Also Read - MVAT Audit Report in Form e-704

Introduction   Regular audits are essential to ensure compliance and transparency in taxation. The new VAT Audit Form — 704 has brought out many major changes that are important for companies operating under the Sales Tax Act. The Maharashtra Value Added Tax Rules introduced this complete form with the objective of reducing the audit procedure and improving the effectiveness of tax administration. In this article, we’ll go into detail about the new VAT Audit Form 704, includin...

Also Read - Assessee cannot be asked to reverse input tax credit due to non-payment of taxes by the selling dealer

Sri Lakshmi Textiles Vs. the Commissioner of Commercial Taxes and Others [2016 (1) TMI 329 - MADRAS HIGH COURT] Facts: Sri Lakshmi Textiles(“the Petitioner”) is a partnership firm engaged in the business of inner garments and textiles registered under Tamil Nadu Value Added Tax Act, 2006 (“TN Vat Act”). The Petitioner was regularly filing the VAT return and paying the VAT liability after adjusting the corresponding input tax credit. For the Assessment Year 2013-2014, th...

Also Read - Registration under Gujarat VAT TIN and CST TIN - A Common Man's Guide - Part I of Series 10 on 10

A lot of queries comes to mind when one thinks about taking registration under Gujarat VAT and CST Laws. Some of the queries and their answers are published as follows for the benefits of the readers: What is VAT / CST / TIN / Sales Tax ? Answer: VAT means Value Added Tax On Sales. CST means Central Sales Tax. TIN means Tax Identification Number. And Sales Tax is Tax on Sales.  In a Summarized way, in any State Law, two types of registrations are available. Fir...

Also Read - Supply to high seas vessel is liable to VAT if any territorial nexus exist in the State

Supply to high seas vessel is liable to VAT if any territorial nexus exist in the State Raj Shipping Vs. State of Maharashtra [2015 (62) taxmann.com 309 (Bombay)] In the instant case, Raj Shipping (“the Petitioner”) was engaged in "Bunker Supplies" which mainly consisted of supply of High Speed Diesel Oil (“HSD”) to various incoming and outgoing vessels within or beyond the port limits of Mumbai port. The Petitioner was not paying Sales tax on supply of HS...

Also Read - No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value

No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value Mapra Laboratories Pvt. Ltd. Vs. Commercial Tax Officer [(2015) 63 taxmann.com 91 (Patna)] Mapra Laboratories Pvt. Ltd. and others (“the Petitioners”) were engaged in manufacture and sale of medicines and had been regularly filing returns to the concerned Authorities. The Petitioners were claiming an exemption in respect of fre...

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