Posted On:  2 months ago


Procedure for registration of PTRC (Profession tax registration certificate) and PTEC (Profession tax enrollment certificate) in Maharashtra

As per the amendments in the Profession Tax Act 1975, a person (natural / legal) registered under MGST Act is liable to enroll for Profession Tax Enrollment Certificate (PT-EC) and pay Rs.2500 per annum. In addition, if the business is having any employee whose monthly salary is above Rs. 7500/- is also required to obtain Profession Tax Registration Certificate

article author CA Chirag Chauhan

Posted On:  3 months ago


Integrated Goods and Services Tax Act

The introduction of Goods and Services Tax (GST) is a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and states would be replaced by one tax called Goods and Services Tax (GST). GST is a multi-stage value added tax on consumption of goods or services or both.

article author One Roof Consultant

Posted On:  8 months ago


GST FAQ on Handicrafts

All imports will be deemed as inter-State supplies for the purposes of levy of GST. IGST is leviable on imports in addition to other duties of customs. Full set-off will be available as ITC of the IGST paid on import on goods and services.

article author CA Chirag Chauhan

Posted On:  8 months ago


Distribution of GST Provisional Id and Access Token of Phase 9 dealers.

In reference to the above referred Trade Circulars, the activity of GST data migration and distribution of Provisional Ids and Access Token is in progress since 14th November 2016. This activity has been carried out by Maharashtra GST Department in stage-wise manner in 8 phases. Provisional Ids and Access Token of Phase 9 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials. The list of all such dealers is published under GST Tab on Mahavat portal.

article author One Roof Consultant

Posted On:  10 months ago


Analysis of Goods & Service Tax (GST) on Real Estate Industry

If Government/GST Council will rectify defects pointed out by me in the said article then it will help in reducing inflation & also help in achieving Government’s mission of creating employment, creating smart cities, good infrastructure & ‘Housing for All’ mission by 2022. Please note that my above article is also uploaded in www.taxguru.in website on 29-05-2017.

article author CA JINESH GADA

Posted On:  11 months ago


Limited Liability Partnership LLP –Annual Filing due dates and Penalty for MCA, Audit and Income Tax

Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, are required to file the Forms with the Registrar every year. All registered LLPs are required to prepare their accounts and fill in information regarding the profit earned, or any other financial inputs regarding business, and submit it to MCA and Income Tax Department every year. Following is the summary of compliance required for LLPLimited Liability Partnership (LLP) under the Limited Liability Partnership Act, are required to file the Forms

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Transitional Provisions under Goods and Service Tax

A registered person, other than a person opting to pay tax under composition scheme, shall be entitled to take credit in his electronic credit ledger the amount of CENVAT (or VAT credit) credit carried forward in the return of the last period before the appointed day, subject to the conditions stated therein. (Section 140(1) of the CGST/SGST Act)

article author One Roof Consultant

Posted On:  1 year ago


FAQs on Refunds under Goods and Service Tax (GST)

“Refund” includes (a) any balance amount in the electronic cash ledger so claimed in the returns, (b) any un utiized input tax credit in respect of (i) zero rated supplies made without payment of tax or, (ii) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), (c) tax paid by specialized agency of United Nations or any Multilateral Financial Institution and Organization notified under the United Nations (Privileges and Immunities) Act, 1947, Consulate or Embassy of foreign countries on any inward supply

article author One Roof Consultant

Posted On:  1 year ago


GST Migration: Allotment of Provisional Id & Access Token to Maharashtra dealers

As per the above referred Trade Circular 35T of 2016, dt. 12-11-2016 & Trade Circular 2T of 2016, dt. 06-01-2017, the activity of Distribution of Provisional Id and Access Token for Phase 1 and Phase 2 dealers has been started from 14-11-2016 and 06-01-2017 respectively.

article author One Roof Consultant

Posted On:  1 year ago


Grant of Registration under DVAT and CST within one day

In partial modification of this department’s Circular No 06 of 2016-17 Dt 17-05-2016 and in keeping with the reforms being undertaken, under ‘Ease of Doing Business’ in Department of Trade and Taxes, GNCTD, it has been decided to further ease the procedure for grant of registration under DVAT & CST Act, as under

article author One Roof Consultant

Posted On:  2 years ago


Latest and revised MVAT return due dates and interest provision from April 2016

Forms for MVAT returns like Form-231, Form CST, Regular Annexure etc are now revised and the due dates for filing the returns are as follows: Schedules for filing returns for the periods from April 2016: Monthly Returns:

article author CA Chirag Chauhan

Posted On:  2 years ago


FAQs on Transitional Provisions as per Goods and Service Tax (GST)

VAT credit was not available on items 'X' & 'Y' as capital goods in the earlier law. Since they are covered in GST, can the registered taxable person claim it now. He shall be entitled to credit only when ITC on such goods were admissible under the earlier law and is also admissible in GST. Since on the two items credit was not available under the earlier law, the said person cannot claim it in GST – proviso to section 144(1).

article author CA Chirag Chauhan

Posted On:  2 years ago


FAQs on Refunds under as per Goods and Service tax (GST)

Refund has been discussed in section 38 of the MGL. “Refund” includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported out of India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit as provided under section 38(2)

article author CA Chirag Chauhan

Posted On:  2 years ago


Has the enactment of Constitution (One Hundred and First Amendment) Act, 2016 offered a free-bee to Indirect tax assesses?

With the release of Notification No. SO2986(E), dated 16 September 2016 (“Notification”), the Central Government has notified the enactment of the Constitution (One Hundred and First Amendment) Act, 2016 (“Act”) with effect from 16 September 2016. Accordingly, Article 246A of the Constitution has become operational from 16 September 2016 which inter alia empowers the Centre and the States to make law with respect to ‘supply of goods and services’. Effectively, in respect of ‘supply of goods and services’, taxes may now be imposed only under Article 246A of the Constitution and such tax is Goods and Services Tax (“GST”).

article author Akhil Gupta

Posted On:  2 years ago


GST - Game Changer

I have complied summary on GST. It will be worth to read.After a decade-long struggle, the Goods and Services Tax (GST), which has already been adopted by 160+ countries in some form or the other, sailed over the first of three hurdles when the Rajya Sabha unanimously adopted the Constitution Amendment Bill to facilitate its legislation.

article author Hitesh Shah

Posted On:  2 years ago


Understanding Goods and Service tax

The taxation system in India is composed of various taxes on different activities and governed by various Tax Laws and Regulations. The taxes are levied on various types of activities such as manufacturing, trading, services, imports etc., In indirect tax structure the ultimate bearer of tax is not the person, who is paying the tax but the end users or customers who are using various products and services. The Indirect Tax Structure includes following taxes;

article author CS Deepak Pratap Singh

Posted On:  2 years ago


FAQs on Goods and Service tax(GST) its basics and how it works

GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set- off benefits at all the previous stages.

article author CA Chirag Chauhan

Posted On:  2 years ago


Clearance of bunker fuels to Indian Ship/Vessel carrying containerized cargo

It is hereby directed to refer to Si. No. 65A of notification no. 12/2012-CE dated 17.03.2012 as amended whereby clearance of bunker fuels (i) IFO 180 CST (ii) IFO 380 CST, for use in ships or vessels has been permitted without payment of Central Excise duty subject to the conditions specified under SI. No. 52 of the annexure to the notification. In this connection, trade has requested

article author One Roof Consultant

Posted On:  2 years ago


Vat Registration in Rajasthan (TIN no.)

This article provides that who is required to get register with sales tax department in rajasthan and what's the procedure for the same.

article author AMIT AGRAWAL

Posted On:  2 years ago


DVAT Rewards Scheme for Dealer

Delhi VAT: Reward/Appreciation scheme for dealers GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES: VYAPAR BHAWAN I.P.ESTATE: NEW DELHI -110 002 No. F.3(632 )/Policy/VAT/2015/PF/363-69 Dated: 10-06-2016

article author PANKAJ KUMAR SHARMA