Goods and Services Tax - Page 960

Maharashtra VAT – Refund Of Security Deposit Made During Registration

1. Presently, deposit of Rs. 25,000 made at the time of registration is allowed to be adjusted against tax liability of the period in which registration was granted and in the subsequent year. 2. From 1 May 2011 such adjustment will not be allowed and the dealer is required to file claim for refund of such deposit....

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Powers of Inspection, Search & Seizure under Punjab VAT Act, 2005

Power of inspection, search, and seizure can be easily found to be in every taxation law. The purpose of these powers is always to detect any tax evasion on the part of dealers but these powers are always ancillary to the power of collection of tax of the State and are provided only for the proper collection of tax. While exercising these...

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MVAT- Delegation of powers under section 64 (36) and (4) to Deputy Commissioner of Sales Tax , Mum-VAT-E-610

Notification No. DC(A&R)/VAT/PWR(INV)/2006/3/AMD-6 (09/08/2011)

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), the Commissioner of Sales Tax, Maharashtra State, Mumbai, is hereby pleased to delegate the powers and duties under sub-sections (3) and (4) of section 64 of the Maharashtra Value Added Tax Act, 2002 and rul...

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States FMs panel on GST to meet on Aug 19

Empowered Committee of State Finance Ministers on GST, under its new chief Sushil Modi, will meet on August 19 to discuss various issues related with the roll out of the ambitious indirect tax regime....

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PT Circular 12T of 2011 on Relief in Profession Tax to Mathadi Mandal, Mathadi kamgar etc in Maharashtra

PT Circular No. 12 T of 2011 (03/08/2011)

PT Circular 12T of 2011 on Relief in Profession Tax to Mathadi Mandal, Mathadi kamgar etc. ...

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Maharashtra VAT – Additional Instructions for Filling Annexures to Form 704

1. In annexure-J section-1 (supplement), enter details of Customerwise Local sales in Maharashtra state. Please enter dealerwise sale. Do not enter transition wise sale. 2. In annexure-J section-2 (supplement), enter details of Supplierwise Local purchase in Maharashtra state. Please enter dealerwise purchase. Do not enter transition wise...

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MVAT- Addition of new Banks as Govt. Treasury – Can Receive MVAT Payment

Notification No.VAT. 1511/ C.R. 94/ Taxation-1 (22/07/2011)

In pursuance of the powers conferred by entry (iv) of sub-clause (i), entry (vi) of para (A) and entry (iv) of para (B) of sub-clause (ii) of clause (f) of sub-rule (1) of rule 2 of the Maharashtra Value Added Tax Rules, 2005, the Government of Maharashtra, after consultation with the Reserve Bank of India, hereby notifies all the branche...

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MVAT- Mandetory e-return for PTRC holders from 01.08.2011

Notification No. VAT/AMD.1010/IB/PT/Adm-6 (14/07/2011)

In exercise of the powers conferred by section 7A of the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Mah. XVI of 1975), the Commissioner of Profession Tax, Maharashtra State hereby provides with effect from 1st August 2011....

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Think twice before choosing Lump sum payment of tax in Works contracts under PVAT Act

If you want to choose lump sum scheme for payment of tax in works contracts without maintaining any books of accounts under Punjab VAT Act, 2005, you should think twice before choosing it. Proviso to section 8(2-A) of Punjab VAT Act and Rule 15(6) of Punjab VAT Rules deals with the lump sum payment of tax under Punjab VAT in works contra...

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MVAT – Extention of Due Date for Payment of PTEC for 2011-2012

Notification No. PFT/2011/Adm-29/NTF (13/07/2011)

In Exercise of the powers conferred under clause (a) of sub-section (2) of section 8 of the Maharashtra Tax on Professions, Trades, Callings And Employments Act, 1975 (Mah. XVI of 1975) (hereinafter referred to as "the said Act"), the Commissioner of Profession Tax, Maharashtra State, Mumbai, hereby specifies the due date of tax payable f...

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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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