Vat

Implementation of VAT in GCC (Gulf Cooperation Council) countries

Goods and Services Tax - VAT is an indirect tax charged at each stage of economic activity throughout the supply chain. VAT would be applicable on majority of the business transactions with some relief or exemption. A significant milestone in the GCC was achieved when UAE along with Saudi Arabia, Bahrain, Qatar, Kuwait, and Oman announced the adoption of indirect...

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Guide to VAT refund for visitors to the EU (European Union)

Goods and Services Tax - A visitor is any person who permanently or habitually lives in a country outside the EU. Your address as shown in your passport or other identity document will be taken as the place where you permanently or habitually live....

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A brief on New Value Added Tax (VAT) regime in UAE

Goods and Services Tax - The United Arab Emirates (UAE) and Saudi Arabia is all set to welcome the New Value Added Tax (VAT) regime from 1st January, 2018. Other Gulf Cooperation Council (GCC) Countries, VAT may be implemented from January 2019. The President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, has issued the Federal Decree-Law No. 8 of 2017 for VA...

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Value Added Tax (VAT) in France – A lively discussion

Goods and Services Tax - The areas covered under VAT in France includes continental France, Corsica, the Principality of Monaco, territorial waters, the continental shelf and the départements of Guadeloupe, Martinique and La Réunion. ...

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GST, Excise, Service Tax, Customs & VAT updates for April 2017

Goods and Services Tax - Rule – making has gained momentum and CBEC has released several draft rules like draft accounts & records rules, draft assessment & audit rules, draft appeals & revision rules, draft advance rulings rules and draft-way bill rules....

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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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Rajasthan – VAT Returns Due date of 2010-11 extended to 30-04-2012

Goods and Services Tax - Due date for submission of all returns for the year 2010-11 under Rule 19 and Rule 19A of the Rajasthan Value Added Tax Rules 2006 has been extended by CCT Rajasthan upto 30-04-2012. ...

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Govt. charging more then Rs. 25 per litre as taxes on Petrol

Goods and Services Tax - About 38 per cent or Rs 26.22 in petrol price of Rs 68.64 a litre in Delhi is because of central and state government taxes. State-owned oil firms had last week hiked petrol price by Rs 1.80 a litre, the fifth increase this year as oil imports became costlier due to fall in rupee value. The new rate is based on a basic price of petrol, wi...

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States to impose VAT on textiles and sugar next year onwards

Goods and Services Tax - Consumers will have to pay more for sugar and textiles as States on Friday decided to impose four-five per cent value added tax (VAT) on sugar and textiles from the beginning of next fiscal. A move that will shore up their state governments revenue, but also stoke inflationary pressures....

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Sales Tax applicable on Divisible Sales Component in Works Contract: SC

M/s. India Hume Pipe Co. Ltd Vs State of Rajasthan and Ors. (Supreme Court of India) - All these appeals are filed by the same appellant, namely, M/s. India Hume Pipe Co. Ltd. (hereinafter referred to as the assessee). The singular issue that arises is also identical in all these appeals. The only reason for filing number of appeals is that the said issue pertains to different Assessm...

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VAT on terminalling services provided to BPCL when Service Tax already been paid

SHV Energy Private Limited Vs The State of Tamil Nadu (Madras High Court) - The petitioner's first and foremost contention is that the same transaction cannot be taxed under the Finance Act for service tax and VAT. Further, it is contended that there is no transfer of right to use the goods and the contract between the petitioner and the BPCL is a non-exclusive contract and...

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RLNG supplied by GAIL is not CNG and is Taxable under UP VAT Act

M/S Bhushan Steel Limited Vs The Commissioner, Commercial Taxes (Allahabad High Court) - 1. Whether ‘Regasified Liquefied Natural Gas’ i.e. ‘RLNG’, sold to revisionist by Gas Authority of India Ltd. i.e. ‘GAIL’ is ‘Compressed Natural Gas (CNG)’, so as to oust it from the purview of taxing Entry 8(a) of Schedule IV of Uttar Pradesh Value Ad...

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SC Upheld validity of MVAT (Levy, Amendment and Validation) Act, 2009

Eurotex Industries and Exports Limited Vs State of Maharashtra & Anr. (Supreme Court of India) - SC upheld constitutional validity of the Maharashtra Value Added Tax (Levy, Amendment and Validation) Act, 2009 which amended certain provisions in the Maharashtra Value Added Tax Act, 2002 (MVAT Act) with retrospective effect from April 01, 2005. ...

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No VAT under Telangana VAT Act, 2005 on transfer of a business as a whole

M/s. Paradise Food Court Vs. State of Telangana (Andhra Pradesh High Court) -  A careful look at the reason for Rule 36 being inserted, which cannot be correlated to anyone of the matters enumerated in Clauses (a) to (r) of sub-section (2) of Section 78, will show that in the entire Telangana VAT Act, 2005, the only place where a transfer of business as a whole is spoken [&h...

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Himachal Pradesh Value Added Tax (Fifth Amendment) Rules, 2017

Notification No. EXN-F-(10)-15/2016 - (29/04/2017) - In Rule 50 of the Himachal Pradesh Value Added Tax Rules 2005, in sub- rule (3) and in para No. 6 of the application Form L- 2 for the words twenty five, the word thirty, shall be constituted...

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Alternative Tax Compliance Scheme 2016 for Contractors in Haryana

Notification No 19/ST-1/ H.A. 6/2003/S.59A/2016 - (12/09/2016) - Governor of Haryana hereby provides for an Amnesty Scheme namely, the Haryana Alternative Tax Compliance Scheme for Contractors, 2016, for the recovery of tax, interest, penalty or other dues payable under the said Act, for the period upto the 31st March, 2014, from such contractors and for such bus...

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Daman VAT: Tax rate enhanced from 4% to 5% w.e.f 14-01-16

Notification No DMN/VAT/Part-File/57-2/2014-15/453 - (14/01/2016) - In union territory of Daman and Diu VAT Rate on Sale / Purchase of Goods mentioned in Third Schedule will be 5 % with effect from 14.01.2016 instead of 4%. Related Notification is as follows :- ...

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Regarding cancellation of registration of VAT dealers who have failed to file their returns

Circular No. 02/2015-16 - Income Tax - (23/06/2015) - It has been observed that substantial number of registered dealers have not filed their returns for the financial years 2012-13 and 2013-14. This may be on account of no business activity by them during these years or the business may have been closed down permanently or the business being conducted...

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Free e-Book on​ AP VAT Act & Rules 2005

NA - Download Free e- Book on Andhra Pradesh (AP) Value Added Tax Act, 2005 – Updated Till 30th April 2015 Download Free e- Book on Andhra Pradesh (AP) Value Added Tax Rules, 2005 – Updated Till 30th April 2015 Rate Schedule Under Andhra Pradesh (AP) Value Added Tax Act, 2005 1. APVAT SCHEDUL...

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Recent Posts in "Vat"

Implementation of VAT in GCC (Gulf Cooperation Council) countries

VAT is an indirect tax charged at each stage of economic activity throughout the supply chain. VAT would be applicable on majority of the business transactions with some relief or exemption. A significant milestone in the GCC was achieved when UAE along with Saudi Arabia, Bahrain, Qatar, Kuwait, and Oman announced the adoption of indirect...

Read More

Guide to VAT refund for visitors to the EU (European Union)

A visitor is any person who permanently or habitually lives in a country outside the EU. Your address as shown in your passport or other identity document will be taken as the place where you permanently or habitually live....

Read More

Sales Tax applicable on Divisible Sales Component in Works Contract: SC

M/s. India Hume Pipe Co. Ltd Vs State of Rajasthan and Ors. (Supreme Court of India)

All these appeals are filed by the same appellant, namely, M/s. India Hume Pipe Co. Ltd. (hereinafter referred to as the assessee). The singular issue that arises is also identical in all these appeals. The only reason for filing number of appeals is that the said issue pertains to different Assessment Years....

Read More

A brief on New Value Added Tax (VAT) regime in UAE

The United Arab Emirates (UAE) and Saudi Arabia is all set to welcome the New Value Added Tax (VAT) regime from 1st January, 2018. Other Gulf Cooperation Council (GCC) Countries, VAT may be implemented from January 2019. The President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, has issued the Federal Decree-Law No. 8 of 2017 for VA...

Read More

VAT on terminalling services provided to BPCL when Service Tax already been paid

SHV Energy Private Limited Vs The State of Tamil Nadu (Madras High Court)

The petitioner's first and foremost contention is that the same transaction cannot be taxed under the Finance Act for service tax and VAT. Further, it is contended that there is no transfer of right to use the goods and the contract between the petitioner and the BPCL is a non-exclusive contract and the installation and facility is used b...

Read More

Value Added Tax (VAT) in France – A lively discussion

The areas covered under VAT in France includes continental France, Corsica, the Principality of Monaco, territorial waters, the continental shelf and the départements of Guadeloupe, Martinique and La Réunion. ...

Read More

RLNG supplied by GAIL is not CNG and is Taxable under UP VAT Act

M/S Bhushan Steel Limited Vs The Commissioner, Commercial Taxes (Allahabad High Court)

1. Whether ‘Regasified Liquefied Natural Gas’ i.e. ‘RLNG’, sold to revisionist by Gas Authority of India Ltd. i.e. ‘GAIL’ is ‘Compressed Natural Gas (CNG)’, so as to oust it from the purview of taxing Entry 8(a) of Schedule IV of Uttar Pradesh Value Added Tax Act, 2008, (hereinafter referred...

Read More

SC Upheld validity of MVAT (Levy, Amendment and Validation) Act, 2009

Eurotex Industries and Exports Limited Vs State of Maharashtra & Anr. (Supreme Court of India)

SC upheld constitutional validity of the Maharashtra Value Added Tax (Levy, Amendment and Validation) Act, 2009 which amended certain provisions in the Maharashtra Value Added Tax Act, 2002 (MVAT Act) with retrospective effect from April 01, 2005. ...

Read More

No VAT under Telangana VAT Act, 2005 on transfer of a business as a whole

M/s. Paradise Food Court Vs. State of Telangana (Andhra Pradesh High Court)

 A careful look at the reason for Rule 36 being inserted, which cannot be correlated to anyone of the matters enumerated in Clauses (a) to (r) of sub-section (2) of Section 78, will show that in the entire Telangana VAT Act, 2005, the only place where a transfer of business as a whole is spoken […]...

Read More

GST, Excise, Service Tax, Customs & VAT updates for April 2017

Rule – making has gained momentum and CBEC has released several draft rules like draft accounts & records rules, draft assessment & audit rules, draft appeals & revision rules, draft advance rulings rules and draft-way bill rules....

Read More
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