VAT Articles

Service Tax on work contract

Posted by Sandeep Jadhav 09 February 2015 60043 Views

Works contract in itself is a very lengthy subject and law relating to Works Contract in Service Tax is available in a very scattered way. Important part in the defination of Work Contract: A contract where transfer of pr

Whether ITC reversal is to be made for export sales

Posted by RENGARAJ R.K 07 February 2015 20131 Views

R.K Rengaraj, AdvocateWhether Input Tax Credit (ITC) reversal is to be made on export sales without filing form W under Section 18 (3) of the TNVAT Act, 2006?.Introduction: Under TNVAT Act, 2006 there are two options available for the dealer in

Legislative history of filing stock statement as on 31st March of every year under DVAT Act, 2004

Posted by Kaushik Vinod 02 February 2015 10946 Views

INTRODUCTION:I shall begin my write-up with the wording of section 70 of DVAT Act which empowers Commissioner DVAT to issue notifications and prescribe v

Business doesn't pay taxes,it collects it

Posted by CA. Rajeev K. Sharma 24 January 2015 21146 Views

You cant tax business. Business doesnt pay taxes. It collects taxes. -A Discussion on recent VAT Provisions regarding Input Tax Credit What Ronald Reagan said on that evening in his office at Wilshire Boulevard Road, Cali

Evolution of WCT

Posted by Kaushik Vinod 20 January 2015 14489 Views

EVOLUTION OF WORKS CONTRACT TAX (WCT) BACKGROUND:This article is basically written to give you understanding of evolution of works contract tax in India and its entire journey from beginning till date. Before I take you into the mid of ocean we have

MVAT Dealers, Have you checked the new "Dealer Information System"?

Posted by CA Umesh Sharma 20 January 2015 13651 Views

Karniti Part 72MVAT Dealers,Have you checked the new "Dealer Information System"?Arjuna (Fictional Character): Krishna, Sales Tax Department has introduced a new "Dealer Information System". What is it? And what should every dealer do about it? Kris

Is reversal of input tax credit maintainable when the selling dealer's RC is cancelled?

Posted by RENGARAJ R.K 17 January 2015 22265 Views

Introduction: When a dealer purchases his inputs from his vendor and claims the eligible Input Tax Credit (ITC), with a bonafide beli

Kite Fight of VAT Dealer and Department

Posted by CA Umesh Sharma 12 January 2015 10636 Views

Karniti Part 71Kite Fight of VAT Dealer and DepartmentArjuna (Fictional Character): Krishna, this Year "Makar Sankranti" is on 15th January and also the last date of submission of Maharashtra VAT Audit Report. There is Happiness everywhere because of

Works contractors are also eligible for advance VAT exemption - P&H High Court

Posted by Amit Bajaj 09 January 2015 15367 Views

The Punjab & Haryana High Court in CWP 19835 of 2014 Ayyappa Infra Projects Pvt Ltd vs State of Punjab has directed the State of Punjab to issue clarification to the effect that works contractors are also eligible for exemption from advance VAT

Eligibility of refund claim on sales made to 100% EOU

Posted by RENGARAJ R.K 07 January 2015 25695 Views

Whether Refund is eligible to a dealer who makes sales to 100% EOU treating it as Export sales?Introduction: In the recent judgment of Madras High Court in the case of Emerald Stone Export, Pudukottai Vs The Assistant Commissi