CONTENTS. u Chapter-heads I-5 u Central Sales Tax Act, 1956 : Section-wise Index I-27 OBJECTS AND BASIC SCHEME OF THE CST ACT
|
|
- Noreen Norris
- 5 years ago
- Views:
Transcription
1 CONTENTS u Chapter-heads I-5 u Central Sales Tax Act, 1956 : Section-wise Index I-27 1 OBJECTS AND BASIC SCHEME OF THE CST ACT 1.1 Introduction Objects of CST Act Basic scheme of the CST Act Inter-State and Intra-State Sale Taxable event in sales tax Categories of Sales Recovery from customer is not essential for sales tax Background of CST Act Historical background of CST Act Recent Changes Incompatibility of VAT and CST 9 2 CONSTITUTIONAL BACKGROUND OF CST 2.1 Constitution of India Administration of State Judicial Organ Legislative Organ Administrative Organ Taxation under Constitution Union List relevant to taxation State list pertaining to taxation Aspect theory of taxation Service tax and VAT (sales tax) are mutually exclusive, Vat cannot be imposed on value of service 15 I-7
2 CONTENTS I Restrictions on powers of taxation No restriction on Inter-State Trade and Commerce Limitations of Taxation Powers Sales Tax does not directly affect free movement of goods Tax on local goods and goods from other States must be same Constitutional validity of Entry Tax 22 3 INTER-STATE SALE 3.1 Charging section of CST Meaning of Inter-State Sale Sale which Occasions movement of goods Sale should occasion movement of goods Property passing in the State where sale takes place Contract did not provide movement of goods, but movement of goods incident of contract of sale Case where movement inextricably connected with sales Dispatch through depot or branch only for name sake Person buying goods in one State and necessarily despatching to another State Goods moving under agreement to sale is also Inter- State sale Goods moving as per condition of supply Cases where movement of goods was compulsory as per statutory provisions Contract need not be in writing - it can be inferred also Sale not inter-state if movement of goods is not related to contract for sale Sale can be inter-state even if goods are processed after clearance from place of dealer Sale direct to ultimate buyer but delivery through local dealer Inter-State sale even in case of works contract Temporary movement through another State is not Inter-State sale Sale not inter-state simply because buyer is from outside the State Auction sale 42
3 I-9 CONTENTS 4 INTER STATE SALE BY TRANSFER OF DOCUMENTS 4.1 Document of title and its transfer What is Document of Title of Goods Transfer of Document Sending documents through Bank What is transfer during Movement of Goods Movement of goods is complete only when delivery is taken All sales during movement of goods can be under section 3(a) of CST Act? Contract for subsequent sale should be after commencement of movement of goods? Precautions to be taken to ensure that dealer is not affected by SC decision in A & G Projects Illustrations of transfer during movement of goods Buyer and seller can be in same State Buyer in one state, goods bought from another State, but goods despatched to third State Goods transferred to another buyer as first buyer did not take delivery Sale through commission agent is not covered if property does not pass to him 55 5 STOCK TRANSFER/BRANCH TRANSFER 5.1 Background of stock transfer Stock transfer for works contract No stock transfer of tailor made goods Consignment Agent Agency need not be in writing Payment of advance by agent does not mean that the agent is purchaser Principal need not be registered in the State where consignment agent is operating Distinction between contract of sale and contract of agency Distinction between commission agent, consignment agent and C&F agent When Stock Transfer is treated as Inter-State sale Illustrations where claim of stock transfer not upheld 60
4 CONTENTS I Goods despatched through depot but only one known buyer Goods despatched through agent to buyer already identified Buyer identified before removal of goods from factory Direct despatch to buyer from factory Submission of C form at appellate stage if transaction held as inter state sale Illustrations where claim of stock transfer was upheld Movement of standard goods not inter-state sale even if there were firm orders in other State Movement of goods for mixing in other State or using for manufacture in other goods and then ultimate sale Consignment agent paying advance does not mean it is inter-state sale Double taxation when stock transfer held as sale Comparison between Stock transfer and direct sale F form for stock transfer Burden of proof in case of consignment despatches F form is mandatory Submission of F form is not a conclusive evidence, but it is conclusive after Assessing Officer passes an order Form F required if goods sent outside the State for job work, repairs etc Goods can be sent to other State for further manufacture Enquiry regarding truth of contents in Form F can be conducted at the time of assessment or even later Contents of Form F Procedural requirements in respect of issue of form F F form only in case of completed transactions, not in case of rejection Missing F form does not mean that goods moved Penalty if details in invoice and F form contradictory 77 6 SALE OUTSIDE THE STATE 6.1 Background What is Sale outside a State Sale inside a State 79
5 I-11 CONTENTS 6.2 Location of goods is vitally important Sale when goods are ascertained Inter State sale is not sale inside State Inter State sale or sale during export is not intra-state sale Illustrations of Intra-State sale Sale when there is no foreign destination Sale to ship which is within territorial waters is local sale Territorial Waters of India Sale to foreign going vessels from bonded warehouse Sale by transfer of documents when goods are in bonded warehouse Situs of sale in Inter State Sale or during export 87 7 GOODS UNDER CST ACT 7.1 Definition of goods Goods must be movable Plant & machinery assembled at site is not goods Newspapers are not goods for purpose of CST Act and State Act Stock, shares etc. not liable under CST Actionable claim is not goods Sale of business is not sale of goods Definition of goods as per Constitution Intangible articles are goods Electromagnetic waves transmitted through telephones is not goods Can there be inter-state sale of intangible goods? Software Development of software for customer is not sale of software Distinction between copyright and copyrighted software Excise duty and service tax on software Position w.e.f Renewal of license of packaged software Summary of taxability of Information Technology Software Position prior to Can service tax be imposed on IT software? 112
6 CONTENTS I-12 8 SALE UNDER CST ACT 8.1 Sale and deemed sale Essentials of valid conventional sale Sale must be a complete sale Ascertained goods Sale of illegal goods is taxable Free supply is not sale Sale to oneself can also be sale, if capacities are different Transaction between two companies during the effective date of amalgamation and actual date of order of HC is stock transfer and not sale Sale and purchase are complimentary terms Transfer of Property essential in sale No sales tax on mere agreement to sale Transactions which are not sales Charge/mortgage/hypothecation/pledge is not sale Job Work/processing Consignment/depot transfer/branch transfer Barter or exchange or loan of goods is not a sale Loan transaction is not sale - Same goods need not be returned Transfer of goods to partner on dissolution of partnership is not sale of goods Supply of material to contractor in case of works contract can be sale No tax if despatch is on account of contract of agency Test whether sale is by Agent or by Principal Sale under Sale of Goods Act Sale as defined in Constitution DEEMED SALES UNDER CST ACT 9.1 Transactions which are deemed sale Compulsory sale is taxable Goods involved in works contract Hire Purchase is Sale Hirer is not owner of goods 132
7 I-13 CONTENTS Goods must be returned to owner if buyer company is wound up Owner can take possession in case of default Distinction between hire purchase and instalment purchase Distinction between hire purchase and hire purchase finance There can be inter-state sale in hire purchase or lease Transfer of right to use (like leasing and hire) Transfer implies exclusive possession to transferee Meaning of transfer of right to use goods Hire of goods when taxable Right to exhibit or telecast of films and programmes Right to use trade mark can be taxed Rental charges for gas cylinders Hiring of lockers is not taxable Sale price in case of hire or leasing or hire purchase transaction Situs of sale in case of transfer of right to use goods Providing telephone apparatus and other appliances to subscriber is not transfer of right to use the goods Leasing Financial and Operating Lease Meaning of Financial lease Distinction between hire purchase and lease Distinction between hire and lease Tax only on goods and not on lease/hire of immovable property Earlier case law in respect of lease in inter-state transaction Lease transaction can be inter-state sale No sales tax on Sale and lease back? Sale to member of unincorporated association or body of persons Sale of food articles Sale in canteen to workmen is also taxable GOODS INVOLVED IN WORKS CONTRACT 10.1 Works contract and deemed sale What is works contract Sales tax (Vat) is on goods involved in works contract and not on works contract as such 161
8 CONTENTS I Meaning of goods in other form No transfer of property in goods if material gets exhausted/evaporated in execution of works contract Only one deemed sale and one taxable event even when work is done by sub-contractor Distinction between contract of sale and a works contract Transfer of property should be during execution of works contract Dominant intention need not be transfer of property How to distinguish works contract from sale Main object should not be to transfer chattel as chattel Intention of parties is to be seen Person executing works contract never has property in goods as whole Mode of payment does not determine whether it is a works contract No standard test can be laid down Main goods should belong to the buyer? Severable contract or divisible contract Works contract if contract for construction is made with prospective buyer Distinction between contract for sale of immovable property and sale of immovable property If any payment is obtained from customer prior to obtaining completion certificate, it will be deemed service and service tax is payable w.e.f This amendment does not apply to works contract service Effect of the amendment Contract of skill & labour Basic distinction between sale of goods and works contract No actual sale in case of works contract Amendment to cover sales tax on goods in works contract Indivisible contract artificially converted into sale contract Illustrations of works contract Building Contract Tailor and garment Supply and fixation of rolling shutters Retreading of old tyres 180
9 I-15 CONTENTS Photographic Work Giving Xerox copy Supply of printing material as per requirement of buyer Contract for supply designing, supplying, erection and commissioning Supplying spare parts in repair contract or maintenance contract Other illustrations of works contract Illustrations where transaction was held as sale not works contract Job work and works contract Contractor need not be owner of flat if he sells flat before construction Value liable for Works Contract Tax Tax can be only on value of material Deductions permissible while calculating value for purpose of tax Composition scheme permitted Rate can be different from other goods Value of material supplied by buyer to be added to sale price Royalty payable cannot be included for purpose of works contract tax Whether Vat is payable on service tax portion in Case of works contract Valuation rules to determine sale price of works contract CST on immovable property in works contract Works contract of movable property Inter-State Works contract in case of immovable property State cannot artificially treat Inter-State works contract as local sale Judgments that there can be Inter-State Works Contract Other aspects relating to works contract Supply of material to contractor can be a sale C form can be supplied/received for purchases/sales for works contract TDS on works contract Taxability of BOT projects Income Tax provisions Service tax on works contracts 204
10 CONTENTS I DEALER UNDER CST ACT 11.1 Person liable to pay CST Dealer Ancillary, incidental and casual business is also covered Government as dealer Government company or corporation is not Government Government dealer only if it carries on business of selling, buying of goods etc Government can be dealer if specifically included in the definition of dealer Customs and excise department selling confiscated goods are dealers Railways is dealer Agent as a Dealer Definition of dealer includes Agent Intermediaries are not to be registered Transporters and C&F agents are not dealers Distinction between contract of sale and contract of agency Agent can be dealer if principal undisclosed Club as a dealer Other persons held as dealer State Road Transport Corporation is a dealer Insurance company is a dealer Pawnbroker as dealer Bank/NBFC can be dealer in respect of sale of pledged/hypothecated goods Auctioneer is not a dealer Hospital selling drugs to patients is dealer Agriculturist is not dealer Collection of tax only by registered dealer Dealer liable even if he does not collect sales tax BUSINESS UNDER CST 12.1 Definition of Business Business Main activity should be business 219
11 I-17 CONTENTS 12.3 Sale of business is not business Incidental business can be taxed Transactions held as incidental to business Transactions held as not incidental to business History behind expanded definition of business Person under CST Act STATE RELEVANT TO A DEALER 13.1 Meaning of Appropriate State Appropriate State Place of Business State authorised to collect tax Liability in case of subsequent sale State authorised to collect tax when chain of transfer of document is broken Two State Governments cannot tax same transaction QUANTUM OF CST PAYABLE 14.1 Rate of Central Sales Tax CST rates to various categories, as applicable upto State sales tax to be inclusive of additional tax/surcharge/turnover tax Calculation of Sales Turnover Turnover Round off of CST payable Prescribed period under CST Value must have relation to sale of goods at the time of sale Service tax and VAT (sales tax) are mutually exclusive, Vat cannot be imposed on value of service Effect of changes in sales tax rates after contract of sale on the price of goods as agreed in the contract Aggregate Sale price Terms of contract are important, how invoice is prepared is not relevant Entire amount payable as consideration for sale can be taxed 242
12 CONTENTS I Entire consideration of sale, even when price is statutorily fixed Inclusions in Sale price Any sum charged for by dealer at or before delivery Central Sales Tax Taxes and duties on goods sold Packing material and packing charges Cost of freight Incentive paid to supplier when includible Dharamda (Charity) Other charges which are includible Exclusions from sale price Discounts Freight, transport and other charges for delivery of goods Subsidy paid by Government not part of turnover Duty refunded on deemed exports is not includible Export incentives to seller Duty drawback on exports Deposits for returnable containers Transit Insurance Cost of installation and commissioning Valuation when value includes value of service Free of cost material supplied by customer Royalty paid for mining lease Post delivery Charges not connected with sale of goods not includible in sale price Handling charges of motor vehicle Goods returned/rejected Sale price in case of works contract Whether VAT is payble on service tax portion in case of works contract GOODS ELIGIBLE FOR REGISTRATION BY DEALER 15.1 Goods at concessional rate Goods which can be purchased at concessional rate Meaning of for use Goods intended for resale 263
13 I-19 CONTENTS 15.3 Goods for use in manufacture New and identifiable product must emerge in manufacture Goods for any process integral with ultimate production eligible Items eligible/not eligible for concessional rate Job work eligible - Goods need not be sold by the manufacturer himself Dealer need not himself be the manufacturer, he can be trader Goods need not be manufactured or re-sold in the same State Goods can be manufactured outside the State and then brought in the State of purchase, under concessional rate of CST Use for agricultural production not permitted Items declared as eligible by Government circular Illustrations in respect of eligible/not eligible goods Goods for use in processing What is a process Goods for use in telecommunications network Goods for use in mining Goods for use in power generation/distribution Packing material Raw material purchased by newspapers eligible EXEMPTIONS FROM CST 16.1 Exemptions and exclusions from CST Subsequent sales by transfer of documents Conditions for exemption Certificate required Declarations in E-I and E-II forms Contents of E-I declaration Contents of E-II declaration Some provisions of C form applicable to E-I/E-II forms Submission of both E-I/E-II forms from seller and C form from buyer is mandatory Lower rate if local sales tax rate is lower than 2% Inter State Sales to unregistered dealer exempt, if sale within the State was generally exempt 286
14 CONTENTS I Exemption by notification Competition among States States have agreed to stop unhealthy competition State Government cannot waive condition of submission of C form Exemption can be for whole year even if notification issued in middle of year but what about increase in middle of the year Sales tax may be payable on packing even if goods are exempt Sale during Import/Export Exemption from CST if sale to SEZ unit or SEZ developer What is SEZ Goods that can be obtained by SEZ without CST SEZ unit has to submit I form Exemption to supplies to foreign missions/un etc Constitutional validity of exemption provisions SALE IN COURSE OF EXPORT 17.1 Constitutional background of export sale Export sale and sale in the course of export What is Sale in course of Export Purchase of aviation turbine fuel by Indian carriers and foreign aircrafts flying abroad Sale should occasion the export Goods should be destined to foreign country, though actual reaching of destination not necessary Sale outside territorial waters but within Exclusive Economic Zone is export Purchase by branch for transfer to other State for ultimate export is in course of export Goods must physically move out of India-mere payment in foreign exchange not sufficient Sale in course of export by transfer of documents Meaning of Crossing Customs Frontiers of India Exports with help of or through agents Export through agents Penultimate sale for export Purchase prior to penultimate sale not exempt Normal wastages allowed 311
15 I-21 CONTENTS This is not a deemed export Pre-existing arrangement essential Same goods purchased should be exported though they need not be in same form for exemption under CST Act Purchase of paddy and export of rice Fitting bus body on chassis and selling bus Purchase in auction can also be in course of export Penultimate sale is not a local sale for purpose of purchase tax Purchase of packing material for export permissible Certificate in form H H form mandatory Contents of form H Manufacturer has to prove actual exports? SALE IN THE COURSE OF IMPORT 18.1 Constitutional background of sale on imports Direct Imports Sale in duty free shops in international airports Sale by Agents in India Privity of contract between the ultimate buyer and exporter necessary Import when there is no privity of contract Sale need not precede import, movement under agreement to sale is sufficient Sale in the course of import by Transfer of Documents Sale in the course of import for leasing Sale of goods stored in customs bonded warehouse is sale during import Meaning of crossing customs frontier Meaning of customs station and customs area Meaning of clearance under customs Sale of goods when goods are in bonded warehouse is sale in the course of import What can be document of title? Customs Duty paid by buyer when sale is by transfer of documents is not includible in sale price Sale after import is a distinct sale 331
16 CONTENTS I GOODS OF SPECIAL IMPORTANCE 19.1 Declared Goods Constitutional background Additional Excise in lieu of sales tax State Government can impose sales tax on goods leviable to AED Goods of special importance Articles held as declared goods Articles held as not declared goods The item must be construed strictly when the words used are that is to say Restrictions on State taxation on declared goods Tax on declared goods not to exceed 5% Reimbursement of local tax if declared goods sold Inter-State Goods must be sold in same form to obtain reimbursement Special provisions about paddy and pulses Sales Tax rates applicable for sale of declared goods PROCEDURES UNDER CST ACT 20.1 Source of Procedures under CST Act State provisions apply for many procedures Rules framed by Central Government Rules by State Governments Some Provisions of State Laws applicable to CST Sales Tax Law of each State Provisions of Central Act and Rules to prevail over State laws in CST matters Registration under CST Act Compulsory Registration under CST Voluntary Registration Application for registration Security from dealer under CST Act Other documents required at time of registration Certificate of Registration under CST 353
17 I-23 CONTENTS Amendment of registration certificate All items of purchase and sale must be included in Registration Refusal of Registration under CST Cancellation of CST Registration Forms and declarations under CST Declarations to be submitted dealer When to submit the declarations Who can sign the declarations Declaration form can be submitted at appellate stage if sufficient cause shown Re-assessment if declaration form submitted later and delay explained Declaration form cannot be rejected for minor defects STO should allow rectification of defects in declarations Recovery of difference if buyer refuses to issue required declaration form Refusal to issue of blank declaration forms not justified Rule can be amended to provide for non-issue of blank declaration form in case of defaults Declarations cannot be issued if goods are rejected Practical aspects of declaration form Prescribed forms under CST Declaration in form C Authority to issue blank C form Contents of C Form under CST C Form is mandatory to avail concessional rate Quarterly submission of C certificate Original and Duplicate and Counterfoil copy Procedure in case of Loss of C form Selling dealer not liable for false declaration by buyer C form should be issued after purchase with full particulars Issue/receipt of C form against goods used in works contract Declaration cannot be issued if goods are rejected C form issued by one branch but goods used by another branch of the same owner not permissible? Submission of C form is not conclusive evidence Certificate in D Form 377
18 CONTENTS I APPEALS AND PENALTY UNDER CST ACT 21.1 Appeals under CST Appeal if issue relates to inter state stock transfer or consignment of goods Further appeal against order of highest appellate authority, in certain cases under CST Formation of Appellate Authority Matters appealable to the authority Time limit for filing appeal Fees for filing appeal Department can file appeal against order of highest appellate authority Procedure for hearing appeal by CST Appellate Authority Stay by appellate authority Transfer of pending proceedings with CST Appellate Authority as on Authority can order refund by one State Government only to the extent of CST payable Offences under the CST Act Offences punishable Punishment by Court of law Compounding of offences Offences cognizable and bailable Punishment for other offences Mere possession of cash and undisclosed income not enough to sustain demand of sales tax, actual sale must be shown Mens rea in the CST offences Lenient view for technical lapses No limitation for launching prosecution Other provisions Liability of company in liquidation Liability of directors of private limited company in case of liquidation Recovery of CST Indemnity to Government Officers Sales Tax Planning 394
19 I-25 CONTENTS 22 STATE LEVEL VAT 22.1 Introduction State-wise position of VAT Compromised VAT No model law for all States Defects that had cropped up in sales tax system in India Steps taken to stop the menace AED (GSI) Act Basic Concept of VAT Meaning of cascading effect of tax Disadvantages of cascading effect of taxes Disadvantages of single point tax VAT avoids cascading effect of tax Illustration of tax credit method to avoid cascading effect Consumption types of VAT Nature of VAT/GST Meaning of Value added Revenue Neutral Rate (RNR) Advantage of VAT over conventional system of taxation Advantages of State Level VAT Deficiencies in present State VAT System Highlights of State Sales tax VAT Tax rates Concession for small dealers Policy about turnover tax, surcharge, additional tax etc. imposed by State Governments Non-availability of input credit in certain cases Credit of duty on capital goods Procedural provisions Provisions in State VAT relating to CST Provisions of assessment and audit Other provisions of State VAT Input Tax Credit even if selling dealer does not pay tax Record of Input Tax Credit Records of purchases of Inputs Quantity record of inputs 419
20 CONTENTS I Record of credit notes received from supplier Record of capital goods Other records Record of tax credit available Record of output tax Payment of tax and filing returns Accounting treatment of VAT CONSTITUTIONAL ISSUES ARISING DUE TO VAT AND CST 23.1 Constitutional issues arising out of discrimination in respect of CST Discriminatory treatment to goods brought from out of State States indirectly taxing inter-state transaction 424 APPENDICES Appendix 1 Central Sales Tax Act, Appendix 2 Central Sales Tax (Registration and Turnover) Rules, Appendix 3 Goods eligible for purchase at concessional rate under CST 494 SUBJECT INDEX 523
CONTENTS OBJECTS AND BASIC SCHEME OF THE CST ACT CONSTITUTIONAL BACKGROUND OF CST
CONTENTS u Chapter-heads I-5 u Central Sales Tax Act, 1956 : Section-wise Index I-29 1 OBJECTS AND BASIC SCHEME OF THE CST ACT 1.1 Introduction 1 1.2 Objects of CST Act 1 1.2-1 Basic scheme of the CST
More informationCONTENTS OBJECTS AND BASIC SCHEME OF THE CST ACT CONSTITUTIONAL BACKGROUND OF CST
CONTENTS u Chapter-heads I-5 u Central Sales Tax Act, 1956 : Section-wise Index I-29 1 OBJECTS AND BASIC SCHEME OF THE CST ACT 1.1 CST on way out but some concepts will continue 1 1.2 Objects of CST Act
More informationCENTRAL SALES TAX ACT, 1956
725 CENTRAL SALES TAX ACT, 956 [Act No. 74 of 956] Preamble. An Act to formulate principles for determining when a sale or purchase of goods takes place in the course of inter-state trade or commerce or
More informationKDF3A INDIRECT TAXATION UNIT I -V
KDF3A INDIRECT TAXATION UNIT I -V Unit I : Syllabus Taxation Objectives of Taxation Canon of taxation Classification of Tax Difference between Direct & Indirect Tax. KDF3A-INDIRECT TAXATION 2 OVER VIEW
More informationCONTENTS CENVAT CREDIT SCHEME RULE 2 : DEFINITIONS I-7. Chapter-heads I-5 Rule-wise Index I-23
CONTENTS Chapter-heads I-5 Rule-wise Index I-23 1 CENVAT CREDIT SCHEME 1.1 Background of VAT 1 1.1-1 Budget 2016-17 3 1.2 Basic Concept of VAT 3 1.2-1 Tax credit system to remove cascading effect 4 1.2-2
More informationCHAPTER HEADS. Contents I-7 DIVISION ONE INTRODUCTION CHAPTER 1 : BASIC ASPECTS OF INDIRECT TAXES 3 DIVISION TWO VAT & SERVICE TAX
CHAPTER HEADS PAGE Contents I-7 DIVISION ONE INTRODUCTION CHAPTER 1 : BASIC ASPECTS OF INDIRECT TAXES 3 DIVISION TWO VAT & SERVICE TAX CHAPTER 2 : STATE VAT 23 CHAPTER 3 : OTHER ASPECTS OF VAT 45 CHAPTER
More informationCHAPTER II And CHAPTER III INCIDENCE, LEVY AND RATE OF TAX, REGISTRATION
CHAPTER II And CHAPTER III INCIDENCE, LEVY AND RATE OF TAX, REGISTRATION 3. Incidence and levy of tax (1) Subject to the provisions of this Act, every dealer under sub-section (2), shall pay tax in the
More informationGoods and Services Tax INPUT TAX CREDIT September 22, P V SRINIVASAN Corporate Advisor Mobile:
Goods and Services Tax INPUT TAX CREDIT September 22, 2016 P V SRINIVASAN Corporate Advisor Email: pvs@pvsadvisors.com Mobile: +919845057597 1 Input Tax Credit Key definitions 1. Input : S 2(54): means
More informationTransitional Provisions
Transitional Provisions Udayan Choksi 17 May 2017 18-05-2017 1 S139 - Migration of Existing Taxpayers» Migration is for Every existing registered person Having a PAN Shall be issued a certificate of registration
More informationPreliminary and Administration
Chapter I Preliminary and Administration FAQ s Definitions (Section 2) Section 2 of the Central Goods and Services Tax Act, 2017 ( the CGST Act, 2017 or the CGST Act ) Agriculturist [Section 2(7)] Q1.
More informationINTRODUCTION TO CUSTOMS DUTY TYPE OF CUSTOM DUTIES
CONTENTS u Chapter-heads I-5 u Section-wise Index I-23 u Glossary (Acronyms) I-27 1 INTRODUCTION TO CUSTOMS DUTY 1.1 Brief Background of Customs Law 1 1.2 Nature of Customs Duty 5 1.3 Territorial Waters
More informationCERTIFICATE COURSE ON INDIRECT TAXES
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Indirect Taxes Committee CERTIFICATE COURSE ON INDIRECT TAXES SUGGESTED ANSWERS OF THE ASSESSMENT TEST HELD ON 25 TH AUGUST, 2012 PART A Write the correct
More informationCHAPTER 2. GST Acts : CGST ACT, SGST ACT (KARNATAKA STATE) IGST ACT
CHAPTER 2 GST Acts : CGST ACT, SGST ACT (KARNATAKA STATE) IGST ACT SALIENT FEATURES OF CGST ACT, 2017 1. A state-wise single registration for a taxpayer for filing returns, paying taxes, and to fulfil
More informationSIPOY SATISH CA IPCC MAY-2013/ NOV-2013 F.Y F. A MARKS. VALUE ADDED TAX `100
SIPOY SATISH www.cacwacs.wordpress.com sipoysatish@gmail.com VALUE ADDED TAX 25 MARKS Including EXAMINATION QUESTIONS CA IPCC MAY-2013/ NOV-2013 F.Y. 2012-13 F. A. 2012 100 VALUE ADDED TAX INDEX 2 Q1 (V.
More informationAll About GST and Model GST Law
All About GST and Model GST Law 1 Contents GST Basics Supply Meaning & Scope Supply - Time & Place Valuation Rules Input Tax Credit Administration & Procedures Transitional Provisions 2 Basics of GST 3
More informationISSUES ON GST FOR PANEL DISCUSSION TO BE HELD ON 13 th AUGUST, 2017
ISSUES ON GST FOR PANEL DISCUSSION TO BE HELD ON 13 th AUGUST, 2017 1. Developer has given work contract to construct the building to a work contractor in 2016. Developer had made the payment after deducting
More informationSREERAM COACHING POINT, Chennai Best Oral coaching at Chennai, Bangalore and Ernakulam
VALUE ADDED TAX What is VAT? A multi point system of taxation on sale of goods where in a mechanism is provided to grant credit for tax paid on inputs. VAT vs Sales Tax VAT SALES TAX (1) VAT is multi point
More informationGST Overview. ~CA Unmesh G. Patwardhan~ Mobile No Unmesh Patwardhan Mobile No
GST Overview ~CA Unmesh G. Patwardhan~ Mobile No.98224 24968 Unmesh Patwardhan Mobile No.98224 24968 1 Brief History & Concept of GST Unmesh Patwardhan Mobile No.98224 24968 2 1 st Jul 2017 The D Day Journey
More information6 Input Tax Credit and Composition Scheme for Small Dealers
6 Input Tax Credit and Composition Scheme for Small Dealers Learning objectives After reading this unit you will be able to: UNIT 1 : INPUT TAX CREDIT understand what is input tax and output tax. identify
More informationGST IT/ITES SECTORAL SERIES CENTRAL BOARD OF EXCISE & CUSTOMS. Directorate General of Taxpayer Services. Follow
GST SECTORAL SERIES IT/ITES Directorate General of Taxpayer Services CENTRAL BOARD OF EXCISE & CUSTOMS www.cbec.gov.in FAQ: IT/ITES Question 1: Whether software is regarded as goods or services in GST?
More informationBACKGROUND OF INDIRECT TAX LAW INTRODUCTION TO CUSTOMS DUTY TYPE OF CUSTOM DUTIES
CONTENTS u Chapter-heads I-5 u Section-wise Index I-21 DIVISION ONE LIABILITY OF CUSTOMS DUTY 1 BACKGROUND OF INDIRECT TAX LAW 1.1 Features of Indirect Taxes 3 1.2 Constitution of India 4 1.3 Bill, Act,
More informationGet More Updates From Caultimates.com Join with us : CENTRAL SALES TAX. Categories of sales
Get More Updates From Caultimates.com Join with us : http://facebook.com/groups/caultimates Central Sales Tax 66 CENTRAL SALES TAX Categories of sales Sales may be classified as:- (i) Intra-State sales
More informationBACKGROUND OF INDIRECT TAX LAW
CONTENTS u Chapter-heads I-5 u Section-wise Index I-17 DIVISION ONE LIABILITY OF CUSTOMS DUTY 1 BACKGROUND OF INDIRECT TAX LAW 1.1 Features of Indirect Taxes 3 1.2 Constitution of India 4 1.3 Bill, Act,
More informationINTERMEDIATE EXAMINATION
INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2016 Paper- 11: INDIRECT TAXATION Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right
More informationCOMPONENTS OF GST GST. IGST (Interstate and Imports) CGST (Intrastate) SGST (Intrastate)
WHAT IS GST Largest tax reform in the Indirect Taxation regime. PAN Based Registration Levied on supply of goods or services. Supply includes Stock Transfer. Supply being the Taxable Event, the concept
More informationMVAT & CST 2011 Budget Highlights
MVAT & CST 2011 Budget Highlights Parind Mehta 21 May 2011 Central Sales Tax Goods of special importance Section 15 Limit for rate of Sales tax on declared goods increased from 4 percent to 5 percent 2
More informationE-Book on IGST and UTGST Laws Written By Anand Singh IRS Retd. Additional Commissioner (Customs) New Delhi, India
E-Book on IGST and UTGST Laws Written By Anand Singh IRS Retd. Additional Commissioner (Customs) New Delhi, India Email: easylawmatebooks@gmail.com All Rights Reserved. Copyright 2017 by the Authors ABOUT
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 7 PART A
: 1 : RollNo... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 7 NOTE : All references to sections mentioned in Part-A of Question Paper relate
More informationGST - AN OVERVIEW I-5
Contents 1 GST - AN OVERVIEW 1.1 What is Goods and Services Tax? 1 1.1-1 Amendments made to GST Acts vide Amendment Act, 2018 3 1.1-2 Broad definition of service 6 1.1-3 Dual GST for supply of goods and
More informationENTRY TAX ACT
Section Content Page No. Short title and commencement 2 2 Definitions 2 3 Incidence of taxation 4 4 Rate at which entry tax to be charged 7 5 Principles governing levy of entry tax on 32 [dealer or person]
More informationGOVERNMENT OF NAGALAND. The Nagaland Goods and Services Tax Act, 2017 (Act No. 4 of 2017)
GOVERNMENT OF NAGALAND The Nagaland Goods and Services Tax Act, 2017 (Act No. 4 of 2017) The Nagaland Goods and Services Tax Act, 2017 (Act No. 4 of 2017) An ACT to make a provision for levy and collection
More informationFINAL EXAMINATION GROUP - IV (SYLLABUS 2016)
FINAL EXAMINATION GROUP - IV (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS JUNE - 2017 Paper-18 : INDIRECT TAX LAWS AND PRACTICE Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the
More informationCHAPTER-HEADS. Contents I-7 Rule-wise Index I-25
CHAPTER-HEADS Contents I-7 Rule-wise Index I-25 CHAPTER 1 : CENVAT CREDIT SCHEME 1 CHAPTER 2 : RULE 2 : DEFINITIONS 12 CHAPTER 3 : RULE 2 : CAPITAL GOODS 28 CHAPTER 4 : RULE 2 : INPUTS 62 CHAPTER 5 : RULE
More informationINPUT INPUT TAX TAX CREDIT
INPUT TAX CREDIT PROVISIONS GOVERNING TAX CREDIT S.NO. PARTICULARS SECTION/RULE 1. Tax Credit Section 9 2. Adjustment to tax Credit Section 10 3. Apportionment of tax Credit Rule 6 4. Restrictions and
More informationPARIMAL PATEL P. J. E-CONSULTANTS AHMEDABAD
SIMPLIFYING THE GST CODE PARIMAL PATEL P. J. E-CONSULTANTS AHMEDABAD CURRENT STRUCTURE CASCADING EFFECT TAX ON TAX Excise/VAT/CST/Entry Tax/BCD/CVD/AED, ETC. Excise/VAT/CST Branch Transfers VAT/CST WHY
More informationGST Concept and Road Map... Atul Gupta
GST Concept and Road Map... Atul Gupta Goods and Service Tax What will be incidence of tax (which Activity will attract GST Definition of Supply. Schedule 1 & 2 Classification Based on HSN, A/c Code for
More informationThis is an unofficial translation
Federal Decree-Law No. (8) of 2017 on Value Added Tax We, Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, Having reviewed the Constitution, Federal Law No. (1) of 1972 on the Competencies
More informationSuggested Answer_Syl12_Jun2014_Paper_11 INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012)
INTERMEDIATE EXAMINATION GROUP II (SYLLABUS 2012) SUGGESTED ANSWERS TO QUESTIONS JUNE 2014 Paper-11: INDIRECT TAXATION Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right side
More informationCabinet Decision No. (37) of 2017 on the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Excise Tax
Cabinet Decision No. (37) of 2017 on the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Excise Tax The Cabinet, Having reviewed the Constitution; Federal Law No. (1) of 1972 on the Competencies
More informationFYJC. Subject : Organisation of Commerce & Management. Ch. 5. International Business SOLUTION
Date : Marks : 30 FYJC Subject : Ch. 5. International Business SOLUTION Duration: 1 Hr. 15 Min. Set No. : Q.1. Select the correct answer from the possible options given below and rewrite the statement:
More informationVAT CONCEPT AND ITS APPLICATION IN GST
CONTENTS DIVISION 1 INPUT TAX CREDIT 1 VAT CONCEPT AND ITS APPLICATION IN GST 1.1 Background of VAT 3 1.2 Basic Concept of VAT 4 1.2-1 VAT to avoid the cascading effect 5 1.2-2 Input Tax credit system
More informationChapter -2 Central Excise Law
1 Solution of Paper 10 Applied Indirect Taxes (CMA) December, 2012 Chapter -2 Central Excise Law Descriptive Question Answer (a): Particular CST Service tax Excise duty Customs duty 2012-Dec[2] (a) Taxable
More informationPUNJAB VIDHAN SABHA BILL NO. 10-PLA-2017 THE PUNJAB GOODS AND SERVICES TAX BILL, 2017 BILL
PUNJAB VIDHAN SABHA BILL NO. 10-PLA-2017 THE PUNJAB GOODS AND SERVICES TAX BILL, 2017 A BILL to make a provision for levy and collection of tax on intra-state supply of goods or services or both by the
More informationResponse to questions raised by members in relation to Goods and Services Tax ( GST )
Response to questions raised by members in relation to Goods and Services Tax ( GST ) 1. What will be the treatment for hallmarking charges recovered from Customer? As per Section 15 of the CGST Act, 2017,
More informationTHE CENTRAL SALES TAX (RAJASTHAN) RULES,
THE CENTRAL SALES TAX (RAJASTHAN) RULES, 1957 In exercise of the powers conferred by sub-section (3) and (4) of section 13 of the Central Sales Tax Act, 1956 (Central Act 74 of 1956) the State Government
More informationSales Tax Systems In India : A F m flle MIZORAM
Sales Tax Systems In India : A F m flle MIZORAM Mizoram has agriculture as the mainstay of the majority of its population. Handloom, handicrafts are its cottage industries. Rice milling, oil and flour
More informationGOODS AND SERVICE TAX (GST) TRANSITIONAL PROVISIONS COMPILED AND PREPARED BY : CA SAGAR THAKKAR
GOODS AND SERVICE TAX (GST) TRANSITIONAL PROVISIONS COMPILED AND PREPARED BY : CA SAGAR THAKKAR PRESENTATION COVERAGE TRANSITIONAL PROVISIONS UNDER CGST/SGST ACT SEC. 139 TO 142 OF CGST ACT TRANSITIONAL
More informationINTERMEDIATE EXAMINATION GROUP - II (SYLLABUS 2016)
INTERMEDIATE EXAMINATION GROUP - II (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS DECEMBER - 2017 Paper-11 : INDIRECT TAXATION Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the
More informationNOTES ON CENTRAL SALES TAX Sec.3, Sec.4, Sec.5, Sec.6A & Sec. 6(2)
NOTES ON CENTRAL SALES TAX Sec.3, Sec.4, Sec.5, Sec.6A & Sec. 6(2) Introduction:- Sales Tax is a state subject. Entry 92A of List I and entry 54 of List II of the constitution of India demarcates the power
More informationWEST BENGAL AUTHORITY FOR ADVANCE RULING GOODS AND SERVICE TAX 14 Beliaghata Road, Kolkata
WEST BENGAL AUTHORITY FOR ADVANCE RULING GOODS AND SERVICE TAX 14 Beliaghata Road, Kolkata 700015 Name of the applicant Address GSTIN Case Number 17 of 2018 Date of application June 21, 2018 Indian Oil
More informationTHE CENTRAL GOODS AND SERVICES TAX ACT, 2017 CHAPTER I PRELIMINARY
THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 NO. 12 OF 2017 [12th April, 2017.] An Act to make a provision for levy and collection of tax on intra-state supply of goods or services or both by the Central
More informationCA. Hrishikesh Wandrekar Wandrekar & Co.
Wandrekar & Co. Basic Concept of GST Destination Based Consumption Tax Tax leviable on value added in the transaction chain Tax on goods & services borne by the ultimate consumer Input tax credit available
More informationIntroduction. Choose the language your prefer.
The United Arab Emirates Federal Decree-Law No. (8) of 2017 on the Value Added Tax Law August 2017 Introduction This document is an English version of The United Arab Emirates Federal Decree-Law No. (8)
More informationDraft Tamil Nadu Value Added Tax Rules, 2006
Draft Tamil Nadu Value Added Tax Rules, 2006 In exercise of the powers conferred by subsection (1) of section 80 of the Tamil Nadu Value Added Tax Act, 2006 (Tamil Nadu Act 37 of 2006), the Governor of
More informationRecent Amendment in MVAT & CST Laws
Recent Amendment in MVAT & CST Laws Presented by CA Harsh Bajaj On Sunday 17 th June, 2012 For J. B. Nagar CPE Study Circle of WIRC. 1 Maharashtra Value Added Tax (Third Amendment) Rules, 2012 (Notification
More informationTransferring efficiency Advancing new options. Indirect Tax Seminar Issues and Prospects June 22, 2013 Anjlika Chopra
Transferring efficiency Advancing new options Indirect Tax Seminar Issues and Prospects June 22, 2013 Anjlika Chopra Contents Important obligations under VAT Registration Returns and payment of taxes VAT
More informationMTP_Intermediate_Syllabus 2016_Dec2017_Set 1 Paper 11- Indirect Taxation
Paper 11- Indirect Taxation Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 11- Indirect Taxation Full Marks: 100 Time allowed:
More informationAnswer to MTP_Intermediate_Syllabus 2012_Dec2017_Set 1 Paper 11- Indirect Taxation
Paper 11- Indirect Taxation Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 11- Indirect Taxation Full Marks: 100 Time allowed:
More informationCHAPTER 1: INTRODUCTION TO GST 1.1 BASICS OF GST What is GST?
CHAPTER 1: INTRODUCTION TO GST 1.1 BASICS OF GST 1.1.1 What is GST? Goods and Services Tax (GST) is a value-added indirect tax at each stage of the supply of goods and services precisely on the amount
More informationCertification, Reporting, Accounting and Reconciliation of Turnover & Determination of Turnover of Sales and Purchases- WIRC ICAI Cuffeparade
1 Certification, Reporting, Accounting and Reconciliation of Turnover & Determination of Turnover of Sales and Purchases- WIRC ICAI Cuffeparade CA Deepali Mehta 11/16/2016 2 Matters to be covered Liability
More informationCENTRAL GOODS AND SERVICES TAX ACT, 2017
CENTRAL GOODS AND SERVICES TAX ACT, 2017 [12 OF 2017]* An Act to make a provision for levy and collection of tax on intra-state supply of goods or services or both by the Central Government and the matters
More informationGENERAL PROCEDURES UNDER CENTRAL EXCISE
5 GENERAL PROCEDURES UNDER CENTRAL EXCISE SIGNIFICANT NOTIFICATIONS/CIRCULARS ISSUED BETWEEN 01.05.2014 AND 30.04.2015 1. Following amendments have been made in Central Excise Rules, 2002 [CER] vide Notification
More informationA Peek into GST... GST is commonly known as Destination based tax on consumption of goods and services.
Kharabanda Associates, Chartered Accountants A Peek into GST... Volume 1, Issue 1 Date : January 20, 2017 Inside this Issue : GST Demystified 2 Input tax credit, Supply & Liability GST Trend, VAT & Valuation
More informationChapter 23. General Provisions. Article 169. Concept of value added tax. Chapter 24. Taxpayers. Article 170. Taxpayers
DIVISION VII. VALUE-ADDED TAX Chapter 23. General Provisions Article 169. Concept of value added tax The value added tax, hereinafter VAT, is a form of collection to the budget of a portion of the value
More information[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the August, 2017 G.S.R.. (E).- In
More informationReverse Charge Mechanism - Reverse gear of tax burden
Reverse Charge Mechanism - Reverse gear of tax burden A. Introductory provisions of reverse charge under GST Law. In terms of section 9(1) of Central Goods and Services Tax Act, 2017, Central Goods and
More informationMEGHALAYA ACT NO. 5 OF 2005.
MEGHALAYA ACT NO. 5 OF 2005. As passed by the Meghalaya Legislative Assembly Received the assent of the Governor on the 30th April,2005. Published in the Meghalaya Extra Ordinary issue dt.30th April,2005.
More informationCHAPTER III INCIDENCE, LEVY AND RATE OF TAX
CHAPTER III INCIDENCE, LEVY AND RATE OF TAX 6. Determination of taxable turnover. To determine the taxable turnover of sales, the following amounts shall, subject to the conditions specified, be deducted
More informationDEPARTMENT OF LAW, JUSTICE AND LEGISLATIVE AFFARIS NOTIFICATION
PART IV] DELHI GAZETTE : EXTRAORDINARY 113 4 of 1882. DEPARTMENT OF LAW, JUSTICE AND LEGISLATIVE AFFARIS NOTIFICATION Delhi, the 14th June, 2017 No. F.14(3)/LA-2017/ cons2law / 49-58. The following Act
More informationPre-Budget proposal of construction sector for
Pre-Budget proposal of construction sector for 0-7 8 9 0 7 Direct Taxes Income Tax Introduction of Transfer Pricing provisions to domestic transaction Applicability of alternate minimum tax on persons
More informationGovernment of Gujarat Finance Department, Sachivalaya, Gandhinagar Dated the 1 st, 2006
Government of Gujarat Finance Department, Sachivalaya, Gandhinagar Dated the 1 st, 2006 No. (GHN- ) VAR (1) / 2005 / Th: - WHEREAS the Government of Gujarat is satisfied that circumstances exist which
More informationValue added tax return considered as annual return Closing down of business in 2014
For official use only Date of entry Accounted for Central Tax Office P.O. Box 1004 L - 1010 Luxembourg Tel.: (+352) 44 905-1 IBAN LU31 1111 0114 1970 0000 BIC Code: CCPLLULL Value added tax return considered
More informationVirtual Certificate Course on GST Organised by: IDT Committee of ICAI
1 Virtual Certificate Course on GST Organised by: IDT Committee of ICAI Sector Specific Studies on Construction Information Technology Tourism Service Trader Manufacturer 23 of June 2017 2 HIGHLIGHTS OF
More informationIndirect Taxes Committee Institute of Chartered Accountants of India
SUMMARIZED PROVISIONS OF FEDERAL DECREE-LAW No. (8) OF 2017 ON VALUE ADDED TAX Dubai VAT Law (Goods & Services Tax ) is expected to be implemented in Dubai w.e.f 01.01.2018 Certain important definitions:
More informationWorks Contract under GST
Works Contract under GST This Presentation Contain Introduction to GST Registration Definition of Works Contract Composition Scheme Scope of Supply Valuation Exemptions & Valuation Input Tax Credit Taxability
More informationLevy and Collection of Tax
FAQ Levy and collection of Tax (Section 5) Q 1. What type of tax is levied on inter-state supply? Chapter I Levy and Collection of Tax Ans. In terms of Section 5 of the IGST Act, 2017, inter-state supplies
More informationGST - AN OVERVIEW I-5
Contents 1 GST - AN OVERVIEW 1.1 What is Goods and Services Tax? 1 1.1-1 Broad definition of service 3 1.1-2 Dual GST for supply of goods and services within State 3 1.1-3 IGST for inter-state transactions
More informationPage 1 of 18. Address of the principal place of the business
FORM - XXIII Department of Commercial Taxes, Government of Uttar Pradesh (See rule 42 of the UPVAT Rules, 2008) Audit report by specified authority PART-I Certified that I/we have verified the correctness
More informationSummary of Notifications, Circulars from 16 th June, 2016 to 15 th July, 2016
Summary of Notifications, Circulars from 16 th June, 2016 to 15 th July, 2016 SERVICE TAX 1. Services Provided prior to 31st May 2016 exempt from Krishi Kalyan Cess (KKC) The Central Government vide Notification
More informationBasic Concepts of Indirect Taxes Customs Duty 1.77
Basic Concepts of Indirect Taxes Customs Duty 1.77 EXPORT PROCEDURES The procedure for exportation of goods by air, by sea or by land has been outlined below:- (1) Filing of shipping bill/ bill of export:
More informationCHAPTER - III INCIDENCE AND LEVY OF TAX
CHAPTER - III INCIDENCE AND LEVY OF TAX 9. Determination of total turnover:- (1) The total turnover of a dealer for the purposes of these rules shall be the aggregate of- (a) the amount for which goods
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 7
: 1 : Roll No... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 7 NOTE : All references to sections mentioned in Part-A of the Question Paper relate
More informationLevy and Collection of Tax
FAQ Meaning and scope of supply (Section 7) Chapter I Levy and Collection of Tax Q1. What is the scope of the term supply as defined in CGST Act, 2017? Ans. As per Sub-section (1) of Section 7, Supply
More informationVALUE ADDED TAX (Law of as subsequently modified)
Page 1/11 Recette Centrale B.P. 1004 L-1010 Luxembourg Tél. (1) : (+352) 247-80800 IBAN : LU31 1111 0114 1970 0000 Code BIC : CCPLLULL URL (1) : http://www.aed.public.lu Statutory deadline : Tax office
More informationJAMMU & KASHMIR. 1. Structure
S ales Tax S vsiem s In India: A P rofile JAMMU & KASHMIR The levy of sales tax in the State of Jammu & Kashmir is governed by the provisions of the Central Sales Tax Act. 1956, and the Jammu & Kashmir
More informationGLOBAL INDIRECT TAX. Sweden. Country VAT/GST Essentials. kpmg.com TAX
GLOBAL INDIRECT TAX Sweden Country VAT/GST Essentials kpmg.com TAX b Sweden: Country VAT/GST Essentials Sweden: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2
More informationWHETHER TAX HAS TO BE CHARGED & COLLECTED BY A DEALER ON PURCHASES AND SALES OF GOODS IN THE COURSE OF EXPORT OUT OF TERRITORY OF INDIA UNDER U.
WHETHER TAX HAS TO BE CHARGED & COLLECTED BY A DEALER ON PURCHASES AND SALES OF GOODS IN THE COURSE OF EXPORT OUT OF TERRITORY OF INDIA UNDER U.P. VAT ACT, 2008? 11 Rakesh Gupta Advocate G-6, Panchwati
More informationFINAL MAY 2018 INDIRECT TAX LAWS
FINAL MAY 2018 INDIRECT TAX LAWS Test Code F73 Branch (MULTIPLE) (Date : 25.02.2018) (50 Marks) Note: All questions are compulsory. Question 1 (5 Marks) This supply would be regarded as mixed supply, since
More informationTHE KERALA VALUE ADDED TAX RULES, 2005 FORM NO.13A
THE KERALA VALUE ADDED TAX RULES, 2005 FORM NO.13A [See Rule 20(8)] STATEMENTS OF PARTICULARS IN THE CASE OF PERSON CARRYING ON BUSINESS 1. Name of the Dealer : 2. Address : 3. Registration No. : 4. Assessment
More informationPaper-11 Indirect Taxation
Paper-11 Indirect Taxation Time Allowed: 3 hours Full Marks: 100 Working notes should form part of the answers. Group-A (Answer Question 1 which is compulsory) Question 1. Answer the following questions
More informationUPDATE ON AMENDMENTS TO CGST ACT, 2017
UPDATE ON AMENDMENTS TO CGST ACT, 2017 Dear Person, August 31, 2018 TEAM TRD An amendment to CGST Act, 2017 has been introduced on 29 th August, 2018 with the following objective by The Central Government:-
More informationCurrent Tax Structure in India
History of GST More than 150 countries have already introduced GST. France was the first country to introduce GST system in 1954. Typically it is a single rate system but two/three rate systems are also
More informationTHE CHAMBER OF TAX CONSULTANTS BASIC CONCEPTS O F G S T
THE CHAMBER OF TAX CONSULTANTS BASIC CONCEPTS O F G S T 1 Understanding GST Covering 2 Legislations, 174 Sections,3 Schedules TAXES IN INDIA There are mainly two types of taxes DIRECT TAXES INCOME TAX
More informationGOVERNMENT OF KARNATAKA (Department of Commercial Taxes) Procedure for Registration under KST Act 1957
GOVERNMENT OF KARNATAKA (Department of Commercial Taxes) Procedure for Registration under KST Act 1957 1. Dealers doing business in Petroleum crude, High Speed Diesel, Motor Spirit, (commonly known as
More informationCENTRAL SALES TAX (REGISTRATION & TURNOVER) RULES, 1957 (as on 5th March 2014)
Rule 1 Central Sales Tax (Registration & Turnover) Rules, 1957 CENTRAL SALES TAX (REGISTRATION & TURNOVER) RULES, 1957 (as on 5th March 2014) 1 These Rules may be called the Central Sales Tax (Registration
More informationGoods and Services Tax (GST) M.R.Narain & Co., Chartered Accountants 1
Goods and Services Tax (GST) 1 How GST Works Following are the Important Features of GST 1. Tax on Supply of Goods and Service (Except Alcoholic Liquor) 2. Multistage Tax 3. Tax on Value Added 4. Destination/Consumption
More informationThe Central Sales Tax (Punjab) Rules, 1957
The Central Sales Tax (Punjab) Rules, 1957 In exercise of the powers conferred by sub-section (3) and (4) of section 13 of the Central Sales Tax Act, 1956 (74 of 1956), the Governor of Punjab is pleased
More informationTHE ODISHA VALUE ADDED TAX ACT, ORISSA ACT 4 OF 2005
1 ORISSA ACT 4 OF 2005 An ACT to provide for the imposition and collection of tax on the sale or purchase of goods in the State. Be it enacted by the Legislature of the State of Orissa in the Fifty-fifth
More informationBy: CA Sanjay Dhariwal
By: CA Sanjay Dhariwal sanjay@dnsconsulting.net 9972070601 Specific issues under Stock transfer: Consignment Sales, Inter unit transaction (Separate and Centralized Registration within State), E-commerce,
More informationUNION TERRITORY GOODS AND SERVICES TAX ACT, 2017
UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017 [14 OF 2017]* An Act to make a provision for levy and collection of tax on intra-state supply of goods or services or both by the Union territories and
More information