Goods and Services Tax - Page 802

Lump sum sales tax on brick klin owners on the basis of production capacity unconstitutional

Punjab & Haryana High Court in M/s Balaji Bricks Industries & Another v State of Punjab [VSTI 2012 P&H B-238] has held that lump sum scheme for payment of sales tax on the basis of production capacity of Brick Klin owners is ultra vires of Article 246 read with Entry 54, List-II-State List of Seventh […]...

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MVAT Notification for TDS for Societies registered under Societies Registration Act, 1860

Notification No. JC (HQ)1/ VAT/2005/97 (30/04/2012)

In exercise of the powers conferred by sub-clause (i) of clause (b) of Sub section (1) of section 31 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State, Mumbai, hereby, amend the Notification No. JC (HQ)1/ VAT/2005/97, dated 29th August 2005 with effect from 1st June 2012 as fo...

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FAQ on Profession Tax (PT) in Maharashtra

Who is liable to pay Profession Tax?Every person engaged actively or otherwise in any profession, trade, callings or employment and falling under one or the other of the classes mentioned in the second column of Schedule I appended to Profession Tax Act, is liable to pay Profession Tax....

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All about High Seas Sales

Please explain sale in course of import by transfer of documents of title to goods before the goods crosses Custom Frontiers of India ((High Seas Sale) with special reference to when the goods crosses Custom Frontiers of India....

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DVAT- No more half yearly/yearly returns, compulsory on line 2A/2B

No.F. 3(27)/Fin(Rev-I)/2011-12/17511/353 (25/04/2012)

Delhi Value Added Tax - Notification for change in tax period wef F.Y. 2012-13. No more half yearly/yearly returns, compulsory on line 2A/2B...

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MVAT Notification regarding entry C-12 -Bidy & D-12

Notification No.VAT.1512/CR-55/ Taxation-1 (25/04/2012)

In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby with effect from the 1st May 2012, amends SCHEDULES C and D appended to the said Act, as follows, namely....

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Punjab VAT Dept, launches drive to survey unregistered dealers liable to be registered

Excise and Taxation Department, Punjab has launched a special drive for finding out the unregistered dealers by way of survey u/s 48 of Punjab VAT Act, 2005, who are eligible for registration under Punjab VAT Act but may not have registered as yet. ...

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MVAT – Submission of annexures by dealers who are not required to file Audit Report in Form 704

Trade Cir. No. 7T of 2012 (24/04/2012)

Trade Cir. No. 7T of 2012 This office is in receipt of various representations from the Trade and Associations. These representations with other queries also seek clarification with regards to the submission of Annexures by dealers covered under composition scheme in terms of Notification cited at Ref. 1 and 2 above. The issues have been...

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Study Team to suggest Common Tax Code for Service Tax & Excise

The Study Team will examine the feasibility and also suggest a draft Common Tax Code for service tax and central excise that can be implemented under the present Constitutional scheme, keeping in view the challenges in the context of impending Goods and Service Tax (GST). The Study Team has also been directed to address issues relating to...

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MVAT – Carry forward of refund upto Rs.1 lakh for the F.Y. 2011-12 to F.Y. 2012-13

Trade Circular No. 6 T of 2012 (21/04/2012)

In view of the above, it is decided on the administrative grounds to allow carry forward of the refund claim upto rupees one lakh for the return period ending March-2012 to the first return of the next financial year i.e. 2012-13. In case, any dealer, who has already filed the claim of refund, for the period/ periods of 2011-12 in Form-50...

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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.