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...
Before the article goes into its technicalities it is worth to remind you about the budget of Delhi Govt. presented by Deputy CM Mr. Sisodia and the budgeted receipts for FY 2015-16 were Rs. 41500 Cr. out which Rs. 24000 Cr. was from VAT and as per reports till first week of January 2016 the Govt. has collected Rs. 14720 Cr. meaning hereby deficit of Rs. 9000 Cr. need to be collected in just 02 and half month.
In an era of zealous consumers wanting everything at the drop of a hat, we see a number of new start-ups mushrooming everyday with their unique and ingenuous ideas. We recently met the founderts of one such start-up that made us explore quite an interesting proposition. The start-up offers various items of clothing on rent to its customers including casual wear, party wear and designer wear which, for valuable consideration, are rented out to the customers for fixed number of days.
Currently, there is lot of confusion among the industry, trade and the taxmen on whether the activity of Renting of movable goods or supply of tangible goods attracts Service Tax or whether it attracts Sales Tax. The confusion has only been used as a tool by the departmental officials in issuing demand notices under both the tax laws and therefore a tug of war.
In order to curb tax evasion of selected notified commodities which are brought into the State and sold without any tax payment to the exchequer, the Tamilnadu State Government has brought a new advance Inward way bill format to be generated through online, like e-sugam as in force in the state of Karnataka, in the newly created web portal viz., e-C Tax with effect from 29.01.2016.
Electronic commerce, commonly written as e-commerce, is the trading or facilitation of trading in products or services using computer networks, such as the Internet (From Wikipedia, the free encyclopedia). In recent time the transactions conducted through e-commerce have grown manifold and Govt. is little concerned on its taxation parts specially VAT.
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 :-
Dayal R Kundani Notification: No. 80-FIN-CT1-TAX-0020-2015 Dtd 1st Jan, 2016 Goods taxable at the rate of 13.5% shall now be taxable at the rate 14.5 % for list of goods subject to Value Added Tax on Turnover of Sales or Purchases (General rate – Schedule B Part III)
A Common businessman always has some kind of dilemma with regard to the VAT TIN and CST TIN which are sometimes referred to as GST in common parlance also. The questions related to VAT TIN and CST TIN registration in Gujarat include: What is VAT and CST, When to register, How to register, Where to register and What is the process of registration etc. This article outlines some common questions of a common man while opting for VAT TIN and CST TIN registration.
The Dealer has faced two very important and painful things under the present system of vat is namely 1.Hurdles in claiming of Input tax credit under the guise of partial rebate/time limit etc., 2.Burden of proof
In a recent decision dated 22.09.2015, rendered in the case of Jyoti CNC Automation Ltd. v/s the State of Gujarat, the Gujarat Value Added Tax Tribunal has held that C Form cannot be disallowed merely on the basis of data available on tinxsys [tax information exchange system] website without investigating the authenticity of the form.
