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Archive for September, 2015

Intangibles–ambiguity between VAT & Service Tax

[Source: forbesindia.com; Author: Rajeev Dimri, Leader, Indirect Tax, BMR & Associates LLP] Levy of service tax on provision of ‘services’ and value added tax (VAT) on sale of ‘goods’ is clearly demarcated and may look simple enough to the uninitiated.  However, this simplistic differentiation regarding the nature of levy becomes perplexing in the case of […]

ITC cannot be denied where registration is cancelled retrospectively–Gujarat HC

Under Gujarat VAT Act, amongst other conditions, the purchasing dealer can claim input tax credit (ITC) only if the purchases are made from another registered dealer. In cases where the assessee had purchased the goods from a dealer who was a registered dealer and, subsequently the registration of the said seller is cancelled retrospectively / […]