MVAT- Administrative Relief to developers if combining fee paid The Taxation of Developer was material of the Court proceedings. Hon’ble Supreme Court of India upheld the constitutional validity of the modification to section 2(24) of the Maharashtra Value Added Tax Act, 2002. As a result developers became at risk of pay tax below geographic region […]
Fat tax impose in kerala on burgers, pizzas in budget Finance minister Thomas Isaac, who presented the revised budget for 2016-17 on Friday, said the government will raise tax revenues through nine schemes, which include introduction of a 14% “fat tax” on burgers, pizzas, tacos, doughnuts, sandwiches, burger patties, pasta and bread-fillings. The budget expects […]
Green body proposes 22% tax on diesel cars Vehicle buyers may face a truly prohibitive tax, going up to 22 per cent of the vehicle cost, on diesel cars if the recommendations of the Environment Pollution (Prevention and Control) Authority (EPCA) are implemented.
Profession Tax Enrollment Amnesty Scheme 2016 The Maharashtra State Tax on Professions, Trades, Calling and Employment Act, 1975 (Profession Tax Act) is implemented with effect from 1st April, 1975. Under this act, every self employed person engaged in any profession, trade, callings and employment in the state of Maharashtra is required to obtain Enrollment certificate […]
KVAT: Settling the dust on the Input Tax issue The Value Added System of Taxation of Goods was introduced in order to address the issue of multiplicity of taxes and cascading effect of such taxes in the transaction chain. In the erstwhile single point taxation, goods which underwent any manufacture or processing where subject to […]
Service Tax versus VAT on Renting of Motor Vehicles Currently, there is lot of confusion among the industry, trade and the taxmen on whether the activity of Renting of movable goods or supply of tangible goods attracts Service Tax or whether it attracts Sales Tax. The confusion has only been used as a tool by […]
GST- Proposed Input tax credit methodology Goods & Service tax (GST), the mile stone tax reform since independence of India is on its way to implementation journey and proposed GST bill is under discussion everywhere. This is very crucial stage to understand the various methodologies proposed in the GST bill. As we all aware that […]