VAT Articles

Levy of penalty or interest for non submission of C forms

Posted by Amit Bajaj 09 May 2011 226311 Views

As we know C forms are required to be submitted by a seller with the sales tax authorities after obtaining the same from the purchaser of goods if the sale is an interstate sales and CST has been charged at concessional rate of 2% as per the require

CENVAT

Posted by Sathya Sankeerth K N 10 May 2011 23911 Views

CENVAT Basic purpose of VAT is to avoid cascading effect in the payment of taxes to the government. Its main advantage can be found as fall in the payment of taxes by the ultimate consumer. CENVAT also comes in the same format but is structured in

Remand of penalty orders in appeal whether justified?

Posted by Amit Bajaj 09 April 2011 7960 Views

Meaning of Remand:When an appellate court sends an appealed case back to the trial court for further action, the case is said to be remanded. This usually happens if the trial judge has made an error which requires a new trial or hearing. Under Ta

Goods and Services Tax Council: Alternative to Federal Economy

Posted by Rabish Chandra 30 March 2011 9981 Views

IntroductionIndia's Finance Minister Shri Pranab Mukherjee on 22nd March 2011 introduced Goods and Services Tax Bill in Parliament. In fact this bill is basically the constitutional amendment bill proposing for the provision of simultaneous powers on

Extension of Limitation period for assessment under PVAT Act

Posted by Amit Bajaj 17 March 2011 14092 Views

Section 29(4) of Punjab VAT Act 2005 provides that an assessment u/s 29(2) or 29(3) may be made within three years after the date when the annual statement was filed or due to be filed, whichever is later. Proviso to the said sub sec

Right of appeal | An Insight

Posted by V. SRIKANTH 01 May 2021 11761 Views

A Division Bench of the Kerala High Court considered the validity of section 17D(5) of the Kerala General Sales Tax Act, 1963. The said provision provided that appeals against the assessment orders issued under the fast track method shall lie wit

Ceiling rate on Declared goods under CST Act incresed to 5%

Posted by Amit Bajaj 02 March 2011 32111 Views

It has been proposed in the Budget 2011-12 to increase the ceiling of 4% on declared goods under section 15 of CST Act to 5%. Currently State Governments cannot levy VAT more than 4% on declared goods. Declared goods are those goods which are of

Penultimate Sales under CST Act 1956-Submission of H forms

Posted by Amit Bajaj 14 February 2011 123624 Views

Tax by State Governments on sales or purchase of goods made during the cource of import or export of such goods is prohibited by article 286(1)(b) of the Constitution of India. Section 6(1) of CST Act also levies tax on interstate sales hence there

Exemptions available to SEZ unit from CST

Posted by Amit Bajaj 12 February 2011 188516 Views

Section 8(6),8(7) and 8(8) of the CST Act deals with the exemptions available to a SEZ unit or SEZ developer from CST. When goods are sold to a SEZ unit or SEZ developer then no CST is payable by such unit or developer as per the above sub sections

Internationally - Goods and Service Tax

Posted by Member (Account Deleted) 20 January 2011 13243 Views

VAT/GST provisions in countries other than India are quite streamlined and stable. As the Law in India is still not a reality we might look into the provisions which are in place since quite long and access the structure of rate, exemptions etc. 1. A