Goods and Services Tax : Haryana revives entry tax after 8 years, sparking legal concerns. Understand the implications, recovery limits, and legal remedies...
Goods and Services Tax : Learn about VAT registration, eligibility criteria, required documents, VAT rates, and filing process in the UAE. Stay compliant w...
Income Tax : Learn about TDS under Section 194Q and TCS under Section 206C(1H) on goods sales and purchases, including rates, thresholds, and c...
Goods and Services Tax : Discover the legal stance on transitioning unutilized VAT credit under GST regime, as per a recent ruling by the Madras High Court...
Income Tax : Explore the nexus between tax avoidance and inequality in India. Learn how legal loopholes deepen economic divides and discover st...
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 : Calcutta HC rules that Crescent Manufacturing Pvt. Ltd. must pay output tax for the disputed period, as input tax credit adjustmen...
Goods and Services Tax : Jharkhand High Court directs tax authorities to refund excess tax retained after assessment reduction, ruling it violates Articles...
Goods and Services Tax : The petitioner, who was running the business of a Bar and Restaurant in Ananthapur Town, had registered himself as a dealer, under...
Service Tax : Karnataka High Court held that transfer of Set Top Boxes to subscribers amounts to sale within the definition of section 2(29)(d) ...
Goods and Services Tax : Gujarat High Court quashes FIR against KGN Enterprises in alleged bogus billing and ITC claim case, citing ongoing tribunal procee...
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...
Goods and Services Tax : Discover the latest Maharashtra VAT Act amendment providing relief for late filers. Learn about the changes, due dates, and late f...
Goods and Services Tax : Learn about the latest notification from the Maharashtra Finance Department granting late fee waivers for Profession Tax Payers. U...
Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms. “We also need to focus on the introduction of GST from April 1, 2010. This is a critical part of our economic reforms,” Finance Minister Pranab Mukherjee said while […]
In its recent Budget Maharashtra State Govt. And its Finance Minister offered a mixed bag for the industry, trade and individuals subjected to professional tax. Keeping in mind not the economic slowdown but the forthcoming State Assembly polls in October, the Finance Minister, Mr Dilip Walse Patil has announced exemption of salary upto Rs 5000 […]
As Maharashtra braces up for polls and celebrates its golden jubilee year, it tabled a revenue-deficit budget for the year 2009-10 on 4th June 2009 that focuses on infrastructure development and social sector. The major highlights and changes proposed are noted below : Penalty for late returns under MVAT Act reduced to Rs.5,000/- from Rs.10,000/-. Exemption […]
The cost of the land shall be determined in accordance with the guidelines appended to the Annual Statement of Rates prepared under the provisions of the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the 1st January of the year in which the agreement to sell the property is registered.
Institute of Chartered Accountants of India (ICAI) would submit a representation to Tamil Nadu Government to make VAT Auditing compulsory in the State. By compulsory auditing of VAT, as in Maharashtra, the Government would have lot of advantages, including identifying the revenue leakage, said Mr G Ramaswamy, General Council member.
At present, the tax, which is levied on inter state sale of goods, is at 2%. It was scheduled to be reduced by another 1%, starting April 1, 2009. At the time, the rate cut was postponed on account of the general elections and the Election Commission’s code of conduct. Recently, the empowered committee of state finance ministers wrote to the Union finance ministry recommending that the tax should be completely withdrawn when GST kicks in, as there is massive evasion of VAT (which goes to the states’ coffers).
As the banks shall not be accepting returns or the corresponding tax payments from such dealers and as they shall not be able to get themselves registered for e-services, their physical returns shall be accepted by the Sales Tax Department.
Institute of Chartered Accountants of India (ICAI) is mulling over bringing about some changes in the chartered accountancy course syllabus, ICAI President Uttamprakash Agrawal said on Wednesday. “Indian chartered accountants are capable enough not just to fight the economic downturn, but also guide the world on how to come out of it,” he said.
In order to file electronic returns, the dealers are required to enroll themselves for the e services offered by the Department. It is noticed that some of the dealers have approached sales tax department with their difficulties regarding e enrollment or e filing of returns. The difficulties encountered by these dealers have been given due consideration.
You are aware that by the Government notification cited at reference (1) above, the rate of tax on Timber [under Entry 108(2) of schedule ‘C’ appended to the Maharashtra Value Added Tax Act, 2002] for the period 1st April 2008 to 31st March 2009 was reduced to 4 per cent. Thus, with effect from 1st April 2009 the rate of tax on Timber shall be 12.5 per cent.
