d. chandra sekhar
31 December 2012 at 09:16
The dealers engaged in the business of trading in hardware items. The dealer has supplied material to the contactors engaged by he unit of SEZ for setting up of SEZ units in the processing areas of Special Economic Zone and the dealer has not collected any vat on the sales made to the contractors basing on the certificate issued by the commissioner of SEZ and declared as zero rated sales.
During the course of vat audit the CTO treated these zero rated sales as taxable sales and raised tax as prescribed under APVAT ACT on the ground that as per section 7A of the AP VAT ACT exemption only to the sales made unit of SEZ located in the processing zone or developing of the SEZ.
And also stated that section 7a of ap vat act was inserted on 24.09.2008 subsequent to the entry 59A which was added to the Schedule on 01.06.2008, the provisions of Section 7A prevail over the entry 59A of the schedule of the AP VAT Act. Hence, the sales made by a dealer to contactor are not available for exemption. Accordingly exemption is proposed to be disallowed and same will be subjected to tax @ 14.5%.
Question:
1. Contractors engaged by the Units of SEZ for setting up of SEZ units are also liable to pay VAT under VAT Act.
2. The dealer has supplied the material basing on the certificate issued by the Commissioner of SEZ without collecting the VAT. What is the validity of certificate of SEZ Commissioner.
3. Please advise, and also provide any case laws in support.
sivachalapathy
31 December 2012 at 06:28
hi my mother working as a village health nurse in government hospital am going to work in tcs so they need form 16 from me so i have to get form16 for my mother please tel where my mother get form 16
KOUSHIK GHOSH
30 December 2012 at 19:31
Our company is a Registered Dealer under West Bengal VAT Act. We have got a Works Contract from an all India basis company of their Kolkata Office but the Works Contract Job has to be carried out in Orissa. We do not have any establishment in Orissa. As this is the Works Contract, party will not give us Way Bill for transportation of materials from Kolkata to Orissa. So what is the procedure for Transportation of material for this works contract job from West Bengal to Orissa.
sunil
30 December 2012 at 13:01
Respected Sir/ Madam
In the AY 2013-14, I’ve taken joint home loan from SBI for purchasing a constructed house, and the loan has been used for the purchasing of the house.
I am the co-borrower of the home loan, my mother being the principal borrower.
Further, I am repaying the EMI of the loan. The property is registered in the name of my mother only. The 'ikraarnaama' of the property bears the name of both of us.
Also, in the loan documents it is mentioned that I'll be paying the entire loan amount.
My queries are:
Since the house is registered in the name of my mother only, would I be regarded as the 'owner' of the house under section 27 of the Income Tax act.
Whether I am eligible for the relief under sec 24 and sec 80c of the Income Tax act?
Would you please provide me with relevant circular(s) or rule(s) in this regard?
What documents do I need to claim the releif in the income tax?
Regards.
seema
28 December 2012 at 20:30
We are not satisfied with assesment order .So we if we go to CIT for revision under s264,Is it true that after appealing to CIT under S 264,apellant can not appeal to CIT Appeal ?
Pankaj
27 December 2012 at 16:30
Is 80ic is available where no direct sale from theeligible unit bt through its various branches situated in other states?
srikant sharma
26 December 2012 at 20:36
dear sir,
pls send me the dvat form 2a & 2b filing help
thanking u
srikant sharma
Amit Kumar Seth
25 December 2012 at 11:55
when we creat huf pan card.
Yes
HUF can Have Pan Card.
iti
24 December 2012 at 19:55
In our case under sec 148 Income tax Act,AO has sent by post both Assessment order as well as penalty showcause u/s 271,274 ITAct to us.Now the penalty showcause shows a forthcoming date as opportunity of hearing against penalty levied.How can the assessment order be final then?
Has the AO erred by not giving penalty showcause and hearing before making final assessment order?
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Stamp duty tax exemptions on agriculture land or land purchase !!
Dear Sir,
I am from farmer background and working software professtional.
I purchased a agriculture land near to my home town and would like to know that can I use stamp duty paid during registry for TAX EXEMPTION like for house.
Please confirm.
Thanks a lot in advance.
Regards,
Atul