Blogs

The K-VAT Act 2003 [ Implemented in 2005- 2007] brought about a welcome change to avoid the cascading effect of multipoint levy and made the taxes borne at each stage reasonable, bearable and less. However as a normal dealer [other than a manufacturer]  be adding value to the extent of 10-20 percent , the ITC could be 5 times the tax paid, therefore amount  be substantially more.  

For readers from other States this article may only be indicative and the provisions may vary and...

What The Marketing Executive/ Manager needs to know about Indirect Taxes?  

The successful marketing man knows the customer’s needs well, understands his business, the cost of products / services sought to be sold, looks at serving the customer better. In this article we look at a few options/ situation and understand the impact. The central excise duty & service tax rate is 12.36 percent , VAT could be around 5 percent or 14 percent depending on the State and product. CST for...

Issues and Possible resolution – Negative List  

In this article we examine some of the common issues arising from the negative list entries in sequence.  

Agriculture related services  

1. Whether agriculture operations should be carried out in rural area only for coverage by negative list entry?  

Comment: No. There is no condition that the agriculture activities should be performed in rural area only.  

2. Whether activities of horticulture, animal...

One of the major challenges for the assessee is –avoiding of the disputes with the department. To avoid/ reducesuch disputes with the department, one must understand the reason for such dispute. In this write up, we have analyzed the best practices of avoiding disputes with the department by using alternative measures/policies. We would understand the following in this writeup -  

1. Possible causes for the Disputes along with measures to mitigate them?  
2. How to avoid...

Introduction:  

The service tax law based on negative based taxation has been effective from 1st of July 2012. This regime is expected to augment the government’s revenue even in this period of slack business/ growth by tapping hitherto untaxed areas of various activities. It is expected that the new law would lead to large amount of disputes and challenges where unintended transactions would be subjected to the tax. One of the main issues causing concern in the trade is the joint...