Blogs

VAT is a levy on sale of goods. For the purpose, it is usually the seller who would be held liable for payment of VAT. However, there are few exceptions created under the VAT provisions. As per Section 3(2) of KVAT Act 2003, in case there is a sale by an unregistered person to a registered dealer, then the tax shall be paid by such registered dealer who is a buyer of goods. Similarly exceptions are created with respect to collection and payment of tax especially in case of industrial canteen...

Renting/Hiring of Motor vehicles has mostly been an unorganized operating with limited vehicles (mostly owned) covering limited geographical area and very limited outlook to grow. However, outlook of this sector is now changing with tons of investment being infused by established Indian corporate and foreign investments. In a sector where change seems good and growth seems obvious it is the responsibility of the government to ensure that uncertain fiscal policies must not create unnecessary...