Vat

UAE VAT -Exempt & Zero Rated Supplies

Goods and Services Tax - Zero rated supplies are those supplies on which you can claim input but Vat is charged at zero rate. To understand better we should first understand the definition of Taxable Supply....

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UAE VAT Things you must know !- Download Free E-Book

Goods and Services Tax - CA Pritam Mahure has come up with a Book on  Value Added Tax (VAT) in UAE which will come into effect from 1st January 2018 with a standard Rate of 5%. The book is a compilation of GST related key legal provisions, reports and articles. Link to Download is provided at the end of the […]...

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Related Parties (VAT Group) under UAE VAT Law

Goods and Services Tax - Group Registration Concept under UAE VAT Law: Registration as a group between related parties will save Cash outflow on inter company transactions...

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Summary of important clarifications on UAE VAT

Goods and Services Tax - Furthermore, a business may choose to register for VAT voluntarily if their supplies and imports are less than the mandatory registration threshold, but exceed the voluntary registration threshold of AED 187,500....

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VAT in UAE – Date of supply As per UAE VAT Law

Goods and Services Tax - Date of supply is one of the most important factors for UAE VAT as Tax liability to be calculated on this date. As per Article (25) of the UAE VAT Law, earlier of the following is the date of supply:...

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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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Goods cannot be detained merely because Invoice contains Wrong Address or on mere suspicion

M/s. Magnetic Auto Controls Pvt. Limited Vs The Commercial Tax Officer (Madras High Court) - Respondent was required to consider as to merely because the notified party in the commercial invoice contains an address in Chennai, can the transaction be suspected to be one for sale within the State of Tamil Nadu. In fact, when the Detention Notice was issued on suspicion, there was no tangible ...

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Assessment Solely on the basis of Case Study / electricity consumption under TNGST Act is invalid

Tvl.Alfa Leather Board Vs Deputy Commercial Tax Officer (Madras High Court) - Probably, the case study can be a reason for issuing a revision notice, but that cannot be the sole basis for completing the assessment. Repeatedly, Courts have held that electricity current consumption charges cannot be a basis for revision of turnover....

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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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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"

Goods cannot be detained merely because Invoice contains Wrong Address or on mere suspicion

M/s. Magnetic Auto Controls Pvt. Limited Vs The Commercial Tax Officer (Madras High Court)

Respondent was required to consider as to merely because the notified party in the commercial invoice contains an address in Chennai, can the transaction be suspected to be one for sale within the State of Tamil Nadu. In fact, when the Detention Notice was issued on suspicion, there was no tangible material available with the officer to s...

Read More

Assessment Solely on the basis of Case Study / electricity consumption under TNGST Act is invalid

Tvl.Alfa Leather Board Vs Deputy Commercial Tax Officer (Madras High Court)

Probably, the case study can be a reason for issuing a revision notice, but that cannot be the sole basis for completing the assessment. Repeatedly, Courts have held that electricity current consumption charges cannot be a basis for revision of turnover....

Read More

UAE VAT -Exempt & Zero Rated Supplies

Zero rated supplies are those supplies on which you can claim input but Vat is charged at zero rate. To understand better we should first understand the definition of Taxable Supply....

Read More

VAT in UAE – Executive Regulations of UAE VAT Law – Rules and Regulations

Much awaited Executive Regulations approved by the UAE Cabinet. These are in Draft mode and once signed by the HH President of the UAE will take final shape. These rules and regulations will help in smooth implementation and compliance of the UAE VAT Law. Draft executive regulations can be downloaded from the article. #VATinUAE #TaxinUAE ...

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VAT impact on Properties in the UAE

As the UAE is implementing VAT wef 01.01.2018 it will have a slight impact in increase in property pricing with 5% VAT mainly on commercial properties. Residential Properties: Rent/ Lease – exempted – no input credit of VAT paid available. Sale (first sale within 3 years from completion) – Zero Rated – input credit of […]...

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UAE VAT Things you must know !- Download Free E-Book

CA Pritam Mahure has come up with a Book on  Value Added Tax (VAT) in UAE which will come into effect from 1st January 2018 with a standard Rate of 5%. The book is a compilation of GST related key legal provisions, reports and articles. Link to Download is provided at the end of the […]...

Read More

Related Parties (VAT Group) under UAE VAT Law

Group Registration Concept under UAE VAT Law: Registration as a group between related parties will save Cash outflow on inter company transactions...

Read More

Summary of important clarifications on UAE VAT

Furthermore, a business may choose to register for VAT voluntarily if their supplies and imports are less than the mandatory registration threshold, but exceed the voluntary registration threshold of AED 187,500....

Read More

VAT in UAE – Date of supply As per UAE VAT Law

Date of supply is one of the most important factors for UAE VAT as Tax liability to be calculated on this date. As per Article (25) of the UAE VAT Law, earlier of the following is the date of supply:...

Read More

VAT in UAE: Who will feel the pinch

UAE is implementing VAT wef 01.01.2018 @5% on supplies of all Goods and Services. I am sharing my views on impact of VAT on consumers and business and finally who is going to feel the pinch...

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