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News from Punjab
Entry Tax
Consequent to the promulgation
of the Ordinance providing for tax on entry of goods into local areas, the
Government of Punjab notified that the same would be leviable @ 4% on and with
effect from 21st November, 2007 on the entry of Iron & Steel, Dyes and
Chemicals, all types of Yarn and Sugar.
Source : Punjab &
Haryana Taxes (2007) 30 PHT 128 (JS).
News from Rajasthan
1. By notification dated 20th
November, 2007, government of Rajasthan have amended Rules appended to the
Rajasthan VAT Act, by insertion of Rule 19A providing for the electronic filing
of returns and electronically deposit of tax under the Rajasthan VAT Act.
2. By another notification dated 27th November, 2007, the Government of
Rajasthan also amended Rule 4 of the Central Sales Tax (Rajasthan) Rules, 1957
by insertion of Rule 4A in the said Rules prescribing the electronic filing of
returns and electronic deposit of tax under the Central Sales Tax Act.
3. By notification dated 10th December, 2007, the Government of Rajasthan
amended Rule 36 of the Rajasthan VAT Rules, 2006, whereby the time limit for
submitting the VAT Audit Report relating to the financial year 2006-07 was
extended. Now the VAT Audit Report can be submitted up to 15th February, 2008.
Source : Shri M. L.
Patodi, Advocate, Kota, Rajasthan
News from Tamil Nadu
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Exemption
The Tamil Nadu Government, by
notification dated 27th September, 2007, have granted exemption of the tax
payable by a dealer on the sale of any goods for use in the execution of
turn-key projects by main or sub-contractors, registered under the Tamil Nadu
VAT Act but restricted it to the agreement with M/s Foxconn India Developer
Pvt. Ltd., for construction or development of the Special Economic Zone in
Sipcot area. The exemption, however, was made conditional to the submission of
a declaration from the said company once in a year.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 289.
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E-filing of return
The Commissioner of
Commercial Taxes, Chennai, have emphasised by a Circular dated 23rd October,
2007 that the assessing officers should not insist for the annexures to the
monthly return in CD, from small dealers whose monthly transactions were
twenty or less in number.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 293.
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No ITC reversal
The Commissioner of
Commercial Taxes, Chennai, by a Circular dated 8th October 2007, advised that
the refund of input tax credit cannot be denied or restricted for non-filing
of ‘C’ Form or ‘F’ Form under C.S.T. Act. On that account, input tax credit
was not required to be reversed.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 294.
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Earlier notification continue
The Commissioner of
Commercial Taxes, Chennai, clarified that the sales to government departments
were liable to be taxed @ 4% by virtue of the notification issued under the
Repealed enactment, namely Tamil Nadu General Sales Tax Act, especially in
view of the saving clause.
Section 88(3) of the Tamil
Nadu VAT Act under which the notifications, rules and regulations that were
issued earlier were served in so far as they were not inconsistent with Tamil
Nadu VAT Act.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 295.
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Input Tax Credit
The Commissioner of
Commercial Taxes, Chennai, clarified by a letter dated 17th September, 2007
that there was no time limit for availing the input tax credit which can as
well, be carried over to be refunded after some time. It has also been stated
that the claim for input tax credit should be made within a period of 90 days
from the date of purchase or before the end of the concerned financial year.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 298.
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Sale to exporters – Against
‘H’ Form
The Commissioner of
Commercial Taxes, Chennai, clarified that the dealers selling goods to
exporters were deemed exporters and therefore such transactions were covered
by zero rate sale. Consequently there was no need to collect tax on their
transactions with the exporters.
Source : The Tamil
Nadu Commercial Taxes Journal, Vol. 13 No. 8, Page 304.
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