VAT Articles

Service Tax on work contract

Sandeep Jadhav 09 February 2015 at 10:17

Works contract in itself is a very lengthy subject and law relating to Works Contract in Service Tax is available in a very scattered way. Important part in the defination of Work Contract: A contract where transfer of pr

Whether ITC reversal is to be made for export sales

RENGARAJ R.K 07 February 2015 at 11:17

R.K Rengaraj, AdvocateWhether Input Tax Credit (ITC) reversal is to be made on export sales without filing form W under Section 18 (3) of the TNVAT Act, 2006?.Introduction: Under TNVAT Act, 2006 there are two options available for the dealer in

Legislative history of filing stock statement as on 31st March of every year under DVAT Act, 2004

Kaushik Vinod 02 February 2015 at 10:18

INTRODUCTION:I shall begin my write-up with the wording of section 70 of DVAT Act which empowers Commissioner DVAT to issue notifications and prescribe v

Business doesn't pay taxes,it collects it

CA. Rajeev K. Sharma 24 January 2015 at 17:38

You cant tax business. Business doesnt pay taxes. It collects taxes. -A Discussion on recent VAT Provisions regarding Input Tax Credit What Ronald Reagan said on that evening in his office at Wilshire Boulevard Road, Cali

Evolution of WCT

Kaushik Vinod 20 January 2015 at 10:41

EVOLUTION OF WORKS CONTRACT TAX (WCT) BACKGROUND:This article is basically written to give you understanding of evolution of works contract tax in India and its entire journey from beginning till date. Before I take you into the mid of ocean we have

MVAT Dealers, Have you checked the new "Dealer Information System"?

CA Umesh Sharma 20 January 2015 at 10:40

Karniti Part 72MVAT Dealers,Have you checked the new "Dealer Information System"?Arjuna (Fictional Character): Krishna, Sales Tax Department has introduced a new "Dealer Information System". What is it? And what should every dealer do about it? Kris

Is reversal of input tax credit maintainable when the selling dealer's RC is cancelled?

RENGARAJ R.K 17 January 2015 at 13:18

Introduction: When a dealer purchases his inputs from his vendor and claims the eligible Input Tax Credit (ITC), with a bonafide beli

Kite Fight of VAT Dealer and Department

CA Umesh Sharma 12 January 2015 at 10:48

Karniti Part 71Kite Fight of VAT Dealer and DepartmentArjuna (Fictional Character): Krishna, this Year "Makar Sankranti" is on 15th January and also the last date of submission of Maharashtra VAT Audit Report. There is Happiness everywhere because of

Works contractors are also eligible for advance VAT exemption - P&H High Court

Amit Bajaj 09 January 2015 at 11:05

The Punjab & Haryana High Court in CWP 19835 of 2014 Ayyappa Infra Projects Pvt Ltd vs State of Punjab has directed the State of Punjab to issue clarification to the effect that works contractors are also eligible for exemption from advance VAT

Eligibility of refund claim on sales made to 100% EOU

RENGARAJ R.K 07 January 2015 at 10:54

Whether Refund is eligible to a dealer who makes sales to 100% EOU treating it as Export sales?Introduction: In the recent judgment of Madras High Court in the case of Emerald Stone Export, Pudukottai Vs The Assistant Commissi