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Salient Features of Recent Amendments in DVAT Rules

1. Amendment of Rule 3: (i) To address the various queries and difficulties of the works contract dealers, including builders, the rule has been suitably amended to clarify how taxable turnover shall be calculated and what all deductions could be made from turnover....

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Salient/Additional Features of Revised Composition Scheme for Work Contract Dealers

Normally a works contractor can opt for the composition scheme till April 30 of a financial year but in 2013-14, he can again do so for third and fourth quarter by filing Form WC-01 till October 31, 2013. The Composition dealer shall be eligible to opt for only one of the scheme i.e. Scheme A or Scheme B for all categories of works contra...

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Delhi VAT : Salient Features of Recent Amendments in DVAT Act

1. Amnesty Scheme: The Government allowed to bring an amnesty scheme (under section 107) for all tax dues, including for sales tax cases, for period upto 31.3.13. This will allow dealers to pay tax voluntarily and get relief from interest and penalty and criminal prosecution....

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Amendments in the Composition Scheme for Works Contract Dealers under Delhi VAT

The composition scheme, notified vide No. 3(13)/Fin.(rev-1)/2012-13/dsvi/180 dated 28.2.2013 (effective from 1.4.2013), issued u/s 16(12) of the DVAT Act for works contract dealers has been modified vide present notification....

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Delhi Vat On Builders Collaboration Agreements

Where the property is booked by the intended purchaser at the time of commencement of the project and the builder is paying VAT (as applicable) on its entire revenue, there would be minimum complexity. ...

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Haryana VAT on Joint Development Agreements – Implications

With the issuance of couple of circulars in May’13 and June’13 by the Haryana VAT Department recently, clarifying certain aspects on VAT on builders’ projects, this branch of indirect tax has been activated on these builders’ projects....

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DVAT – Effective Tax Rate Tax on Certain Works Contract Activities Reduced

For the purpose of computation of taxable turnover in works contracts: Where amount of labour, services and other like charges is not ascertainable from the books of accounts of the dealer (being works contractor) or where he fails to produce documentary evidence in support of such charges, the amount of such charges shall be calculated o...

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F form under CST Act can cover transactions of a period more than one month

Calcutta High Court in Cipla Limited vs Deputy Commissioner, Commercial Tax reported as VSTI 2013 Vol. 17 B-509 has held that There is nothing in Rule 12(5) of CST (R&T) Rules which could be construed to vitiate a declaration form i.e “F” form on a ground that such declaration form covered transactions for a period [&helli...

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FAQ on Delhi VAT Amnesty Scheme

Notification No.F.3(16)/Fin.(Rev-I)/2013-14/dsVI/786 (20/09/2013)  

Delhi Tax Compliance Achievement Scheme, 2013 (DCS) - FAQs - The Scheme is notified to Tax dispute related to Delhi Value added tax pending in various court and to provide an opportunity to defaulting dealers to achieve self compliance....

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Revision of Processing Fee under Punjab Value Added Tax Act, 2005

Punjab Excise & Taxation Department has revised the amount of processing fee leviable under rule 40-A of the Punjab VAT Rules, 2005. The detail of the same is as under :- “Rule 40-A. Annual processing fee.- Every taxable person, shall pay annual processing fee, as specified in the Table given below, in the month of […]...

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