Goods and service Tax News, Articles and Notification

Government of Maharashtra has made it mandatory for all dealers to file their VAT returns only through electronic format. Dealers can e-file periodical returns from any place at any time through Government of Maharashtra website  ( http://www.mahavat.gov.in ) using the Internet. Government of Maharashtra has taken lot of measures to ensure that the return filing information is made [...] Full Article

The Union Finance Minister Shri Pranab Mukherjee said that the primary benefit of the Goods and Services Tax (GST), when introduced, would be the removal of cascading effect of taxes which acts like a hidden cost and makes goods and services uncompetitive both in domestic and international markets. Full Article

Punjab VAT has notified all Tax Payers, VAT consultants, CA’s and all other stake holders that Department of Excise and Taxation, Punjab is proposing to amend forms VAT-1, VAT-4, VAT-15, VAT-18, VAT-19, VAT-23, VAT-24 and VAT 56 and to introduce forms VAT 61 and VAT 62 in Punjab Value Added Tax Rules, 2005, to make it compatible with the upcoming IT System and responsive to the needs of the taxpayers. Full Article

Meaning:- The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. France was the first country to introduce this value added tax system in 1954 devised by a public servant. In India, due to non consensus between central and state government, the proposal is to [...] Full Article

The Sales Tax Department will identify the Defaulters namely, registered selling dealers who have not paid the full amount of tax due in the Government Treasury either by not filling their returns at all or by filing returns but not paying the full tax due or where returns are filed but sales to the concerned dealers are not shown (i.e. undisclosed sales). Full Article

The Government of Maharashtra VAT Department has displayed the periodicity for the Financial Year 2011-2012 on their website http://mahavat.gov.in under Know your TIN. To view the same - Go to http://mahavat.gov.in Click on Dealer Services. Drop Down with 3 options will open. Click on Second Option Know Your TIN. Full Article

The Department of Sales Tax, Maharashtra State has declared the List of Suspicious Dealers who has issued false bills without delivery of goods on their website http://mahavat.gov.in in Excel 2007 file containing 698 names firstly. An additional list making total 817 names was declared later and further list was updated covering 1009 names. Full Article

I, Rajendra Kumar, Commissioner, Value Added Tax, Government of National Capital Territory of Delhi, in exercise of the powers conferred on me by sub-section (1) read with sub-section (3) of Section 70 of Delhi Value Added Tax Act, 2004, hereby order that notification No.F.7(433)/Policy-IINAT/2012/1464, dated 23.03.2012 shall be applicable only for movement of goods in pursuance of interstate sale, stock transfer and export. Full Article