Sales Tax

E-Payment of Maharashtra Value Added Tax (MVAT) – FAQs

Goods and Services Tax - Which category of the dealers are required to make e-payment compulsorily for VAT, CST & PTRC? Is it mandatory to pay sales tax online?...

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Sale in course of import for Leasing Transactions: CST

Goods and Services Tax - In a recently pronounced judgment in the case of Hewlett Packard Financial Services vs The State of Karnataka, The Deputy Commissioner of Commercial Taxes (Audit) (‘Revenue’), the Karnataka High Court dealt with the issue relating to entitlement of VAT exemption by virtue of Section 5(2) of the Central Sales Tax Act, 1956 (‘CST Act...

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FAQs on MVAT Audit Report in Form 704

Goods and Services Tax - What is Audit Report in Form 704? Ans : It is a report under section 61 of MVAT ACT, 2002 to be submitted by eligible dealer within 10 months of the end of a particular financial year....

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Penultimate Export Sale and Tax Exemption under CST ACT, 1956

Goods and Services Tax - The Central Government’s policy is, when exports are made, only products or services are to be exported and not taxes. Therefore when tax exemption is available for direct export for the exporters, the sale prior to export i.e Penultimate sale also is considered for tax exemption by the Government. ...

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Sales Tax C, E & F Forms Demystified

Goods and Services Tax - There are certain type of forms which has been prescribed under central sales tax rules 1957, form C for making interstate purchase at lower rate, form F used to transfer goods from one branch to other in different state without making it as sale form E1 and E2 used when interstate sale or purchase which are effected by mere transfer of d...

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Sales tax evasion racket in Mumbai used hawala bills to save tax on transactions worth Rs 700 crore

Goods and Services Tax - A tax evasion racket involving over 400 firms, most of which are based in the city, has come to light. The state sales tax department, which busted the racket, claimed that its initial assessment showed that the racket involved transactions worth Rs ...

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SC to HAL and Karnataka govt – Resolve Rs 1,519 Cr. Sales tax dispute

Goods and Services Tax - The Supreme Court today directed the Defence Ministry and the Karnataka government to meet and resolve their dispute over Rs 1,519 crore sales tax on defence contracts executed by Hindustan Aeronautics Ltd (HAL)....

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28 establishments under scanner to detect evasion of sales and value-added tax

Goods and Services Tax - UT vigilance department recently put 28 establishments under scanner to detect evasion of sales and value-added tax. This was accompanied by attempts at catching income tax evaders among multinational companies. The establishments being looked at in ...

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PIL alleges Sales Tax scam of over Rs 100 crore

Goods and Services Tax - The Bombay High Court has asked Maharashtra government's Principal Secretary (Finance) to file an affidavit by October 8 in reply to a PIL alleging scam in refund of Sales Tax to the tune of crores of rupees in Palghar division in nearby Thane distri...

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SC to decide soon on levy of sales tax on incidental charges like transportation, packaging, labour etc.

Goods and Services Tax - The Supreme Court will soon decide whether sales tax is to be levied on the incidental charges like transportation, packaging and labour incurred by Food Corporation of India (FCI) on purchase of foodgrains for the state machinery including contingen...

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C Form Cannot Be Refused To be Issued On Arrears of Tax

Sri Rajeswari Agencies Vs. Additional Deputy Commercial Tax Officer II (Madras High Court) - Sri Rajeswari Agencies V. Additional Deputy Commercial Tax Officer II, Sales Tax – Declaration Forms – Arrears Of Tax - C Form Cannot Be Refused To Be Issued On Ground Of Arrears Of Tax – Central Sales Tax Act (74 Of 1956), S. 9(2) – Central Sales Tax (Registration And Turnover) Rules, 1957...

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Prepayment of sales tax deferral loan on payment of net present value of future liability cannot be classified as remission

Sulzer India Ltd. Vs. Jt. CIT (ITAT Mumbai) - In a recent ruling, in the case of Sulzer India Ltd. v. Jt. CIT [2010-TIOL-670-ITAT-MUM-SB] , the Special Bench of the Mumbai Income-tax Appellate Tribunal (the "Tribunal") held that prepayment of deferred sales tax liability on the Net Present Value...

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Corruption on high, nothing moves without money- Supreme Court

Stating that “nothing moves without money”, the Supreme Court has expressed concern over the growing corruption in government machinery, particularly in the Income Tax, Sales Tax and Excise departments. ...

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Even if it is assumed that the assessee was authorized to collect sales tax and retain with it, the same will be chargeable to tax as trading receipt

LG Electronics India Pvt. Ltd. Vs. Addl. (ITAT Delhi) - Even if it is assumed that the assessee was authorized to collect sales tax and retain with it, the same will be chargeable to tax as trading receipt in view of decision of Supreme Court in the case of Sahney Steel and Press Works Ltd. v. CIT [228 ITR 253 (SC)]....

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Validity of agreement for assignment of liabilities and assets by an assessee

MIRC Electronics Ltd. Vs DCIT (ITAT Mumbai) - However, in view of the fact that the agreement has been accepted as genuine in the hands of one of the parties and economic consequences have also occurred because the assignee has made the payment to the Government, the transaction is necessarily be treated as genuine one, and for this reason, ...

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Procedure for Combined new Registration under MVAT, CST and PT Act

Trade Circular No 4 T of 2015 - (09/03/2015) - The dealers/persons/employers, hereinafter referred to as the applicants, desirous of seeking registrations under the Maharashtra Value Added Tax Act (MVAT), Central Sales Tax Act (CST) and the Profession Tax Act (PT) need to make online applications under the relevant Act. These applications are re...

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Trade circular No. 4T of 2010 on Filing of Audit Report in Form-704 for the periods 2005-06, 2006-07 and 2007-08

Trade Circular No. 4 T of 2010 - (18/01/2010) - As per Section 61 of MVAT Act, 2002 it is mandatory for all eligible dealers to get their books of accounts audited. As per trade circular No. 27 T of 2009 Dated 01.10.2009, any dealer who files Audit Report in Form 704 on or after 1" Oct.2009 for any period shall file the same electronically in the...

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MVAT circular on Issuing of Tax Clearance Certificates

Trade Circular No. 1 T of 2010 - (05/01/2010) - In view of this situation, it is necessary that the procedure for the issuing of such certificates should be standardized. Such certificates are very often required to be produced before various government authorities, local bodies or other bodies etc. for the purpose of tender renewal of licenses e...

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MVAT Notification on Delegation of Powers

Notification No. DC (A&R) PWRJJC/2009/6(2)/ADM-6 - (02/01/2010) - In exercise of the powers conferred by sub-section (5) of section 10 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State, Mumbai, hereby amends the notification No. Sr. D. C. (A & R)/PWR/1006/2/Adm-3, dated 6th October 2007 as follows, nam...

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MVAT circular on activity code to be mentioned in audit report form 704

Trade Circular No. 38 T of 2009 - (31/12/2009) - Activity Codes are numerical codes that are used to define the activities of an economic unit. These codes are developed by National Industrial Classification (NIC) 2008. It is a standardized system of classification of economic activities essential for meaningful collection of data relating to such...

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Recent Posts in "Sales Tax"

E-Payment of Maharashtra Value Added Tax (MVAT) – FAQs

Which category of the dealers are required to make e-payment compulsorily for VAT, CST & PTRC? Is it mandatory to pay sales tax online?...

Read More

Sale in course of import for Leasing Transactions: CST

In a recently pronounced judgment in the case of Hewlett Packard Financial Services vs The State of Karnataka, The Deputy Commissioner of Commercial Taxes (Audit) (‘Revenue’), the Karnataka High Court dealt with the issue relating to entitlement of VAT exemption by virtue of Section 5(2) of the Central Sales Tax Act, 1956 (‘CST Act...

Read More

FAQs on MVAT Audit Report in Form 704

What is Audit Report in Form 704? Ans : It is a report under section 61 of MVAT ACT, 2002 to be submitted by eligible dealer within 10 months of the end of a particular financial year....

Read More

Penultimate Export Sale and Tax Exemption under CST ACT, 1956

The Central Government’s policy is, when exports are made, only products or services are to be exported and not taxes. Therefore when tax exemption is available for direct export for the exporters, the sale prior to export i.e Penultimate sale also is considered for tax exemption by the Government. ...

Read More

Procedure for Combined new Registration under MVAT, CST and PT Act

Trade Circular No 4 T of 2015 (09/03/2015)

The dealers/persons/employers, hereinafter referred to as the applicants, desirous of seeking registrations under the Maharashtra Value Added Tax Act (MVAT), Central Sales Tax Act (CST) and the Profession Tax Act (PT) need to make online applications under the relevant Act. These applications are required to be made separately. After succ...

Read More

Sales Tax C, E & F Forms Demystified

There are certain type of forms which has been prescribed under central sales tax rules 1957, form C for making interstate purchase at lower rate, form F used to transfer goods from one branch to other in different state without making it as sale form E1 and E2 used when interstate sale or purchase which are effected by mere transfer of d...

Read More

Form H – Effect on penultimate sales – CST Act, 1956

SALE OR PURCHASE AGAINST H- FORM: CST ACT 1956 EFFECT ON PENULTIMATE SALES: FEEL THE GIST Restriction by Constitution of India & CST Act 1956 on imposition of Tax  on sale of goods in course of import or Export: Tax by State Governments on sales or purchase of goods made during the course of import […]...

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Forms & Procedures under Central Sales Tax (CST)

Every dealer who effects inter-state sale is required to register with State sales tax authorities who are empowered to grant registration under CST Act. Application should be in form ‘A’. Security has to be furnished. Certificate of registration will be in form ‘B’....

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E- I Transaction – Process Note and Documentation

Transit Sales under the CST Act . These are generally known in the market as ‘LR sales’, ‘subsequent inter-State sales’ and ‘E-I sales’. These transactions fall under clause (b) of section 3 of the Central Act, which reads as follows: 3. When is a sale or purchase of goods said to take place in the course of inter-State trade ...

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C Form Cannot Be Refused To be Issued On Arrears of Tax

Sri Rajeswari Agencies Vs. Additional Deputy Commercial Tax Officer II (Madras High Court)

Sri Rajeswari Agencies V. Additional Deputy Commercial Tax Officer II, Sales Tax – Declaration Forms – Arrears Of Tax - C Form Cannot Be Refused To Be Issued On Ground Of Arrears Of Tax – Central Sales Tax Act (74 Of 1956), S. 9(2) – Central Sales Tax (Registration And Turnover) Rules, 1957, Form C....

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