Punjab VAT :: Amendments towards implementation of E-trip in Punjab

Punjab VAT Act, 2005 has been amended empowering the Excise & Taxation Commissioner, Punjab to implement electronic governance for carrying out various provisions of the Act. This may be a step towards implementation of E-Trip in Punjab. A new Section 3-A under the Punjab VAT Act, 2005 has been inserted which runs as follows: 3-A:… Read More

Tags: Constitutional amendmentE-GovernmentGood (economics)ImplementationNew DelhiPunjabTaxValue Added Tax

Kerala VAT issues instructions on Digitally signed downloaded Form No.15 Delivery Note

No.C1-12107/2012/CT Office of the Commissioner of Commercial Taxes Tax Tower, 8th Floor Karamana Thiruvananthapuram 695002 Dtd.01 / 04 / 2013 CIRCULAR No.3 / 2013 Sub:- KVAT Act, 2003  Digitally signed downloaded Form No.15 Delivery Note  Instruction issued  reg. Ref:- Circular No.21/2012, 25/2012 and 30/2012 In Para 454 of Budget Speech, 2013-14, Hon™ble Minister for Finance had announced that At present… Read More

Tags: AppealDelivery NoteForm no 15Government circularIncome taxKerala VATKVATTax

Kerala VAT Rules & Procedures for Refund through KVATIS

ITMC-6/ 2011/CT Office of the Commissioner Commercial Taxes Department Thiruvananthapuram Dt. 01/04/2013 CIRCULAR No. 2 / 2013 Sub: Kerala Value Added Tax - Refund through KVATIS - Rules & Procedures- Reg:- As part of the e-Governance initiative in Commercial Taxes Department, it has been decided to introduce online filing of refund applications from 1st April 2013… Read More

Tags: Internal Revenue ServiceKeralaKerala VATKVATISTaxTax creditTax refundValue Added Tax

Delay in filing TDS return through NSDL is a technical breach

CLR Editorial Notes: The Assessing Officer, in this case, had imposed a penalty u/s 272A(2)(k) for delay in filing the TDS return u/s 200(3) by the assessee. In the appeal argument given by the assessee, the delay was due to a shortage of staff. This was rejected on the ground of being an reasonable cause.… Read More

Tags: CITCuttackFiling (legal)GovernmentIncome taxNSDLTaxTax Deducted at SourceTDS

KVAT issues guidelines for Refund of wrong e-payments made by dealers

GOVERNMENT OF KARNATAKA Department of Commercial Taxes No.CCW/CR.03 / 2012-13 Office of the Commissioner of Commercial Taxes in Karnataka Vanijya Therige Karyalaya, Gandhinagara, Bangalore-9 Dated 26.3.2013 To, All the Joint Commissioners of Commercial Taxes (Admn), VAT divisions in the State. Sir, Sub: Refund of wrong e-payments made by dealers-issue of guidelines-reg. This office is receiving… Read More

Tags: AccountingInternal Revenue ServiceKarnataka Value Added TaxKVATMoney back guaranteePaymentTaxTax refundValue Added TaxVAT

MVAT amends earlier VAT notification to append new items w.e.f. 1st April’13

FINANCE DEPARTMENT Madam Cama Marg, Hutatma Raj guru Chowk, Mantralaya, Mumbai 400 032, Dated the 30th March 2013. NOTIFICATION Maharashtra Value Added Tax Act, 2002. No. VAT 1513/ C.R. 46 (2)/Taxation- l.” In exercise of the powers conferred by entry 2 of SCHEDULE A' appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the… Read More

Tags: Finance DepartmentFinance MinisterMaharashtraMaharashtra Value Added Tax ActMantralayaMVATNew DelhiTaxValue Added Tax

Extracts of Tax Proposal in Goa’s Budget for 2013-14

Chief minister Manohar Parrikar who is also the minister for finance to present Goa's budget for 2013-14 on 18th March 2013. Extracts of Budget Speech on VAT,  Luxury Tax, Entry Tax & Entertainment Tax 1.         Speaker Sir, I now turn towards the tax proposals for the year 2013-14. The various schemes and interventions towards the… Read More

Tags: Budget 2013-2014GoaGoa BudgetGovernmentInvoiceManohar ParrikarTaxValue Added TaxVAT

Offline Version of ST 3 modified format now available for e-filing on ACES site

The message from ACES Administrator dated 26-3-2013 Service Tax Return (ST 3) for the period 1st July-30th September, 2012 is now available in a modified format for e-filing in ACES. Only offline version is available and there is no online version. The utility needs to be downloaded afresh from 'DOWNLOADS' section of ACES website,… Read More

Tags: ACESAppealExciseFiling (legal)MarchService taxTaxTax return (Canada)

Supersession to DVAT Notification regarding submission of information in Form T-2

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE  EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 No.F.7(433)/Policy-II/VAT/2012/1349-1359 Dated :11.03.2013 NOTIFICATION In supersession of Notification No..F.7(433)/Policy-II/VAT/2012/585-595 dated 05.09.2012 and all the subsequent notifications regarding submission of information in Form T-2, I, Prashant Goyal, Commissioner, Value… Read More

Tags: CommissionerDelhiDelhi Value Added Tax ActInvoiceNew DelhiPrashant GoyalTaxValue Added Tax

CBEC to keep all offices Opened during the Last Week of March, 2013

Central Board of Excise and Customs (CBEC) has decided to keep open its field formation offices on 29th, 30th & 31st March 2013 as a trade facilitation measure and as part of revenue collection exercise. All the field formations have also been directed to issue trade notices for the information of the trade. Department of… Read More

Tags: CBECCentral Board of ExciseCentral Board of Excise & CustomsFinancial servicesGovernment of IndiaIndiaNew DelhiTax

IT Department Urges Taxpayers to Pay all Self- Assessment Tax Dues by 31ST March

The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) reveals that nearly 73,388 taxpayers have defaulted on such payments aggregating to Rs. 3,859 crore. Income-tax Department urges… Read More

Tags: Accounts payableAdvance corporation taxDefault (finance)Filing (legal)Fiscal yearIncome Tax ActPaymentProperty taxTax

Long term Capital Gains on Share transfer of Indian Listed Cos. between foreign entities exempt from tax – Goodyear case

Background: In 2011, US based manufacturer Goodyear Tire and Rubber Company had transferred 74% of its holding in Goodyear India to its subsidiary in Singapore without taking any consideration. The Indian Tax claimed that there is a tax implication in this transaction, while the Authority for Advanced Ruling (AAR), ruled that this particular transaction is not subject to… Read More

Tags: Capital GainDelhi High CourtIndiaLong-Term Capital ManagementSingaporeTaxTax treatyUnited States

Press release on Tax Related FAQs

FREQUENTLY ASKED TAX QUESTIONS BY QUALIFIED FOREIGN INVESTORS (QFIs)1 PRESS RELEASE, DATED 26-12-2012 Q.1. What is Permanent Account Number (PAN) Card? Ans: Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department of India to any "person" to facilitate him in making tax payments filing, returns and claiming refunds. The number,… Read More

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