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Legal-Updates - Page 8

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

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September 30, 2020
[By Jyotish M Shah, Partner] Widening the scope of TCS (Tax Collection at Source) on foreign remittance, selling overseas tour package, and sale of goods over a prescribed limit from 1st October 2020. Section 206C providing for TCS has been amended to widen the scope to cover: Authorised Dealer who receives Rs.7 Lacs or more from person for remittance out

Gujarat VAT Returns – Extension of due date

November 4, 2010
We had informed you through our Update earlier that vide Notification No. (GHN-39) VAR-2010(287)/TH dtd. 24-9-2010, the Gujarat Government has made it mandatory for specified category of Dealers to file the VAT & CST Returns Electronically (E-Return) alongwith the information in Form 201A, 201B, 201C, Appendix I & II within
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Guj-VAT Notification: Disallowance of ITC

June 30, 2010
In a latest Notification dtd.29-Jun-2010, the Gujarat Government has notified – 1.       Input Tax Credit will be reduced by 2% on taxable turnover of Purchases when – a.       the goods are sold / resold in the course of inter-state trade and commerce;  b.      the goods are used as input including
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Gujarat VAT Amendments

February 18, 2010
Addition / Amendment of Entries in Industrial Input List Chemicals notified as industrial input items covered in notification attached to entry 42/A- are taxable at 4%+1% Additional Tax. Until now, the list of chemicals covered under entry 42/A have been notified vide the Notifications Nos. GHN-33/2006 dtd. 31-Mar-2006; GHN-46/2006 dtd.
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FAQs: TDS Provisions under Gujarat VAT Laws

December 7, 2009
The Gujarat VAT Amendment Act of 2009 has introduced a new provision for obtaining Tax Deduction Account Number (TDN) by the person who awards works contracts exceeding Rs.1 crore. Let us revisit the provisions of TDS on Works Contracts under the Gujarat VAT laws through the following FAQs: 1. Who
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