VAT Articles

Major highlights of draft guideline on Goods and service tax

Posted by Jigar 18 November 2009 9402 Views

1. Central and state GST will apply on all transaction of goods and services. 2. Tax paid as central GST will be allowed to taken as input tax credit. 3. State GST will also be allowed to be taken as input tax credit. 4. Cross-utilisation of input ta

VAT's PROBLEMS AND ISSUES

Posted by NIDHI BANSAL 30 September 2009 58636 Views

Almost three-fourths of India has adopted the VAT regime, switching off its age-old sales tax system that had existed for more than 50 years. However, due to certain political and other considerations, some of the states have not joined the bandwagon

Brief note on Vat in Delhi

Posted by NIDHI BANSAL 30 September 2009 42967 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 13517 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 23824 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 69587 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 57144 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 23009 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 163099 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