Recently Haryana VAT department has released a circular which might be of interest to the developers & builders across the state and conducting operations in Haryana. The Circular is No. 152/ST-1 dated 7th May, 2013 wherein several aspects in regard to taxability of civil works contracts/ builders and developers are clarified by the department.
Yes that’s how the Central Excise clarifies it, much to the relief of Sedan car manufacturers in its recent Circular No. 972/06/2013.CX dated 24th July, 2013. The issue gains significance from the fact that notification No. 12/2013-Central Excise dated 1st March, 2013 (vide Budget 2013-14) introduced a higher level of excise duty i.e. at the rate of 30% on motor vehicles of engine capacity exceeding 1500 cc,
NEW REGIME RESTRUCTURED FOR IRON & STEEL INDUSTRY UNDER THE PUNJAB VAT ACT 2005 LIKELY TO BE INTRODUCED FROM 01 FEB 2014 Punjab Government has announced to slash VAT rate on Scrap (Melting & Rolling), ingots, billets, blooms or other semi finished goods, finished goods, interstate sales to 2.5% from 4.95% with surcharge of 10% […]
The Punjab Government has introduced the new tax i.e. Advance Tax by making an amendment in the Punjab Value Added Tax Act, 2005 on the import of the certain goods in the State of Punjab. The advance tax is attracted on 30 items the list of the same is enclosed for your kind reference as earlier entry tax was attracted on 26 items but by introduction of advance tax,
The Wine covered by entry 3A of Schedule D of the Maharashtra Value Added Tax Act, 2002, is purchased from the registered dealers within State and tax is paid or has become payable on purchase of Wine at an earlier stage.
Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005, and to dispense with the condition of previous publication thereof under the proviso to sub-section (4) of section 83 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005).
3B. Wine when sold in bulk and where provisions of the Maharashtra. Potable Liquor (Fixation of Maximum Retail Prices) Rules, 1996 are not applicable. 20%
Schedule I provides for exemption in respect of sales of aforesaid goods where such goods are purchased on or after the 1st January 2014, whereas Schedule II provides for exemption in respect of sales of aforesaid goods which were purchased on or before the 31st December 2013.
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to.
Candidates appearing in Foundation Examination for Dec’13 term are strictly advised to report at the respective examination centres at least one hour before the commencement of the examination i.e. at 9:00am for morning session and 1pm for afternoon session. Any candidate reporting later than the above time will not be allowed to appear the examination. […]
