Goods and Services Tax - Page 1319

MVAT – Electronic Filing of Audit Report in Form -704

Trade Circular No. 27 T of 2009 (01/10/2009)

Any dealer who files Audit Report on or after 1st October 2009 for any period shall file the same in the new Form-704. Now, it is mandatory for all the dealers who are required to get their books of account audited as per the provisions of the section 61 of the MVAT Act, 2002 to file Audit Report in Form-704 electronically....

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MVAT circular on Periodicity of return filing for the period 01.04.09 to 31.03.10

Trade Circular No.26 T of 2009 (01/10/2009)

Nothing in this paragraph shall apply to the said registered dealer unless he applies to the Joint Commissioner of Sales Tax (Returns), in Mumbai or as the case may be Joint Commissioner of Sales Tax (VAT Administration) in rest of the State....

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Instructions for filing of from no. 704 related to MVAT audit and download form 704

Instructions for filing of e-704 1)      It is necessary to use the downloaded form e 704 as is available on the web 2)      There are few easy steps for filing of e 704 First login to Click on the menu “Downloads” Select Form e 704 from the menu...

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E-filing of Sales tax returns been challenged in Kerala High Court

A writ petition challenging the decision of the State Government to implement e-filing of sales tax returns by dealers with effect from September 1 has been filed the Kerala High Court. The court on Tuesday adjourned hearing on the petition. The petitioner, Mr M.K. Haridas, who is the Manager of a Kochi-based partnership firm, submitted ...

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

Trade circular No:- 25T of 2009 (25/09/2009)

TRADE CIRCULAR Date: 25th Sept, 2009 NO. MVAT/ Registration / e-101 Mumbai, Trade circular No:- 25T of 2009 Subject: – Procedure for on line submission of application for obtaining registration under the MVAT Act, 2002 Ref: – Notification no. VAT/AMD-1009/ IB/Adm-6, dated 26 August 2009 Gentlemen/Sir/ Madam, Present Procedure:...

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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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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.