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Goods and Services Tax : The article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns ...
Goods and Services Tax : This article discusses GST compliance for service providers eligible for the QRMP scheme up to ₹5 crore turnover. It clarifies w...
Goods and Services Tax : The article discusses how GST authorities are increasingly reversing ITC based on upstream NGTP allegations without proving fraud ...
Goods and Services Tax : The article explains common objections raised during GST departmental audits under Section 65, including ITC mismatches, GSTR reco...
Goods and Services Tax : The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It s...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Persistent technical issues prevented users from accessing the portal and completing filings. The representation seeks urgent fixe...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : The Bombay High Court held that rejection of a manual GST appeal was unsustainable where DRC-07 was not available on the GST porta...
Goods and Services Tax : Gauhati High Court held that cancellation of GST registration without assigning reasons in FORM GST REG-19 was illegal and violate...
Goods and Services Tax : Bombay High Court held that GST proceedings initiated against a company that had ceased to exist after amalgamation were void ab i...
Goods and Services Tax : Bombay High Court observed that payments made while search proceedings are continuing may not automatically qualify as voluntary d...
Goods and Services Tax : The Kerala AAR held that advance ruling applications cannot be based on hypothetical scenarios or academic questions. The Authorit...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
No Input Tax Credit claim shall be allowed unless the corresponding tax is paid by the selling dealer into the Government treasury. In the case of mismatch in the sales and purchases in electronic matching of annexure Jl and J2 of form 704, then to the extent of unmatched amount of tax, the ITC of the claimant dealer shall be denied.ITC claim shall not be allowed if the purchases are effected from hawala dealer and even though such hawala dealer has paid the taxes partially or fully as these are not genuine transactions.
This ready reckoner is prepared with the aim to present the changes in Punjab Value Added Tax Act, 2005 at one place. Ready reckoner is divided in to different parts containing the general information, tax calendar, Procedure of Registration, Input tax Credit, Works Contract, Refund, Appeal, Assessment, Revision, Entry Tax, Interest, Penalties and other vital information like forms, fees, time limits under the Punjab Value Added Tax Act, 2005.
Various time limits under Punjab VAT Act, 2005 for example time for filing returns, applying registration, payment of taxes etc. Particulars Rule/ Section Time Application for registration in Form VAT-1 S21, 22, R3,4,5 Within 30 days when such person liable to pay tax Issue of the Registration Certificate R5(1), S21 Within 30 days of application […]
Herebelow is the chart showing various fee payable under Punjab VAT Act, 2005 along with the relevant sections and rules of Punjab VAT Act and Punjab VAT Rules, 2005. Particulars Section Rule Fee Amount (Rs.) VAT or TOT Registration 21,22 3 2000 Issue of duplicate Registration Certificate 21,22 6 100 Cancellation of Registration Certificate 24 […]
Herebelow is the chart showing simple interest leviable on the amount of tax in case of delayed payment of tax under Punjab VAT Act, 2005 under section 32 and section 27(7).It should be noted that such simple interest is not a penal interest and is payable without any requirement of show cause notice and has to be paid along with the delayed payment of tax.
Herebelow we are sharing a complete chart showing the penalties under Punjab VAT Act, 2005 for the benefit of all readers. Offence Penalty (In addition to tax and interest) Section Failure to Register An Amount equal to Tax due 52, 21 Failure to Pay tax when due A Sum @ 2% per month on tax […]
Section 6A of CST Act, 1956 provides that if a dealer claims that he is not liable to pay CST on an interstate movement of goods due to the reason that it is not sale and the goods have been transferred inter-state to any other place of his business or to his agent or principal, then he will have to produce a prescribed form i.e Form F to his assessing authority duly signed by the principal officer of his other place of business or his agent or principal as the case may be.
Works contract is a deemed sale which involves the transfer of property in goods (whether as goods or in any other form) involved in the execution of the works contract. The concept of taxation of goods transferred during the execution of works contract has been a matter of great litigation over the period.
The impugned show cause notice dated 02.02.2010 could not have been issued under Section 46 of the Delhi Sales Tax Act, 1975. However, even if it is assumed that the impugned show cause notice was issued in exercise of the powers of revision under Section 74A of the DVAT Act, the period of limitation would be that which was in vogue when the said notice was issued. The period of limitation that would apply would, therefore, be the one prescribed under Section 74A(2)(b) of the DVAT Act. And, that being the case, as we have mentioned above, the impugned show cause notice dated 02.02.2010 is barred by time.
Government of Maharashtra hereby specify that, with effect from the 1st July 2012, every employer holding Profession Tax Registration Certificate shall pay tax, interest, penalty or any amount due and payable by or under the said Act, electronically in the manner as specified in the said rule 45A.
