Goods and Services Tax - Page 860

MVAT Notification – Submission of Annexures by dealers not required to file audit report in form 704

Notification No.VAT/AMD-2011/1B/ADM-6 (04/02/2012)

Newly registered dealer shall submit the requisite annexures along with the last return for the said year i.e. alongwith the return for the period in which 31st March of that year occur. Whereas, the dealer whose business is discontinued, disposed off or transferred shall alongwith his last monthly, quarterly or six-monthly return submit ...

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Power Delegation Under Section 64 of MVAT Act 2002 – DC (A and R)/VAT/PWR(INV)/2006/3/Adm-6 Dated 04/02/2012

Notification No. DC(A & R)/VAT/PWR(INV)/2006/3/Adm-6 (04/02/2012)

In exercise of the powers conferred by sub-section (6) of section 10 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005) and in supersession of the order No. DC (A & R)/ VAT/PWR(INV)/2006/3/Adm-6 dated 9th August 2011, the Commissioner of Sales Tax, Maharashtra State, Mumbai, is hereby pleased to delegate the powers and duties ...

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Exemption scheme benefit not available as assessee fails to start production at its refinery during the qualifying period

State of Gujarat & Ors Vs Essar Oil Ltd. & Anr (Supreme Court of India)

State of Gujarat & Ors Vs Essar Oil Ltd. & Anr (Supreme Court) - This appeal is directed against the judgment of the High Court of Gujarat dated 22.04.2008 in Special Civil Application No.24233/2007, whereby the Respondent No. 1 herein, Essar Oil Limited (hereinafter 'Essar') was given the benefit of Sales Tax incentive under the Governme...

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MVAT – Additional List of Suspicious Dealers who has issued false bills without delivery of goods

Maharashtra Sales tax Department on its website hosted the List of Suspicious Dealers who has issued false bills without delivery of goods on its website. Sales Tax Department has first issued a list of 698 Dealers around a month back on 21.11.2011. Now the Sales tax Department has issued Additional List list of dealers who it is suspec...

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Maharashtra VAT – Extension of last date for filing of e-return & e-refunds application

Trade Circular No. 2 T of 2012 (24/01/2012)

The Internet Service Provider for website of the Maharashtra Sales Tax department is M/s Airtel Major fire broke out in one of the network centers of the said service provider on 27.12.2011. Due to the fire, the web site was not available through internet from 27/12/2011 to 30/12/2011. ...

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Maharashtra – e-payment of Profession Tax

Trade Circular. 1 T of 2012 (11/01/2012)

The dealers under the MVAT Act 2002 and the CST Act 1956 are successfully using the facility of filing electronic returns and making e payments on the web site of Maharashtra Sales Tax department (MSTD) This facility was to be provided to the profession tax registration certificate holders (PTRC) and the profession tax...

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Sales Tax – Penalty can not be cancelled just because same been levied against the owner of the vehicle and not against the person in-charge of the vehicle

ACTO Vs Romesh Power Products P. Ltd. (Supreme Court of India)

High Court was not justified in observing that since the been levied only against the owner of the vehicle and not against the person in-charge of the vehicle and, therefore, the judgment of the High Court cannot be sustained. ACTO Vs. Romesh Power Products P. Ltd. (Supreme Court) ...

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Profession Tax – States wants increase in Upper limit of Rs 2,500

The Empowered Committee of State Finance Ministers here today demanded that the upper limit on levying the professional tax be removed. The panel after deliberating on the issue of professional tax came to the conclusion that the upper limit of Rs 2,500 imposed by the Constitution in 1988 should be waived [removed] forever,...

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GST – State FMs agrees to concept of services tax based on the ‘negative list’

The Empowered Committee of State''s Finance Ministers on GST today agreed in principle to the concept of services tax based on the 'negative list' and suggested that the Centre could prepare such a list which would help widen the tax base. The committee headed by Deputy Chief Minister of Bihar Sushi Kumar Modi met here today to deliberate...

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E-filing of tax returns – Court cannot order that rule should be applied retrospectively, though E-filing should be encouraged

Hindustan Zinc Ltd. Vs. State of Rajasthan and Anr. (Rajasthan High Court)

Hindustan Zinc Ltd. Vs. State of Rajasthan and anr. (Jodhpur High Court) - Court is of the opinion that even though in the era of E-filing of the returns under the various laws, such a practice deserves to be encouraged and is acceptable form of filing of returns to the various Tax Department, it is admitted position before this Court th...

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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.

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