CA Mukund Abhyankar

18 Immediate Points of Action before roll out date of GST

Goods and Services Tax - Articles deals with following issues related to GST which needs to be taken care of immediately before roll out date of GST 1. HSN /SAC Codes 2. Carry Forward of Cenvat / VAT Credit balance on Inputs / Input Services...

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Using GST for checking menace of undisclosed sales & incomes

Goods and Services Tax - Following measures can be adopted to curb the practice of undisclosed turnovers in the GST law. 1. Discouraging Without Bill Sales through Denial of Input Tax Credit on such sales 2. Tracking Sales Turnover for restriction on Tax Credit. ...

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New Due Dates for Filing of MVAT & CST Returns in Maharashtra

Goods and Services Tax - Much awaited Circular for Introduction of New Automation Process for Filing of MVAT and CST Returns has been issued under no. 22T of 2016 dated 26.08.2016 and accordingly Revised Scheduled for Filing of Returns from 01 April 2016 is also been announced...

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Billing Software, key to success of GST

Goods and Services Tax - GST system depends upon online matching of supplier GST liabilities with relevant input GST credit claims by receivers of goods or services. In my opinion, for having a seamless and easy system of matching credits, GSTN should provide for online generation of TAX INVOICES by suppliers, which will altogether eliminate need for data entry...

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Revised MVAT & CST Returns & C form application from April 2016

Goods and Services Tax - Maharashtra Sales Tax Department is making substantial changes in its automation processes relating to taxpayer interface, w.e.f F.Y 2016-17. This is expected to result into significantly more efficiency in the working of the Department, less errors due to minimum human intervention and maximum benefits in relation to time management....

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Recent Posts in "CA Mukund Abhyankar"

18 Immediate Points of Action before roll out date of GST

Articles deals with following issues related to GST which needs to be taken care of immediately before roll out date of GST 1. HSN /SAC Codes 2. Carry Forward of Cenvat / VAT Credit balance on Inputs / Input Services...

Read More

Using GST for checking menace of undisclosed sales & incomes

Following measures can be adopted to curb the practice of undisclosed turnovers in the GST law. 1. Discouraging Without Bill Sales through Denial of Input Tax Credit on such sales 2. Tracking Sales Turnover for restriction on Tax Credit. ...

Read More

New Due Dates for Filing of MVAT & CST Returns in Maharashtra

Much awaited Circular for Introduction of New Automation Process for Filing of MVAT and CST Returns has been issued under no. 22T of 2016 dated 26.08.2016 and accordingly Revised Scheduled for Filing of Returns from 01 April 2016 is also been announced...

Read More

Billing Software, key to success of GST

GST system depends upon online matching of supplier GST liabilities with relevant input GST credit claims by receivers of goods or services. In my opinion, for having a seamless and easy system of matching credits, GSTN should provide for online generation of TAX INVOICES by suppliers, which will altogether eliminate need for data entry...

Read More

Revised MVAT & CST Returns & C form application from April 2016

Maharashtra Sales Tax Department is making substantial changes in its automation processes relating to taxpayer interface, w.e.f F.Y 2016-17. This is expected to result into significantly more efficiency in the working of the Department, less errors due to minimum human intervention and maximum benefits in relation to time management....

Read More

Budget 2016: What it should aim to achieve?

Though Budget is not the only policy initiative available with the Government for making major contributions to economic progress, it has over the years assumed great importance as most comprehensive single declaration from the government every year about its policy intentions....

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30 FAQ’s on LBT Exemption in Maharashtra

Please find below a compilation of queries received by us in response to Notes related to LBT Exemption put up on our website along with related opinions from our side . While care has been taken to comprehend the issue alongside applicable legal provisions, it is submitted that considering the fact of frequent changes in LBT laws and lik...

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Clarification regarding determination of turnover for LBT in Maharashtra

In order to settle at rest confusion regarding meaning of Turnover for eligibility under LBT exemption, now a clarification has been issued by Urban Development Department (UDD) vide Notification No. LBT. 2015 / C.R. 42 / UD-32 dated 15 September 2015 in Maharashtra. The UDD has stated that the turnover of the dealer within the municipal ...

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Applicability of Turnover (Rs. 50 Cr.) based exemption from LBT

The Local Body Tax called as LBT was introduced in Maharashtra in April 2013, replacing Octroi for certain cities other than Mumbai. Maharashtra Provincial Municipal Corporations Act, 1949, is the Act under which levy of LBT is being made in certain municipal corporations....

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Levy of Entry Tax on certain Iron & steel goods in Maharashtra

While great activity being done by Central & Maharashtra State Government for the success of Make in India & Ease of doing business Initiatives, an unintended hardship seems to have been placed on manufacturers in Maharashtra through a Budget 2015-16 provision for levy of entry tax on iron and steel goods purchased from outside the Sta...

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