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This tag is associated with 95 posts

Relief to Exporters under GST

[By Shaleen Shah (Partner), VNCA] An exporter is eligible for Refund of IGST paid at the time of export.  The shipping bill filed by an exporter with customs authorities is considered to be an application for refund of IGST paid on the goods exported out of India. Exporters then file export details viz. shipping bill [...]

Refund of IGST paid on export of goods

The Customs Department has issued following Instructions dtd. 9-Oct-2017 pertaining to Refund of IGST paid on export of goods under Rule 96 of CGST Rules, 2017. Download PDF As you are aware. Rule 96 of the CGST Rules 2017 deals with refund of Integrated Tax paid on goods exported out of India. It provides that [...]

Gujarat VAT Dealers will now have to file stock details in 201C every month

As per Gujarat VAT Rules, till now Dealers were required to file Stock Statement in prescribed Form 201C every quarter other than certain small scale Dealers who had to file the Stock Statement on half-yearly basis. Through a Notification dtd. 12-May-2017, the Gujarat Government has amended the aforesaid Rules stipulating that w.e.f. April 2017, Dealers [...]

B2C music, e-books, cloud services from foreign portals will now attract service tax

[By Shaleen Shah (Partner), VNCA] If you download music or an e-book from a site within India, or buy some storage on a cloud from a domestic service provider within India, it attracts service tax.  However if such downloads are made or storage is purchased from an overseas site service tax does not apply if [...]

GST Enrolment–Transition of existing tax payers to GST

[By Shaleen Shah (Partner), VNCA] The Government has started preparation for transition of existing tax payers to GST. All existing taxpayers registered under any of the following Acts will be transitioned to GST:  1) Central Excise 2) Service Tax 3) State Sales Tax or VAT 4) Entry Tax 5) Luxury Tax 6) Entertainment Tax Existing [...]

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

Equalisation Levy of 6% on e-commerce transactions applicable from 1-Jun-2016

[By Shaleen Shah (Partner), VNCA] We had informed you earlier that based on the recommendations a CBDT committee on taxation of e-commerce, Finance Minister Arun Jaitley had in his Budget proposed an Equalisation Levy of 6% to tap tax on income accruing to foreign e-commerce companies from India.  Budget-2016 has been enacted on 14-May and [...]

Service Tax Department cannot conduct audit under Rule 5A(2)–Delhi High Court

[By Shaleen Shah (Partner), VNCA] It is a general practice of Service Tax Department to conduct audit of service tax assessees for last five years by deputing their own officers of the rank of Inspectors and Superintendents. Service Tax Department also seeks voluminous details and seeks information in self-specified format/annexures of about 32 pages, which [...]

Budget 2016 enacted on 14-May – Service Tax Amendments effective from various dates

[By Shaleen Shah (Partner), VNCA]   The Union Budget 2016 presented by Hon’ble Finance Minister, Shri Arun Jaitley was passed by both houses of the Parliament and received the Presidential assent and thus stands enacted on 14-May-2016.   Service Tax Changes proposed in the Union Budget-2016 are coming into effect on various dates, as indicated [...]