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Gujarat VAT & CST

This category contains 65 posts

Why India’s GST is one of the world’s most complex tax reforms

[Source: www.bbc.com] Will India, a $2 trillion (£1.5tn) economy with 1.3 billion consumers, now become a truly single market? Many believe the landmark goods and services tax bill – passed by parliament on Wednesday evening, after years of filibustering by the ruling BJP and main opposition Congress – is a key step in that direction. [...]

Gujarat VAT/Sales Tax Amnesty Scheme-2016

[By Shaleen Shah (Partner), VNCA] In the Gujarat State Budget for FY 2016-17, the State Finance Minister had announced that in view of the imminent implementation of the composite Goods & Services Tax (GST), it was necessary to resolve the problems relating to past outstanding tax dues under the VAT / Sales Tax laws. To [...]

Download Draft Model of GST Law

Download Draft Model of GST Law

Flipkart challenges Gujarat entry tax on online sale in HC

[Source: timesofindia.indiatimes.com] The Gujarat high court on Thursday issued notice to the advocate general and state authorities concerned over a petition filed by India’s largest online marketplace Flipkart Internet Pvt Ltd objecting to state government’s law levying entry tax on goods sold in Gujarat through online shopping. This happened after the state government made amendments [...]

Gujarat Budget 2016-17–VAT Amendments

[By Shaleen Shah (Partner) with Kirit Rana (Manager-VAT), VNCA] Gujarat Budget 2016-17 was passed by the State Assembly on 30-Mar-2016. The gist of VAT amendments enacted in the budget read with relevant notifications is as follows – INCREASE IN TAX RATES W.E.F. 1-APR-2016: 1. New Entry No.49C in Sch-II: Luxury Cars & SUVs with price [...]

SC to lift entry tax cap, Rs 10k cr bonanza for states

States can expect a revenue bonanza of up to Rs 10,000 crore to be paid by big corporate houses in the manufacturing sector as the Supreme Court on Friday said it would in April vacate its three-year-old interim order asking authorities to collect only 50% of entry tax. Approximately Rs 30,000 crore is due from [...]

Why India’s most important tax reform is still stuck in parliament

[Written By: Gautam Khattar, Partner-Indirect Tax, PwC India; Source: Quartz India] In his budget speech in February 2015, Arun Jaitley announced an ambitious goal of implementing the Goods and Services Tax (GST) nationwide by April 01, 2016. Ever since that declaration by the finance minister, passing the bill through parliament has been the topmost priority [...]

Time reduced for filing Gujarat VAT Returns

The Gujarat VAT Rules stipulate a period of 30 days for e-filing of monthly / quarterly returns from the end of the relevant period. Since e-filing of returns was new at that point of time, the State Government had granted relief by giving additional time for filing E-Returns. Now through Circular dtd. 10-Nov-2015, the State [...]

Intangibles–ambiguity between VAT & Service Tax

[Source: forbesindia.com; Author: Rajeev Dimri, Leader, Indirect Tax, BMR & Associates LLP] Levy of service tax on provision of ‘services’ and value added tax (VAT) on sale of ‘goods’ is clearly demarcated and may look simple enough to the uninitiated.  However, this simplistic differentiation regarding the nature of levy becomes perplexing in the case of [...]

ITC cannot be denied where registration is cancelled retrospectively–Gujarat HC

Under Gujarat VAT Act, amongst other conditions, the purchasing dealer can claim input tax credit (ITC) only if the purchases are made from another registered dealer. In cases where the assessee had purchased the goods from a dealer who was a registered dealer and, subsequently the registration of the said seller is cancelled retrospectively / [...]