Goods and Services Tax : The Court held that a genuine buyer cannot lose ITC merely because the seller failed to deposit tax. The key takeaway is that liab...
Goods and Services Tax : SC ruled a bona fide buyer cannot be denied ITC under DVAT Act if seller defaults on depositing tax. The remedy is against default...
Goods and Services Tax : The Supreme Court affirmed that an innocent buyer cannot be denied ITC solely due to the seller's failure to remit tax or file ret...
Goods and Services Tax : High Court of Delhi held Section 9(2)(g) of Delhi VAT Act to the extent it disallows Input tax credit to purchaser due to default ...
Income Tax : Application for allotment of Permanent Account Number(PAN) will be filed in SPICe (INC-32) form using Digital Signature of the app...
Goods and Services Tax : Department has decided to hire services of an experienced agency, for collecting, processing and creating electronic database in ...
Goods and Services Tax : The India International Trade Fair (IITF) shall be held from 14-11-2015 to 27-112015 at Pragati Maidan, New Delhi. Registered de...
Goods and Services Tax : It has been decided to introduce a reward scheme for informers providing vital inputs in order to check and detect value added tax...
Goods and Services Tax : As per the section 48 and Rules 42 & 19 of Delhi VAT Act & Rules, you are also required to maintain and retain prescribed records ...
Goods and Services Tax : Buy goods from a trusted seller who files return and thereby pays due tax collected from you. Mere 2B statement filing by selling ...
Goods and Services Tax : SC ordered Department to comply with High Court directions and issue C-Forms and F-Forms after verification of indemnity bonds, le...
Goods and Services Tax : Delhi High Court permitted petitioner to rectify DVAT returns for first quarter of 2013-14 by filing revised return for said perio...
Goods and Services Tax : Delhi High Court rules bona fide purchasers cannot be denied Input Tax Credit due to seller's tax default; cites Article 14....
Goods and Services Tax : Delhi High Court examines constitutional validity of DVAT Act Section 9(2)(g), impacting Input Tax Credit claims due to selling de...
Goods and Services Tax : Delhi High Court rules Section 9(2)(g) of DVAT Act unconstitutional, asserting it violates rights by denying input tax credit to b...
Goods and Services Tax : Discover how the Department of Trade and Taxes in Delhi addresses concerns raised by the Sales Tax Bar Association regarding recti...
Goods and Services Tax : Get insights into the Government of National Capital Territory of Delhi's Department of Trade and Taxes' latest policy instruction...
Goods and Services Tax : Concerned GST refund sanctioning authority shall ensure that all GST refund applications are processed and decided within the pres...
Goods and Services Tax : under Section 54 of the DGST Act, 2017, taxpayer can claim the refund of any payment and interest before the expiry of two years f...
Goods and Services Tax : It has recently come to notice that, An account was de-freezed on the basis of the letter signed by the Ward In-charge, whereas it...
It is to inform that, the dealers, while applying for new registration with the Department of Trade & Taxes, are required to provide the details of the main bank account as a mandatory provision.
The Department intends to frame the assessment of all registered dealers for the third and fourth Quarter 2012-13 tax-periods on the basis of mismatch in the online data as on 31/10/2013 filed by the dealers in Annexure 2A and 2B of their return.
The Department has high expectation from the CA community and the CAs are advised to carry out the VAT Audit and Special Audit with strict reference to the relevant legal provisions, and complete the work timely. The panel for Special Audit will be reviewed each year based on the quality and the timeliness of the reports.
1. Details of sales made against C/H/I/E1/E2/J forms will be submitted quarter wise and details of sales made against F forms will be submitted month wise by the dealers in the online Refund Claim Form through their login.
Where assessment order has NOT been issued, the declarant (including trader, manufacturer, contractor, builder, leasing company, etc.) shall pay only declared tax (for the period up to 31.03.2013); and get immunity from interest, penalty and prosecution. Circumstances, such as,-
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.
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 contracts to be executed by him in that financial year.
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.
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.
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.
