VAT Articles

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

Posted by CA Ankit Gulgulia (Jain) 07 October 2014 22586 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 14196 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 28677 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 8405 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

Haryana VAT for Developers - A Sea of Uncertain Territories & Way Forward

Posted by CA Ankit Gulgulia (Jain) 03 September 2014 5906 Views

Continuing from my earlier writings on the subject matter of Haryana Vat for developers and builders, it is quite noteworthy that the recently implemented notification of 1% composition scheme as prescribed under new inserted Rule 49A of Haryana Rule

Whether MVAT TDS is transferable ?

Posted by Gopal Navandar 29 August 2014 15543 Views

Whether MVAT TDS credit can be transferred in favour of Sub contractor?-Guiding sections are sec. 31(4) and Sec.45(4) of MVAT ACT., rule 50, Form 406, 407,408,409.- Unlike Income tax, TDS under MVAT is single point, hence intention of legislature is

Why is Maharashtra States Businessmen's mood off? It's due to issues of MVAT setoff

Posted by CA Umesh Sharma 26 August 2014 15946 Views

Karniti Part 51:Why is Maharashtra States Businessmen's mood OFF? It's due to issues of MVAT SETOFF. Arjuna (Fictional Character): Krishna, businessman

For MVAT followers No "Raksha" Only "Bandhan"

Posted by CA Umesh Sharma 11 August 2014 11095 Views

Karniti part 49For MVAT followers No Raksha Only Bandhan Arjuna (Fictional Character): Krishna, yesterday festival of Raksha Bandhan was celebrated. On this occasion Maharashtra Sales Tax Department has issued a Trade Circ

Be Alert! Border Check Post by Sales Tax Department of Maharashtra is here

Posted by CA Umesh Sharma 22 July 2014 10733 Views

Karniti Part 46Be Alert! Border Check Post by Sales Tax Department of Maharashtra is here Arjuna (Fictional Character): Krishna, In Maharashtra 32 New Check Post have been constructed, it means that on Maharashtra border every Inward a

A Welcome step by CCT to resolve the ITC Problem under Raj Vat

Posted by PAWAN KUMAR KEDIA 07 July 2014 25226 Views

Recently CCT Rajasthan has issued a Circular No. F.26(197)ACCT/MEA/2013 dt. 09.06.14 to resolve problems of ITC mismatch under Rajasthan VAT Act 2003. First of all I appreciate the CCT tha