In this article the implications of a latest amendment in the Punjab VAT Act, 2005 are analysed, whereby system of single point of taxation has been introduced in respect of certain goods by two notifications dated 13.12.2013, applicable w.e.f 01-01-2014.
Reverse Charge Mechanism – Normally, service tax is payable by person who provides the service. Section 68(2) makes provision for reverse charge i.e. making person receiving the service liable to pay tax. Authority for reverse charge u/s 68(2) of Finance Act, 1994
Under Section 10 (1) of the DVAT Act, 2004 where any purchaser has been issued with a credit note or debit note in terms of section 51 of this Act or if he returns or rejects goods purchased, as a consequence of which the tax credit claimed by him in any tax period in respect of which the purchase of goods relates,
Special Auditor should always mention the name of the dealer, along with its TIN, whose accounts are to be audited and the period of Audit in the covering letter in all communications made in respect of that dealer.
Revenue from service tax has grown by over 300 times in past two decades. According to provisional figures the revenue from service tax touched about 1.32 lakh crore rupees in 2012-13, compared to 407 crore rupees earned in 1994-95, when service tax was introduced.
The intent behind this write-up is to discuss the intricacies of several seemingly inconsistent judgements which have made the matter of availing trade discount a discounting issue in itself.
Free supplies provided by service recipient to service provider for use in provision of service shall not be considered in the ambit of gross amount charged as contained in notification 15/2004 including the explanation thereto as introduced by Notification No. 4/2005-ST.
Having my morning tea and just as today it has sunk in that the Little Master from India has retired now from all forms of cricket could not resist myself from writing this blog about the qualities that he has portrayed for last 24 years in his personal and professional career.
Cenvat Credit is always subjected to many queries, restrictions and ambiguities regarding its eligibility on both the legal and documentary (physical) end. In such a Scenario it becomes essential to understand the conceptual framework before establishing the eligibility of Proper Cenvat Document.
Agreements are the essential of our day to day life. We need to draft various agreements for different matters. Suppose, we are purchasing a home or renting a home, doing any business, the agreement is required after every step.
