Vat

Gvat Audit For Cases Where Taxable Turnover Exceeds Inr 25 Lakhs – Is It As Per Law ?

Goods and Services Tax - Vide letter dated 07.12.2018 Ld. Joint Commissioner (Legal), Gujarat has clarified that even cases where taxable turnover exceeds INR 25 lakhs (wherein total turnover is less than INR 1 crore) for FY 2017-18 shall also be liable to obtain VAT Audit Report and submit the same. Our analysis in this regard is as under:...

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Haryana Vat: changes in Vat Calculation formula for Diesel and Petrol

Goods and Services Tax - Haryana Vat Act has changes in Vat Calculation formula on Disel and Petrol from 13/14 Dec 2018...

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Issues in VAT Audit of April 2017 to June 2017 in Maharashtra

Goods and Services Tax - Krishna, for the year 2017-18, taxpayers have to comply with both VAT Audit and GST Audit. But which form is applicable for VAT audit? The due date for filing form 704 is 15th January, 2019....

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Gist of Updates – Indirect Taxes – October 2018

Goods and Services Tax - Indirect Taxes Updates- GST, Customs, Excise, Service Tax & VAT- Month – October 2018 A. Amendment in Goods & Services Tax (GST) for the Month of October 2018 1. Time Limit for furnishing the declaration in FORM ITC 04 extended till 31st 2018 CBIC has extended the time limit for furnishing the declaration in FORM […]...

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Bahrain – Draft VAT Law (Unofficial Version)

Goods and Services Tax - This is an Unofficial English Translation of the Draft Bahrain Value Added Tax Law. Chapter 1 – Preliminary provisions Article 1 – Definitions (1) The Kingdom: The Kingdom of Bahrain including all its lands and its subsoil and territorial waters adjacent to it and the seabed, and all that is vested in sovereign rights in [&hel...

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Request to extend last date of Annual Return Form 10A-VAT- Rajasthan

Goods and Services Tax - As Members are occupied in Tax Audit Report under the Income Tax Act, 1961 (due date is 31.10.2018) and also in GST Reconciliation and Rectification work, we hereby request your good self to kindly extend the due date of filing Annual Return under VAT in Form 10A (Period ending 30-June-2017) for the dealers who moved to GST Regime from 31...

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VAT Scrutiny in Kerala- Guidelines for planning collection of Data

Goods and Services Tax - The Government has given instructions to complete the back log VAT works and ensure improved revenue performance. The Department has developed the SCRUTINY MODULE to do the scrutiny and assessments efficiently as per the law, without any errors....

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Punjab VAT Annual Return due date extended to 8th December 2017

Goods and Services Tax - Extension of Due date of filing of Punjab VAT Annual return VAT-20 for year 2016-17 from 30th November 2017 to 08th December 2017 by Government of Punjab vide its Notice dated 30th November 2017....

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VAT / Sales Tax Payable on sale of Flats – Bombay HC

Goods and Services Tax - THE Bombay High Court appears to have served a body blow to realtors in Maharasthra. The HC today dismissed their petition that challenged the applicability of Value Added Tax (VAT) on sale of flats. The builders argued that VAT is not payable on immovable property....

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West Bengal – Entry Tax on Goods – wef 01/04/2012

Goods and Services Tax - 1. The tax rate shall be uniform – ONE per cent on value of goods. 2. No collection of any tax at any checkpost. 3. No question of vehicles being detained anywhere within the local area including checkpost. 4. Self declaration and self assessment of tax....

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Liability to tax was on manufacturer for possession of chassis of vehicles U/s 6 of BMVT Act

Ms.Tata Motors Limited Vs. State of Jharkhand (Supreme Court) - Liability of tax was on the manufacturer for the chasis of the motor vehicles manufactured by them during the period these chasis were in their “possession”, i.e., before they were delivered to the dealers and/or the purchasers of the said vehicles as per section 6 of Bihar Motor Vehicles Taxati...

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Reopening of assessment on mere Audit Party Opinion not valid

M/s.Ayyan Fireworks Factory (P) Ltd. Vs The Assistant Commissioner (CT)-I (FAC) (Madras High Court) - M/s. Ayyan Fireworks Factory (P) Ltd. Vs Assistant Commissioner (CT)-I (FAC) (Madras High Court) Reopening of assessment on mere Audit Party Opinion without disposing Objection of Assesee is not valid The Assessing Officer has to independently record his view for such reopening if he proposes to reo...

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No VAT on dyes & chemicals washed away during Job work & get embedded into final product.

M/s A P Processors, Vs State of Haryana (Punjab and Haryana High Court) - Whether on the facts and in the circumstances of the case, the learned Tribunal was justified in upholding the levy of tax on chemicals used as consumables in the process of job work of dyeing of fabric by assuming that property in the goods has passed on to the principals?...

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Re-Assessment Order under Karnataka VAT after GST rollout is Valid

M/s. Prosper Jewel Arcade LLP Vs The Deputy Commissioner Commercial Taxes (High Court Karnataka) - M/s. Prosper Jewel Arcade LLP Vs The Deputy Commissioner Commercial Taxes (High Court Karnataka) The Court further added that “therefore, the larger constitutional questions raised in the present writ petition and as sought to be canvassed by the learned Senior Counsel for the petitioner like the ...

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KVAT: Amendment extending time cannot have automatic retrospective operation

K. Vinod Chandran Vs Ashok Menon (Kerala High Court) - K. Vinod Chandran Vs Ashok Menon (Kerala High Court) The impugned judgments in the above appeals disposed of a batch of writ petitions as also writ petitions, individually, filed by the assessee-petitioners against notices issued for assessment under the Kerala Value Added Tax Act, 2003 (for brevity...

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RVAT: Penalty on Awarders not revising Form VAT-40E in time

RVAT Circular No. 01/2019 - (23/01/2019) - Rule 40(8B) provides that where an awarder discovers any omission or error in the Form VAT-40E furnished by him, he may furnish a revised Form VAT-40E within three months from the close of the relevant year....

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West Bengal Taxation Laws (Amendment) Act, 2018

No. 2227-L.—17th December, 2018 - (17/12/2018) - (1) This Act may be called the West Bengal Taxation Laws (Amendment) Act, 2018. (2) Save as otherwise provided, this section shall come into force with immediate effect, and the other provisions of this Act shall come into force on such date as the State Government may, by notification in the Offici...

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Family assistance scheme for VAT GST dealers Registered in Rajasthan

No. F.12(112)FD/Tax/2017-Pt.-I-121 - (05/10/2018) - Eligibility criteria for availing Benefits of Family assistance scheme:-i. Dealers/traders who are bonafide residents of Rajasthan, registered-in VAT /GST in Rajasthan and have been carrying on business for at least one yearshall be eligible as beneficiaries for the scheme....

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Rajasthan VAT: Date of Filing of VAT 10A return for 2017-18 extended to 31.10.2018

Notification No. F26 (315)CCT/MEA/2014/577 - (31/08/2018) - Due Date of Filing of VAT Return of VAT 10A for Financial Year 2017-18 in Rajasthan extended to 31st October 2018 vide Notification No. F26 (315)CCT/MEA/2014/577 Dated: August 31, 2018...

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Rate of tax on sales of alcoholic liquor for CSD in Nagaland

Notification No. FIN/REV/VAT/ALC/18 /236  - (21/08/2018) - Governor of Nagaland is pleased to order that the rate of tax on sales of alcoholic liquor for human consumption to or by the Canteen Store Department (CSD), Government of India, in the State of Nagaland for the purpose of resale to Unit Run Canteen (URC) or defence personnel strictly for their pers...

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Recent Posts in "Vat"

Liability to tax was on manufacturer for possession of chassis of vehicles U/s 6 of BMVT Act

Ms.Tata Motors Limited Vs. State of Jharkhand (Supreme Court)

Liability of tax was on the manufacturer for the chasis of the motor vehicles manufactured by them during the period these chasis were in their “possession”, i.e., before they were delivered to the dealers and/or the purchasers of the said vehicles as per section 6 of Bihar Motor Vehicles Taxation Act, 1994....

Read More

RVAT: Penalty on Awarders not revising Form VAT-40E in time

RVAT Circular No. 01/2019 (23/01/2019)

Rule 40(8B) provides that where an awarder discovers any omission or error in the Form VAT-40E furnished by him, he may furnish a revised Form VAT-40E within three months from the close of the relevant year....

Read More

Reopening of assessment on mere Audit Party Opinion not valid

M/s.Ayyan Fireworks Factory (P) Ltd. Vs The Assistant Commissioner (CT)-I (FAC) (Madras High Court)

M/s. Ayyan Fireworks Factory (P) Ltd. Vs Assistant Commissioner (CT)-I (FAC) (Madras High Court) Reopening of assessment on mere Audit Party Opinion without disposing Objection of Assesee is not valid The Assessing Officer has to independently record his view for such reopening if he proposes to reopen and thereafter, notice has to be iss...

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West Bengal Taxation Laws (Amendment) Act, 2018

No. 2227-L.—17th December, 2018 (17/12/2018)

(1) This Act may be called the West Bengal Taxation Laws (Amendment) Act, 2018. (2) Save as otherwise provided, this section shall come into force with immediate effect, and the other provisions of this Act shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint and different dates ...

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Gvat Audit For Cases Where Taxable Turnover Exceeds Inr 25 Lakhs – Is It As Per Law ?

Vide letter dated 07.12.2018 Ld. Joint Commissioner (Legal), Gujarat has clarified that even cases where taxable turnover exceeds INR 25 lakhs (wherein total turnover is less than INR 1 crore) for FY 2017-18 shall also be liable to obtain VAT Audit Report and submit the same. Our analysis in this regard is as under:...

Read More

Haryana Vat: changes in Vat Calculation formula for Diesel and Petrol

Haryana Vat Act has changes in Vat Calculation formula on Disel and Petrol from 13/14 Dec 2018...

Read More

Issues in VAT Audit of April 2017 to June 2017 in Maharashtra

Krishna, for the year 2017-18, taxpayers have to comply with both VAT Audit and GST Audit. But which form is applicable for VAT audit? The due date for filing form 704 is 15th January, 2019....

Read More

Gist of Updates – Indirect Taxes – October 2018

Indirect Taxes Updates- GST, Customs, Excise, Service Tax & VAT- Month – October 2018 A. Amendment in Goods & Services Tax (GST) for the Month of October 2018 1. Time Limit for furnishing the declaration in FORM ITC 04 extended till 31st 2018 CBIC has extended the time limit for furnishing the declaration in FORM […]...

Read More

No VAT on dyes & chemicals washed away during Job work & get embedded into final product.

M/s A P Processors, Vs State of Haryana (Punjab and Haryana High Court)

Whether on the facts and in the circumstances of the case, the learned Tribunal was justified in upholding the levy of tax on chemicals used as consumables in the process of job work of dyeing of fabric by assuming that property in the goods has passed on to the principals?...

Read More

Re-Assessment Order under Karnataka VAT after GST rollout is Valid

M/s. Prosper Jewel Arcade LLP Vs The Deputy Commissioner Commercial Taxes (High Court Karnataka)

M/s. Prosper Jewel Arcade LLP Vs The Deputy Commissioner Commercial Taxes (High Court Karnataka) The Court further added that “therefore, the larger constitutional questions raised in the present writ petition and as sought to be canvassed by the learned Senior Counsel for the petitioner like the substitution of Entry 54 in List II, eff...

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