Sale made to CSD is Tax free and sale made by CSD is taxable. Change in Rate of Tax on shoes including moulded plastic footwear, hawai chappals and straps thereof, plastic footwear and hand crafted footwear. Now brick kiln owners are liable to pay double tax on the determined slabs....

Excise & taxation Department, Punjab has levied processing fee of Rs. 800 on every taxable dealer (i.e Person having VAT registration) in Punjab under a new Rule 40-A of Punjab VAT Rules, 2005. This rule provides as under:...

The rate of Tax on declared goods as mentioned in Schedule C-1 has been increased from 4% to 4.5% plus Additional Tax @ 10% and net effect from 03-09-2012 will be 4.95%. It is pertinent to clarify that on wheat, paddy and rice, there is no change in the rate of Tax w.e.f 03-09-2012 and the previous rate of Tax i.e. 5% will prevail, reaso...

In the Budget for 2012-13, the Hon. Finance Minister has proposed levy of tax on furnishing cloth/fabrics at last point of sale. In connection with above, the Government of Maharashtra has issued Notifications dated 27.8.2012 imposing tax on various furnishing cloth/fabrics items. The short gist of such notification is as under: ...

Punjab Govt. through Public Notice dated 02-09-2012 has increased the rate of tax w.e.f 03-09-2012. Effects of this Public Notice are as under: -1. Sugar: - The state Government is pleased to waive tax on Sugar w.e.f 03-09-2012.2. Increase in the rate of tax by 0.5% under the Punjab VAT Act 2005 w.e.f 03-09-2012. Which resulted in increa...

Much has been discussed on recent issue about Suspicious Dealers, but rarely has someone analysed Whether Purchases made from such Suspicious Dealers should actually form part of Purchases while preparing Financials. The last updated List of 1277 Suspicious Dealers who has issued false bills without delivery of goods is displayed on Websi...

The Government of Maharashtra has amended the definition of Sale under the Maharashtra Value Added Tax Act, 2002 with effect from 20th June 2006 thereby including in the said definition the transfer of property in goods involved in the execution of works contract, including an agreement for carrying out for cash or for deferred payment o...

Excise and Taxation Department, Punjab has made it mandatory to furnish information regarding intra-state movement of goods (within Punjab) by all persons making sales of Rs. 3 Lakh or above in a single transaction except in the case of Iron and Steel where this threshold shall be Rs. 2 Lakh instead of Rs. 3 Lakh and above. ...

Sales tax / VAT is either payable on sales of goods or on deemed sales within the meaning of Article 366(29A)(b) of the Constitution on the value of goods transferred in the execution of a works contract. To constitute a works contract, there should be two parties to the contract which should be for construction of Flats, etc on behalf of...

Admitting while not accepting that the State of Maharashtra can levy tax on such a transaction, will our members get the credit of input tax paid while effecting purchases of materials like cement, iron 86 steel etc. required to be used in the Construction project. The members would pay the tax under the MVAT Act as the applicable rate of...