Category Archives: Sales Tax

Sales tax,vat tax india,gst

Reversal of credit on exempted services before 30th June

Reversal of credit on exempted services before 30th June
Mechanism of availing Cenvat credit in case of manufacturers or service providers having both taxable and non-taxable activities has been subject to litigation. Lot of developments have happened in Rule 6 of Cenvat credit Rules 2004 in specifying the mechanism for availing the credits.

70% of all goods and some consumer durables to become cheaper under proposed GST regime

70% of all goods and some consumer durables to become cheaper under proposed GST regime
A number of goods such as cosmetics, shaving creams, shampoo, toothpaste,soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax (GST) regime as most items are likely to be subject to the rate