Goods and service Tax News, Articles and Notification

At present, the information regarding goods being brought into and moving out of the state of Punjab (Inter-state transactions) is furnished at the Information Collection Centers (I.C.Cs)/ Check Posts by the dealers and consumers. Now, this process of collection of information from dealers will be extended to intra-state transactions also (within Punjab) i.e. goods moving from one part of the State to other part. Hence, all the dealers making intra-state transactions sha.. Full Article

Ministry of Finance has initiated a public debate on the issue of a negative list for taxation of services as announced by the Finance Minister, Shri Pranab Mukherjee in his Budget 2011. The text of the speech is as below-Many experts have argued that it will be desirable to tax services based on a small negative list, so that many untapped sectors are brought into the tax net. Such an approach will be very conducive for a nationwide GST. I propose to initiate an informe.. Full Article

Trade Cir. No. 7T of 2011 , Date: 04/05/2011 To give effect to the Budget proposals, a Bill (Legislative Assembly Bill No. XVII of 2011) to amend the Maharashtra Value Added Tax Act, 2002 was introduced in the Legislature. The said Bill has been passed by both the houses of the Legislature. The Act is now published in the Maharashtra Government Gazette dated 21st April 2011. Full Article

No.VAT-1511/CR-57/Taxation-l -Exemption On Sale Of Liquor Exemption has been granted under section 41(5) to the extent notified to the specified classes of dealers in respect on sale of Liquor covered under entry 1, 2 and 3 of Schedule D (i.e. Foreign liquor, Country Liquor and Imported liquor respectively). Consequently, set-off on purchases of such liquor to these dealers will not be allowed under Rule 54(i). Full Article

Punjab & Haryana High Court in Bhushan Power & Steel Limited v State of Punjab & others has granted interim stay to the petitioners on the levy of entry tax u/s 3-A of Punjab Tax on Entry of Goods into Local areas Act 2000(hereinafter called as the Act), by considering it to be as ultra-vires of the State Government’s power to levy tax under the Constitution of India. Here the grounds on which stay has been granted are being discussed and an attempt has been made to ma.. Full Article

As we know the Hon’ble Punjab & Haryana High Court has already stayed the levy of entry tax in Punjab in the case of M/s Bhushan Steel v State of Punjab case on 28-03-2011 and also in other similar writ petitions challenging the levy of entry tax in Punjab on 08-04-2011. But the interim stay were applicable only to the persons who have filed writ petitions and the relief regarding deferment from payment of entry tax was available only to the concerned persons who have .. Full Article

Various Notifications as per Budget Speech- 2011-12 VAT.1511/C.R. 54(1) to (6)/Taxation-1 dated 27th April 2011 In exercise of the powers conferred by entry 82 of SCHEDULE C appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby with effect from the 1st May 2011, amends the Government Notification, Finance Department, No. VAT-1505/CR-119/ Taxation-1, dated the 1st April 2005, as follows, namely:‑ In the said notifi.. Full Article

MAH. ACT NO XV OF 2011- Maharashtra Tax Laws (Levy, Amendmend and Validation) Act, 2011 with Date of effect Notification for provisions of certain sections. Maharashtra Value Added Tax Act Notifications - MAH. ACT NO XV OF 2011. Full Article