VAT Articles

Supreme Court: Mobile charger is not a part of cell phone

Posted by Sumit Grover 18 December 2014 27453 Views

Honble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone. B

Work Contractor and Rajasthan VAT

Posted by CA Ram Bajaj 17 December 2014 14636 Views

Method of Calculating the Tax liability of VAT in Work Contract:- 1. Exemption Fee Method/Composition Method2. VAT Method 1 (Actual labour deduction)3. VAT Method 2 (Standard Labour Deduction) Exemption Fee Method /Composition Method

Effect of VAT and Service Tax on Restaurant Bills

Posted by CA. Ramya C 06 December 2014 52451 Views

Effect of VAT and Service Tax on Restaurant BillsThe Indian restaurant industry is worth Rs.75, 000 Crores and is growing at an annual rate of 7%. The industry is highly fragmented with 1.5 million eating outlets.We are so pleased with the food in su

Applicability of CST/ K-VAT on E-Commerce Transactions

Posted by CA Roopa Nayak 14 November 2014 36444 Views

Introduction The business model of e-com firms is they provide a platform for enabling sellers of goods to be able to sell without bou

Amendment in assessment under Punjab VAT Act, 2005

Posted by Amit Bajaj 10 November 2014 13270 Views

Now a days It is seen that the Excise and Taxation Department, Punjab has started issuing notices for amendment in assessment in many cases. These notices are being issued ussualy on the basis of audit objections received from State CAG or sometimes

Issues in issue of Form C under CST Act 1956

Posted by Mahadev 14 October 2014 28215 Views

Issues in issue of Form C in CST Mahadev.RFollowing are the goods specified u/s 8(3) of CST Act 1956 in respect of which an interstate sale to a registered dealer is liable to tax at concessional rates i.e. 2% or state rate whichever is

VAT Problems In E-Commerce Transactions - Amazon's Karnataka Case Study

Posted by CA Ankit Gulgulia (Jain) 07 October 2014 22575 Views

VAT Problems In E-Commerce Transactions Amazons Karnataka Case Study (A Potential Noscitur Principle Issue) E-commerce transactions in India are gaining popularity at the very fast pace majorly due to its attributes of ease of shopping

Issue of reversal of Input Tax Credit on Iron and Steel Goods

Posted by Rajeev 9814214503 30 September 2014 14182 Views

Question is:Whether in terms of Rule 21(8) reversal on the stock at the rate of 2.20% i.e. (4.95 minus 2.75 ) of the available Input tax credit on such closing stock should be made? Brief Facts are :Date of Notification of Reduced rate of VATNotifica

C Form and its implications

Posted by Arun Jain 25 September 2014 28649 Views

What is C Form? And what are its implications in current scenario?Provision of C Forms is in Central Sales Tax Act,1956. As the name suggest it is to be controlled by Central Government as all revenue goes to Central Govt. But in reality it is contro

Big change in Small retailers MVAT composition scheme from October

Posted by CA Umesh Sharma 23 September 2014 8392 Views

Karniti part 55 "Big" change in "Small" retailers MVAT composition scheme from October.Arjuna (Fictional Character): Krishna, what big changes has been made by Sales tax Department in Composition scheme for the small retail deal