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Gujarat VAT & CST

This category contains 69 posts

Gujarat VAT Dealers will now have to file stock details in 201C every month

As per Gujarat VAT Rules, till now Dealers were required to file Stock Statement in prescribed Form 201C every quarter other than certain small scale Dealers who had to file the Stock Statement on half-yearly basis. Through a Notification dtd. 12-May-2017, the Gujarat Government has amended the aforesaid Rules stipulating that w.e.f. April 2017, Dealers […]

GST Enrolment–Transition of existing tax payers to GST

[By Shaleen Shah (Partner), VNCA] The Government has started preparation for transition of existing tax payers to GST. All existing taxpayers registered under any of the following Acts will be transitioned to GST:  1) Central Excise 2) Service Tax 3) State Sales Tax or VAT 4) Entry Tax 5) Luxury Tax 6) Entertainment Tax Existing […]

Exporters need to prepare for GST

[Source: www.thehindubusinessline.com; Author: Ajay Srivastava] GST will usher in a new regulatory regime for India’s exports. For the manufactured product exporters, the most significant impact would be the increased requirement and blockage of working capital. For manufacturing a product, a firm buys locally or imports raw material and machinery. The current export schemes allow firms […]

GST may trigger consolidation in warehousing space

[Source: economictimes.indiatimes.com] The goods and services tax (GST) regime could usher in consolidation in the Indian warehousing space, property consultants and analysts said. With the government pushing for an April 2017 rollout of the single tax structure, many manufacturers who had built or leased warehouses in nearly every state to avoid duplication of taxes don’t […]

Why India’s GST is one of the world’s most complex tax reforms

[Source: www.bbc.com] Will India, a $2 trillion (£1.5tn) economy with 1.3 billion consumers, now become a truly single market? Many believe the landmark goods and services tax bill – passed by parliament on Wednesday evening, after years of filibustering by the ruling BJP and main opposition Congress – is a key step in that direction. […]

Gujarat VAT/Sales Tax Amnesty Scheme-2016

[By Shaleen Shah (Partner), VNCA] In the Gujarat State Budget for FY 2016-17, the State Finance Minister had announced that in view of the imminent implementation of the composite Goods & Services Tax (GST), it was necessary to resolve the problems relating to past outstanding tax dues under the VAT / Sales Tax laws. To […]

Download Draft Model of GST Law

Download Draft Model of GST Law

Flipkart challenges Gujarat entry tax on online sale in HC

[Source: timesofindia.indiatimes.com] The Gujarat high court on Thursday issued notice to the advocate general and state authorities concerned over a petition filed by India’s largest online marketplace Flipkart Internet Pvt Ltd objecting to state government’s law levying entry tax on goods sold in Gujarat through online shopping. This happened after the state government made amendments […]

Gujarat Budget 2016-17–VAT Amendments

[By Shaleen Shah (Partner) with Kirit Rana (Manager-VAT), VNCA] Gujarat Budget 2016-17 was passed by the State Assembly on 30-Mar-2016. The gist of VAT amendments enacted in the budget read with relevant notifications is as follows – INCREASE IN TAX RATES W.E.F. 1-APR-2016: 1. New Entry No.49C in Sch-II: Luxury Cars & SUVs with price […]

SC to lift entry tax cap, Rs 10k cr bonanza for states

States can expect a revenue bonanza of up to Rs 10,000 crore to be paid by big corporate houses in the manufacturing sector as the Supreme Court on Friday said it would in April vacate its three-year-old interim order asking authorities to collect only 50% of entry tax. Approximately Rs 30,000 crore is due from […]