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Contractee liable to deduct and Pay TDS on Works contract despite possible refund claim by contractor

  25 Feb 2015   0 comment
Krishnapatnam Port Company Ltd. Vs. The Govt. of AP
The fact that NECL could seek refund of the tax paid as per the State Government Order G.O.Ms. No. 609 dated May 29, 2006, issued in terms of Section 15(1) of the AP VAT Act, will not absolve KPCL of their statutory obligation to deduct TDS;...

Guide to Grant of Refund under MVAT Act

  23 Feb 2015   2 comments
After introduction of VAT, a large quantum of refund application have been filled. The Department under going transition due to which business process have undergone many changes. As result, a number of circular were issued from time to time to lay down the procedure for the granting of refund. As a further step towards E-Governance, the ...

Delhi Value Added Tax – Legal & Procedural Relaxations Expected

  22 Feb 2015   0 comment
Delhi Value added tax simplification has been one of major agendas of all state governments. It has been largely felt and outlined that procedural relaxation is a must to ensure smooth trade in the city or outside. At the same time it is well understood that blanket relaxations would have the other side of the coin also and can lead to un...

Input Credit mechanism under proposed GST regime-The milestone to achieve

  22 Feb 2015   0 comment
Before I begin this article it is worthwhile to discuss the background behind this since as of today no professional as well dealer is sure about the consequences of proposed GST legislation. There is General perception among professional and society that GST will remove cascading effect, make administration simple and system will become ...

E-1 Sale – Benefits and Provisions for claiming exemption

  17 Feb 2015   1 comment
What is E-1 Sale? How does it benefit registered dealers? What are the provisions to be followed for claiming exemption? When sale is during the course of movement of goods from one state to another is called E-I transaction or sale in transit. ...

Printing work is in the nature of Works contract and value of ink and processing material is exigible to Sales tax

  17 Feb 2015   2 comments
Vibha Publications Pvt. Ltd. Vs. Commissioner, Trade Tax, UP. Lucknow [2015 (2) TMI 431 - ALLAHABAD HIGH COURT]
Vibha Publications Pvt. Ltd. (Appellant) was engaged in job work of printing material. In the printing process, the plates, chemicals and ink (Impugned Goods) were consumed. The Revenue contended that the value of Impugned Goods consumed in printing process is exigible to Sales tax....

SC upholds levy of Sales tax on processing / supplying of photographs

  12 Feb 2015   0 comment
State of Karnataka Etc Vs. Pro LAB and Ors[2015-TIOL-08-SC-CT-LB]
Entry 25 of Schedule VI of Karnataka Sales Tax Act, 1957 (Entry 25) was inserted vide an amendment in July 1, 1989 thereby providing for levy of Sales tax for processing and supply of photographs, photo prints and photo negatives....

Input Tax Credit reversal on export sales without form W under TNVAT Act, 2006

  07 Feb 2015   17 comments
Under TNVAT Act, 2006 there are two options available for the dealer in case of export sales to claim the ITC for which the dealer has paid VAT on his purchases for the raw materials, packing materials and other inputs used as laid down under Section 18 (3) of the TNVAT Act. ...

Processing & Supplying of Photographs liable to Sales Tax– SC

  02 Feb 2015   0 comment
Hon’ble Supreme Court in the case of State of Karnataka etc. vs. M/s. Pro Lab & Others in Civil Appeal No. 1145 of 2006 decided on January 30, 2015 upholds the levy of sales tax on Processing and supplying of Photographs, Photo Prints and Photo negatives retrospectively with effect from 01.07.1989....

Brief on Goods and Service Tax (GST)

  02 Feb 2015   4 comments
What is Goods and Service Tax (GST) GST is a destination based tax levied on supply of goods and services Proposed Dual GST in India is to be levied concurrently by states and central government on a common tax base It will be levied on all stages of the supply chain till the final sale […]...

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