VAT Articles

Brief note on Vat in Delhi

Posted by NIDHI BANSAL 30 September 2009 42964 Views

India, particularly the trading community, has believed in accepting and adopting loopholes in any system administered by the state or the Centre. If a well-administered system comes in, it will close avenues for traders and businessmen to evade payi

GOODS AND SERVICE TAX -HOW AND WHY????

Posted by CA Sudhir Halakhandi 28 August 2009 22704 Views

GOODS AND SERVICE TAX: - HOW AND WHY??????- CA SUDHIR HALAKHANDIIn 2006 when the then Finance Minister Mr. P Chidambaram announced the intention of the Government to introduced Goods and Service Tax in India in 2010, the pronouncement was very simple

Value Addition in VAT audits

Posted by Madhukar N Hiregange 10 April 2009 13515 Views

VALUE ADDITION DURING VAT AUDITMadhukar N Hiregange FCA Many states in India have started asking the professionals ( sometimes Chartered Accountants only) to carry out a VAT audit similar to the Tax audit as envisaged under Income Tax. This is a mov

ACCOUNTING IN VAT

Posted by DR GAURAV GUPTA FCA, FCS, LL.B 03 March 2009 23822 Views

RECORDS AND ACCOUNTING UNDER DVAT MEANINGVAT is a multi-point tax on value addition which is collected at different stages of sale with a provision for set-off for tax paid at the previous stage/tax paid on inputs.Under the VAT Act there is only one

HISTORICAL BACKGROUND OF VAT

Posted by dheeraj kr singh 03 February 2009 69579 Views

Ever since 1954, when the tax on value added was introduced in France it has spread to alarge number of countries. This tax was proposed for the first time by Dr. Wilhelm VonSiemens for Germany in 1919 as an improved turnover tax. In 1921, VAT was su

VALUE ADDED TAX FOR STUDENTS

Posted by CA Sudhir Halakhandi 13 January 2009 57142 Views

HERE IS VAT SPECIAL FOR CA STUDENTS -WRITTEN TWO YEARS BACK- CA SUDHIR HALAKHANDI VALUE ADDED TAX IN INDIA – A COMPREHENSIVE STUDY - CA SUDHIR HALAKHANDI VAT i.e. the Value added tax is relativ

Sub-contract

Posted by Vasanth Kumar J K 08 October 2008 23007 Views

Back to Back Contract – Case Study Works Contract subject is a maze of complexities. The judgments given by courts contradict in such a manner that the dealer is perplexed. Case: Mr. M is a main contractor. He receives contract from Mr. C (cu

A Comprehensive Note on Input tax Credit under Gujarat VAT

Posted by CA Pradip Shah 07 July 2008 163089 Views

Input Tax Credit Under Gujarat Value Added Tax Act A Comprehensive Note on Input tax Credit under Gujarat Value added Tax ActBy CA. Pradip R Shahe-mail: pradip_shah@vsnl.comINDEX Description

VAT and Sales Tax System - A Comparative Analysis

Posted by Sathish Karunakaran 31 October 2007 30637 Views

Value Added Tax and Sales Tax: A Comparative Analysis Preamble Value Added Tax (VAT) is a system of indirect taxation which is currently employed by nearly 136 countries across the world. In India, VAT, being a current tax reform, captu

Applying VAT on international trade

Posted by CA Nikita 15 October 2007 10565 Views

International trade in services has expanded rapidly as a result of globalisation, aided significantly by the revolution in communication technology. This expansion has coincided with the global spread of Value Added Tax (VAT), with some 140 countrie