i.e (Invoice/Delivery challan, Goods Receipt etc.) at the check post or Information collection centre with a view to attempt or avoid or evade th...
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Category : VAT |
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New Punjab VAT Number Registration Requirements
Posted Date : 11-Feb-2013 , 06:35:15 pm | Posted By
Anjali Arora
-.Stamp Paper of Rs. 25/- (3 No.)
-.Punjab VAT & CST Surety Bond.
-.Affidavit attested by notary.
-.2 Sureties (within Punjab) or 2 Bank Guarntees for Rs. 50,000/-
-.Court fees stamp of Rs. 30/-
-.Copy of Resolution (i...
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Category : VAT |
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What is VAT?
Posted Date : 22-Jan-2013 , 07:27:28 pm | Posted By
Suresh Tamang
VAT is a system of indirect Tax, which has been introduced in place of sales tax. VAT is paid by the producers-manufactures-retailers-dealers of the products. They add on their product/produce price and that is at last paid by the user of the goods/consumer. VAT is a fair and u...
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Category : VAT |
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DVAT on set top boxes
Posted Date : 20-Dec-2012 , 12:42:59 pm | Posted By
Roopak
DVAT ON SET TOP BOXES.
Commissioner, VAT, Department of Trade and Taxes, Delhi has issued acircular ...
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Category : VAT |
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Role of Chartered Accountant in VAT
Posted Date : 20-Dec-2012 , 12:26:03 pm | Posted By
Vinay Sharma
Chartered Accountants have a key role to play in proper implementation of VAT.
(i) Record keeping : VAT requires proper record keeping and accounting. Systematic
records of input credit and its proper utilisation is necessary for the success of VAT. Chartered
Accounta...
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Category : VAT |
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Illustrative Examples Regarding Calculation of CST
Posted Date : 16-Jun-2012 , 11:59:15 am | Posted By
Vikash Kumar Jha
Illustrative Examples Regarding Calculation of CST
Question–
Total interstate sale for the Financial Year 2008-09 of JHA Ltd. is Rs. 1,50,70,000, which consists of the following: Sale upto 31-5-2008 – Rs 91,50,000 (If the goods are sold within the State, sales tax rate is ...
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Category : VAT |
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WHO PAYS SALES TAX IN INDIA ?
Posted Date : 13-May-2012 , 11:57:12 am | Posted By
Surendra Kumar Dash
Sales Tax i.e. the Central Sales Tax (CST) is an indirect tax as it is recovered from the buyers/consumers as a part of the consideration for the sale of goods. However, for the purpose of CST, the actual payment of the Sales Tax is made by every dealer on the goods sold by him...
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Category : VAT |
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SALES TAX IN INDIA
Posted Date : 12-May-2012 , 02:01:00 pm | Posted By
Surendra Kumar Dash
Sales tax is levied on the sale of a commodity which is produced or imported and sold for the first time. If the product is sold subsequently without being processed further, it is exempt from sales tax.
Sales tax can be levied either by the Central or St...
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Category : VAT |
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SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956
Posted Date : 18-Sep-2011 , 03:16:27 am | Posted By
Vikas
C Forms Under CST ACT 1956
SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956
Under CST Act 1956 there are lot of Forms and declarations which help in saving CST on the interstate transactions. C form is an important and foremost common among dealers registered under CST Act 1956 enga...
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Category : VAT |
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Procedure & Documents for Registration under VAT
Posted Date : 22-Jun-2011 , 10:15:40 am | Posted By
Anjali Arora
Who Should Register?
You are required to register under DVAT if:
Your turnover in the year preceding the commencement of the DVAT Act exceededRs. 5 lakhs;
...
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Category : VAT |
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Duplication in input tax credit major source of misuse in VAT
Posted Date : 14-Mar-2011 , 12:41:33 pm | Posted By
CASANSAAR
Value Added Tax is widely believed to be a tax which is not so evasion prone because of the audit trail that it creates. However, this audit trail is not so much easy to pursue mainly because of very voluminous records of input credit that are to be checked.
...
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Category : VAT |
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