Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Goods and Services Tax : Haryana Government has introduced a One Time Settlement Scheme for resolving legacy pre-GST tax disputes. The scheme offers waiver...
Goods and Services Tax : This analysis examines how GST transformed India’s indirect tax regime while continuing to face compliance, technological, and i...
Goods and Services Tax : Explains how Section 16(2)(c) links ITC eligibility to supplier tax payment, causing hardship for bona fide taxpayers even when in...
Goods and Services Tax : The UAE’s digital success is driven by strong infrastructure, tax clarity, and disciplined business setup. Proper licensing, com...
Goods and Services Tax : Explore Supreme Court's scrutiny of whether supplying cranes for services like loading, unloading, lifting, and shifting qualifies...
Goods and Services Tax : Goa (Recovery of Arrears of Tax, Interest, Penalty, Other Dues through Settlement) Act, 2023 The Goa (Recovery of Arrears of Tax, ...
Goods and Services Tax : HIGHLIGHTS OF THE MAHARASHTRA STATE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDR...
Goods and Services Tax : office of the Jt. Commissioner of State Tax. (HQ-1) F-Wing, 7th floor, New bldg, GST Bhavan, Mazgaon, Mumbai-400010. Tel No. 022 2...
Goods and Services Tax : Rajasthan VAT – ITC Mismatch/ Verification Date Extended to 31.03.2022 & In some cases requirement of Affidavit also R...
Goods and Services Tax : Kerala HC held reassessment under Sections 25A and 25(1) cannot continue after the statutory limitation period expires....
Corporate Law : The Madras High Court held that moulds and dies could not qualify as capital goods under the TNVAT Act because they were not used ...
Goods and Services Tax : The Karnataka High Court held that a Magistrate conducting recovery proceedings under the KVAT Act has no authority to determine t...
Corporate Law : The Bombay High Court held that limitation under Section 35 of the Goa VAT Act must be computed after excluding the COVID period w...
Income Tax : The Tribunal held that an investigation report against a supplier is only a starting point for inquiry and not conclusive proof ag...
Goods and Services Tax : Madhya Pradesh Government notifies deemed assessment for 2023-24 VAT cases for eligible petrol pumps, outlining conditions and app...
Goods and Services Tax : Goa Finance Dept issues circular clarifying proper discount treatment in tax invoices under GVAT Act, 2005, and outlines correct V...
Corporate Law : Maharashtra amends MVAT Act with retrospective effect from 2005, clarifying tax exemptions, deemed sales, and first charge provisi...
Goods and Services Tax : Maharashtra Sales Tax Tribunal (MSTT) launches a website for case updates, hearings, and judgments, replacing physical cause lists...
Finance : Maharashtra amends VAT Rules 2005 to introduce Rule 34A, mandating the publication of pending appeal cases on the common portal. D...
M/s. Sri Murugan Agency Vs. Commercial Tax Officer (FAC) (Madras High Court) The petitioner herein opted to pay compounding tax as per section 3(4) of the Tamil Nadu Value Added Tax Act, 2006, as the assessee expected the turnover for the year 2007-08 as between Rs. 10 lakhs and Rs. 50 lakhs. The petitioner filed […]
The Patna High Court, in a recent ruling, held that the prosecution in criminal law and proceedings arising under the Bihar Value Added Tax Act, 2005 are undoubtedly independent proceedings and, there is no impediment in law for the criminal proceedings to proceed even during the pendency of the proceedings under the Bihar Value Added Tax Act, 2005.
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.
In a recent ruling, the Madras High Court held that the hospital is not liable to pay Sales Tax under Tamil Nadu Value Added Tax Act in respect of import of medical equipments for its personal consumption.
Introducing the Refundable Tax System: a new concept in indirect taxation that aims to create awareness and enhance people’s lives through tax refunds.
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 suspect that the imported goods were intended for sale in Tamil Nadu.
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.
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.
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 […]
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 […]
