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Tax Connect (With GST) - 78th Issue #pdf
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TAX CONNECT – 78th Issue TAX CONNECT ADVISORY SERVICES LLP (24 Jul 2016 – 30 Jul 2016) Page 1 TAX CONNECT 78th Issue 24 Jul 2016 – 30 Jul 2016 INCOME TAX CENTRAL EXCISE SERVICE TAX GST CUSTOMS STATE TAXES TAX CONNECT ADVISORY SERVICES LLP Kolkata: 1, Old Court House Corner ^Toao House_ ￿t Floor Room No.-13 (North) Kolkata-70001 West Bengal Vadodara: Quarter no. 3/174 Gujarat Refinery Township Jawaharnagar Vadodara-391320 Gujarat Contact: +919331042424; +91931594980; +918697575185; +913322625203 Email:;; TAX CONNECT – 78th Issue TAX CONNECT ADVISORY SERVICES LLP (24 Jul 2016 – 30 Jul 2016) Page 2 WORKSHOP ON GST TAX CONNECT – 78th Issue TAX CONNECT ADVISORY SERVICES LLP (24 Jul 2016 – 30 Jul 2016) Page 3 Friends The Government and Congress are set to engage in further consultations over GST and the parliamentary affairs ministry is planning a 5 hour debate in Rajya Sabha in this regard. This may be seen as a sign of an understanding on Congress's demand that a tax rate of 18% may be ring fenced. The Centre is considering discussions with individual parties rather than an all- party meeting as it looks to address Congress's demand for a guarantee that the tax rate will be capped at 18%. Regarding Entry Tax , The Supreme Court has shrugged off the Attorney General's suggestion that entry tax imposed by states no longer needs a debate as the Goods and Services Tax (GST) Bill will subsume it. The hearing has also come up before 9-member bench of Supreme Court this week. The Bench has formulated the following broad questions of law that would aid in settling the constitutional validity of levy of Entry Tax: (a) Can the levy of tax per se constitute an infraction of Article 301 of the Constitution? ~ Does a ta￿ ￿ih is Zoupevsator￿[ iv vature ￿olate Article 301 of the Constitution? (c) If the answer to the above question is in the negative, what are the tests to determine if the tax / levy is compensatory in nature? (d) Is Entry Tax levied by States violative of Article 301 of the Constitution? Iv VAT, iv the ase of Kuuar’s Metall urgical Corporation Ltd. Versus The State of Telangana and two others, The Hov’le ANDHRA PRADESH HIGH COURT has held that even if any tax is due from the petitioner, denial of the way-bills is not the proper way to recover the tax. The case was due to Blocking TIN Number of the petitioner- company from accessing the facility i.e. the website of the respondents- authorities ( for issuivg statutor￿ ^C_ Delaratiov Forus/Wa￿-bills to its sellers. The VAT Departments may please take note of the same. In Service Tax, in the case of Magma HDI General Insurance Company Ltd. vs Union of India & others, The Hov[le High ourt at Calutta has ruled iv fa￿ur of the assessee where the Vires of Rule 5A(1) of the Service Tax Rules was under challenge on the ground that the same is ovtrar￿ to “etiov 8￿f the Fivave At. The Hov[le High Court was of opinion that law is well settled that a subordinate legislation owing its origin to an enactment cannot suppress but only supplement it, pursuant to the pr emise that a stream cannot rise over its source Just to reiterate that we remain available over a telecom or e-mail. Truly Yours Timir Baran Chatterjee M.Com, FCS, MBA (International Business)-IIFT, ACMA Vivek Jalan FCA, CIDT (ICAI), B. Com EDITORIAL TAX CONNECT – 78th Issue TAX CONNECT ADVISORY SERVICES LLP (24 Jul 2016 – 30 Jul 2016) Page 4 S.NO. TOPICS PAGE NO. 1] COMPLIANCE CALENDAR 5 2] GOODS & SERVICE TAX (GST): MODEL GST LAW, 2016 –TRANSITIONAL PROVISIONS contd.. 6 3] CENTRAL TAXES a) SERVICE TAX 7 Case Law If department is unable to make any demand as per 5A(2), gaining access to assesse es premises or taking of coercive action cannot be done. Case Law If an assessee has paid CENVAT credit on taxable activity & shows reasonable cause for availing CENVAT credit attributed to such activity, Penalty U/S 78 may be waived, after due conside ration by the revenue. b) Central Excise 8 Case Law If the assessee demonstrates that tax effect is not minimal & establishes t hat material documents & evidences are placed with the dept, then review petition against the order from dept can be allowed. Case Law Since there is no heading in Central Excise Tariff such as 98.01, if condition no 86 of N otification No. 21/2002, dated 1-3-2002 is fulfilled by any assessee, exemption cannot be denied in respect of c) Customs 9 Notification/Circular Revision of exchange rate of foreign currencies into rupee & vice versa Notification/Circular Fixation of TV of edible oil, brass, poppy seed, areca nut, gold and sliver Notification/Circular Rescission of notification no. 18/2003-customs dated 1st march, 2003 d) Income tax 10 Notification/Circular Amendment in The Income Declaration Scheme, 2016 Notification/Circular Notification of Backward areas of districts Notification/Circular Clarifiatiov regardivg ￿riatiov et￿ev aru[s levgth prie uvder douesti & ivterv atioval transactions 4] State taxes 11 Notification/Circular Chavdigarh: VAT foru ￿ has eev auevded ￿ivtrodutiov of ^The Chandigarh Value Added Tax ~Auevduevt ‘ules, ￿￿._ Kerala: Introduction of finace bill 2016- 17 Madhya Pradesh: Amendment in Schedule II of the Madhya Pradesh VAT act, 2002 Tripura: Security deposit fixed for different class of dealers Bihar: Extension of period of operation of "THE BIHAR SETTLEMENT OF TAXATION DISPUTES A CT, 2016" Chattisgarh: Exemption from Payment of entry tax to specified dealers 5] IN STANDS - GST: MODEL LAW 2016 & BUSINESS PROCESSES : A TECHNICAL COMMENTARY 12 6] BOOK EXCLUSIVELY ON WORKS CONTRACT ( SERVICE TAX AND VAT) 13 INDEX TAX CONNECT – 78th Issue TAX CONNECT ADVISORY SERVICES LLP (24 Jul 2016 – 30 Jul 2016) Page 5 Due date COMPLIANCES FROM 24thJuly, 2016 to 30rd July, 2016 STATUTE 25th July, 2016 Filing of monthly/quarterly VAT return Delhi (Quarterly, if filed online) Jharkhand (Monthly) Issuance of WCT certificate West Bengal VAT Act (Monthly) Mizoram VAT Act (Monthly) 28th July, 2016 Deposit of VAT of previous month Arunachal Pradesh VAT Act Filing of monthly/quarterly/annual VAT return Arunachal Pradesh (Monthly, if annual turnover>Rs. 1 crore) Arunachal Pradesh (Quarterly,if annual turnoverRs 5 crores) Himachal Pradesh VAT Act (Quarterly, if Turnover in PY is

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