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Goods and Services Tax - Page 392

Revised Procedure for on line submission of application for obtaining registration under the MVAT Act, 2002

Trade circular No. 25 T of 2009 (25/09/2009)

Present Procedure: At present, the applications for registration are being made manually to the Registering Authority. On the receipt of the application, the application and the enclosed documents are verified by the Registering Authority and TIN Allotment Letter is issued on the same day. Tin certificates are being issued afterwards....

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State Governments finally agrees to GST

States have finally reached a consensus on having two basic rates under the Goods and Services Tax, slated to be rolled out on April 1, 2010. There will be one standard rate of taxation and another low rate of taxation for essential commodities....

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Kerala rolled out e-payment facility for VAT dealers

Having achieved 100 per cent e-filing of returns, the State Government has taken the next logical step of introducing ‘e-payment’ to all its registered VAT dealers. e-payment has been made mandatory for all TIN dealers from September 1. It was formally launched at a function here on Tuesday. According to the Finance Minister, Dr Thoma...

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Provision of Electricity – Whether sale of goods or supply of service ?

Karnataka Power Transmission Corpn. Vs Ashok Iron Works Pvt. Ltd (Supreme Court of India)

As the principal arguments have been advanced in Civil Appeal No. 1879/2003, we take up the facts of that appeal which are thus, briefly put. M/s. Ashok Iron Works Private Limited (for short, 'the company') is a Private Limited Company and engaged in the activity of manufacture of iron products. The company applied for the supply of elect...

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Circular on Grant of refund under MVAT Act to specified category of dealers – Modifications/clarifications

Trade Circular No. 24 T of 2009 (29/08/2009)

Refund audit of previous period: To become eligible under this Trade Circular, at least one refund audit of the claimant dealer should have been completed in respect of at least one previous period. This condition will however be not applicable to the newly registered dealers for refund claim of first year....

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Notification on Compulsory E- Filing of Form-101 related to MVAT registration

Notification No. VAT/AMD-1009/ IB/Adm-6 (26/08/2009)

In exercise of the powers conferred by sub-rule (1) of Rule 17A of the Maharashtra Value Added Tax Rules, 2005, the Commissioner of Sales Tax, Maharashtra State hereby provides that on or after 1st October 2009, the dealers, who are liable to...

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New amended form No. 704 and issues in it under the MVAT

New MVAT Audit Form 704 Additional responsibilities as an Auditor Additional features to be reported in New Form 704 Issues and Difficulties Welcome Changes and Redundant Sections in Old Form 704...

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Summary of Amendments made by Maharashtra Value Added Tax (2nd Amendment) Rules 2009, dt 18th June 2009 w.e.f 01st July 2009

On 18th June 2009 the Government of Maharashtra has passed the Maharashtra Value Added Tax (2nd Amendment) Rules 2009 These amendments are brought into effect from 1st July 2009 unless otherwise specified. Following are the amendments which are made in the MVAT Rules: – ...

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Amendments made by Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2009 (Mah Act No. XVII of 2009) in MVAT ACT

On 29th June 2009 the Government of Maharashtra passed the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2009 (Mah Act No. XVII of 2009) and amended the Maharashtra Value Added Tax. These amendments are brought into effect from 1st July 2009 unless otherwise specified. Following are the amendments which are made in the MVAT [...

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MVAT Audit Repot in form 704 can be filed only online after 30th September 2009

Notification No. Vat/AMD-1009/IB/Adm.6 (21/08/2009)

In exercise of power conferred by sub rule (1) of Rule 17A of the Maharashtra Value Added tax Rules, 2005, The Commissioner of Sales Tax, Maharashtra hereby provides that the dealers who are liable to get the accounts audited as per the provisions....

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.