penalty for late payment of vat


RBI advises banks not to trust guidelines being circulated in social media

Information from Unauthenticated Sources Advisory to banks RBI 2016 17 166 DCM Plg No 1500 10 27 00 2016 17 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Cooperative Banks State Cooperative Banks Dear Sir Info

Procedure for registration as an Insolvency Professional with ICAI

The Indian Institute of Insolvency professionals of ICAI IIIPI a section 8 Company formed by the Institute of Chartered Accountants of India to enroll and regulate insolvency professionals as its members in accordance with the Insolvency and Bankruptcy Code 2016 and read with regulations As per the

Cash withdrawal restriction removed of deposit made in legal tender on or after November 29, 2016

RBI 2016 17 163 DCM No 1437 10 27 00 2016 17 November 28 2016 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Cooperative Banks State Cooperative Banks District Central Cooperative Banks Dear Sir Withdrawal of c

IBA directs banks to accept payment of instalments under IDS 2016

No RB CIR OTC IDS 1404A November 25 2016 The Chief Executives of All Member Banks Dear Sir Madam Income Declaration Scheme 2016 Grievance regarding non acceptance by banks of payments under IDS 2016 through ITNS 286 We have received a communication dated November 23 2016 from RBI on the captioned su

Steps taken by govt to promote digital payments

The Central Government takes various decisions for the benefit of farmers in the current Rabi Season and to promote digital payments in the economy Following the cancellation of legal tender character of old Rs 500 and Rs 1000 notes a number of measures have been announced by the Union Government ta

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Experts Opinions

Penalty for 271c or 30% disallowance

Dear Experts Pls clarify weather penalty for non deduction of TDS shall attract u s 271C or only 30 shall be disallowed Regds Anuj

applicability of dvat

whether dvat is applicable fir stiching garments

Cst calculation on vat exempted silver anklets in tamilnadu

Dear Experts I m an Individual from TamilNadu I would like to know a few clarifications over following 1 Currently there is VAT exemption for SILVER ANKLETS in TN I wish to do an Inter State sale of this particular exempted good from TN to ANDRA PRADESH where current VAT for SILVER PRODUCTS is 1 So

Giving bus on contract basis to private company


5% tax ledger vat tax class not create

Respected Sir In tally erp 9 Vat Tax class purchase 5 Input Vat 5 Output Vat 5 not tracking even not showing I had been try to every side but not solve that problem How to create this ledger in Vat Tax class purchase 5 Input Vat 5 Output Vat 5


Changeability of Service tax and VAT

owners of building going in for addition and alteration of area of their flats addl fsi thru works contract to a civil Contractor Do the owner need to pay service tax and vat if yes then at what rates the contracts present quotation states VAT 8 on gross value and ST 10 5 He says he had charged on c

chargeability of Service tax and vat on works contract

owners of a building are undergoing addition and alteration of area in existing flat thru civil Contractor are owners liable to pay service tax on such construction and if yes then at what rate and how also applicable rate of VAT

Delhi vat category

Dear Sir What category in Delhi VAT Registration we should choose for client who wish to sell anything he she want

Mvat code for urd consignment inward ?

Friends what will be code for URD Vachati Inward Consignment Inward J 2 within Maharashtra state for new MVAT Returns T R KP

What is the system for e-filing vat?

Value Added Tax is collected by State governments for all the transactions which take place within the territory of that respective State As a result the payment of VAT differs in different States The first step towards e filing of VAT is to locate the Sales Tax website of the respective State gover

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File Download

  • Handbook on Revised GST Law

    Revised GST law containing Revised Model CGST SGST Law Revised IGST Law GST Compensation Cess Law GST Rules for registration payment return refund and invoices Orange colour is used for our comments on key provisions of the Revised Model GST Act and key words in respective sections are highlighted in bold
  • Full Process of Enrollment in GST for Bihar State

    Full Process of Enrollment in GST for Bihar State for existing VAT dealer
  • Documents required for applying MVAT registration

    There are many documents as per constitution
  • Taxation Laws (2nd Amendment) Bill 2016

    As introduced in Lok Sabha on 28 11 2016 It provides for alternative scheme for undisclosed income Declarant will be required to pay tax 30 of undisclosed income and penalty 10 of undisclosed income Further a surcharge 33 of tax will also be levied In addition to tax surcharge and penalty 25 of undisclosed income will be required to be deposited in a deposit scheme to be notified by Govt
  • Declaration under 94A Affidavit

    Declaration under 94A Foreign transaction Affidavit required Rs 100 stamp paper as per assessment Notary SHAILESH SHINDE ASSOCIATES

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Latest performance analysis for Debt-secured Investment plans

Dear Friends Please find enclosed new performance analysis for Debt secured Investment plans The softening trend in inflation has also left the door open for RBI for a rate cut in December Retail or CPI inflation dipped to a 14 month low of 4 20 per cent in October while the one based on wholesale p

Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961

Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o

Provisions related to related party transactions

The parent Section under the Companies Act 2013 related to the related party transactions i e Section 188 read with the relevant Rules made thereunder specifies as 1 Except with theconsent of the Board of Directorsgiven by a resolution at a meeting of the Board and subject to such conditionsas may b

Section 144 - A new avatar in the Companies Act On 'Auditor not to render certain services'

A New Concept Section 144 of the Indian Penal Code is normally promulgated to avoid unlawful assembly of people with attempt to cause public disturbance It is not on normal situations But for number sack of the Section 144 of the Companies Act 2013 on Auditor not to render certain services what abou

Payments Banks in India

Payment banks Last week Airtel Bharti has launched its payment bank service Airtel Payments Bank in Rajasthan on a pilot basis and has claimed to have opened nearly 10 000 accounts in rural and semi urban areas within two daysof operation Going forward lots of discussion will be going on about what

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Updated on : 12/6/2016 10:13:37 AM


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