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Archive for June, 2010

Guj-VAT Notification: Disallowance of ITC

June 30, 2010 ⋅

In a latest Notification dtd.29-Jun-2010, the Gujarat Government has notified – 1.       Input Tax Credit will be reduced by 2% on taxable turnover of Purchases when – a.       the goods are sold / resold in the course of inter-state trade and commerce;  b.      the goods are used as input including raw material in the manufacture […]

Service Tax Amendments – The Finance Act, 2010

June 26, 2010 ⋅

[By Shaleen Shah (Partner), VNCA] DOWNLOAD PDF FILE Budget-2010 proposed several amendments under Service Tax. The Finance Bill, 2010 presented on 26-Feb-2010 was enacted & received the assent of the President on 8-May-2010. Post Budget, several notifications were issued to effect certain budget proposals. In a further Notification No. 24/2010-ST dtd. 22-Jun-2010, the Government has […]

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