State Government cannot levy the tax on inter-State Transactions however all such transaction are administered by the State Government that’s why provisions relating to State’s VAT in many situations are applicable even in such transactions.
The festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to all. Children enjoy the festival very joyfully. All religion teaches same spiritual thoughts. All people should live and let others live happily and peacefully. To teach good thoughts is the only […]
Inter-State Vs Intra State -Sale/Purchase Registered dealers are eligible for certain concession or exemption of tax on inter-State transactions Under the Central Sales Tax Act, 1956 (in short CST), if dealer is able to comply with certain conditions. By Submission of statutory forms like Form C, F, H, I, E-I or E-II etc. However before […]
If Internal Audit report is carried out fairly it becomes very crucial document for Statutory Auditors, The statutory auditor may use internal audit report in a meaningful manner and can perform his duties in a better way. Which can help to perform Statutory Auditor’s while performing their Final Audit. Internal Audit report is a very […]
Service Tax on Real Estate Transactions APPLICABILITY: Service tax on real estate transactions implication on almost every sector, and real estate is no exception. With the introduction of the negative list concept since July, 2012, the scope of applicability of Service tax has increased manifold . A summarized analysis is contained herein providing guidance on […]
Income of Trusts In India there are many religious/charitable trusts for e.g. temples, Ashram, Gurudwaras, hospitals, educational, etc. propagating and working for social and charitable activities. What about their financial and taxing matters? These trusts have to follow many regulations. Mainly they have to follow the rules of Bombay Public Trust Act (For Maharashtra State), […]