Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« VAT (Value Added Tax) »
Open DEMAT Account in 24 hrs
 Gujarat slashes tax on ATF by 5 per cent
 CENVAT Credit can’t be denied If ISD invoices issued for distribution of ITC prior to Registration
 1 step forward, 2 steps back. Is GST going the VAT way?
 1 step forward, 2 steps back. Is GST going the VAT way?
 Pending VAT comes to haunt companies claiming input tax credit
 One-time settlement of VAT, excise disputes in the works
 Haryana government uploads photos of VAT defaulters
 Filing of online return for 4th quarter of 2017-18 extension of period thereof.
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns

Excise dept to formulate friendly policies for VAT dealers
June, 23rd 2015

Excise and taxation department would be formulating friendly policies for Value Added Tax (VAT) dealers to ensure that working becomes hassle free and more transparent there by resulting in increased revenue for the government as well. This was discussed in a meeting of the excise and taxation commissioner with Punjab tax bar association along with industrial associations.

A meeting in this regard was held in the Circuit house on Monday morning that continued till evening in the presence of excise commissioner Anurag Verma. The tax bar association agreed with the department on many issues and gave their detailed list of demands to the department.

Verma assured that whenever the department team conducts a raid they will be carrying a consent letter of the assistant excise and taxation commissioner and the dealers would also be allowed to get the videography of the raid done at their own cost and call their advocate as well. He said that a notification in this regard would be released shortly by the department.

However, he informed that there could be a relaxation on filing return on the liability that is less than Rs 2 lakh which would be good for the dealers. Members of the bar association sharing their problems with the department said they were facing problems in making online payments on ICC barriers and demanded that they should be allowed to make payments in cash. This demand was also accepted by Verma who assured that they will do the needful for removing all these problems.

Verma, who assured the VAT refund systems would also be improved, informed that earlier the pending VAT refund was to the tune of Rs 500 crore and now it has been reduced to Rs 300 Crore.

On being asked about the implementation of the Goods and Services Tax in April 2016 all across the country Verma said that the Punjab Government was all set to implement this tax and that the homework for the same was being done.

In the meanwhile a delegation of the Federation of Industrial and commercial organization also met the Commissioner and shared the problems of the industry.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting