The following are the Various Statutory Obligations for the month of December 2012. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2013-14 is 15th December 2012. Click here to make Advance Tax Payment online. Click here to download Challan for […]
Statutory Obligations for the month of December 2012 Read More »
The TNVAT Audit was earlier made applicable by way of TNVAT Notification for the year 2011-12. As per the earlier circular, Form WW TNVAT Audit report had to be filed for the year 2011-12. Due to the short span of time available and inconvenience caused the Tamilnadu VAT Department has changed the applicability of the
Change in TNVAT Audit Applicability Read More »
The TNVAT Department has issued a circular No 09_2012 dtd dtd 14.09.2012 regarding the applicability of the VAT Audit in respect of assessees having turnover exceeding Rs. 1 Crore. As per the above circular, the VAT Audit will be applicable for the year 2011-12 and accordingly , VAT audit report has to be submitted by
Clarification on TNVAT Audit applicability Read More »
The Government of Tamilnadu has notified through publication in the official gazette, certain changes in Monthly returns to enable generation of Form C & Form F online through TNVAT portal. The relevant notification is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2012/08/gn232_100812-1.pdf”]
Change in TNVAT Monthly return Read More »
VAT Input Credit is not available for all types of purchases, there are certain purchases which are in eligible for Input Tax credit Claim. The Eligible and Ineligible Purchases for the purpose of Input Tax Credit are given below :- Eligible Purchases: Purchases made: è For sale/resale within the state è For interstate sale (Sale
Eligible & Ineligible Purchases for VAT Input Tax Credit Read More »
Most of the VAT legislations in India do not allow the set off of CST Paid against their output tax. But at the same time, these legislations allow set off of Input Tax credit against the CST due. As a common man, a question may arise why this is not allowed vice-versa. The reason is
Logic behind allowing VAT Credit against payment of CST and not allowing credit of CST. Read More »
The Government of Tamilnadu vide its notification dtd 09th March 2012, has reduced the rate of tax on sale of ready to eat unbranded foods and mineral water served in or catered indoors or outdoors by hotels , restaurants, sweet-stalls, clubs , caterers and any other eating houses , to 2% of the taxable turnover.
TNVAT on unbranded food & Mineral water reduced to 2% Read More »
The following are the various statutory compliances for the month of March 2012 Payment of Service Tax (Feb 2012 Due) The last date for Payment of Service tax pertaining to the month of Febraury 2012 is 5th of March 2012. In case of e-payment, the due date is 6th of March 2012. In case of
Statutory Compliances for the month of March 2012 Read More »
The following are the Various Statutory Obligations for the month of January 2012. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of December 2011 & for Quarter ended 31st December 2011 , is 5th of January 2012. In case of e-payment, the due date is 6th of
Statutory Obligations for the month of January 2012 Read More »
The following are the Various Statutory Obligations for the month of December 2011. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2012-13 is 15th December 2011. Click here to make Advance Tax Payment online. Click
Statutory Obligations for the month of December 2011 Read More »
The following are the Various Statutory Obligations for the month of October 2011. Payment of Service Tax The last date for Payment of Service tax pertaining to the Quarter 2 (July 2011 to Sep 2011) is 5th of October 2011. In case of e-payment, the due date is 6th of October 2011. In case of
Statutory Obligations for the month of October 2011 Read More »
The TNVAT (5%) imposed on the textile products with effect from 12.07.2011 has been withdrawn by the Government of Tamilnadu with retrospective effect. This was announced by the Chief Minister of Tamilnadu after the Cabinet meeting decided to withdraw this tax. The relevant Notification is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2011/07/GO-90_210711.pdf”]
TNVAT 5% on Textiles Withdrawn Read More »
The Tamilnadu Government has changed the rate of TNVAT from 4% to 5% and 12.5% to 14.5%. The relevant notification is attached below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2011/07/GO76_110711.pdf”]
Changes in TNVAT Rates Read More »
Every dealer who is liable to pay tax under this Act shall file return on or before 20 th of the succeeding month to Assessing authority in whose jurisdiction the principal place of business is located along with statement of purchases and sales effected by him during the month in the Form specified in Rules. Every dealer whose taxable turnover in
TNVAT Monthly Return Filing Read More »
1) Those dealers whose total turnover in respect of purchase and sales in the State is not less than Rs.10 lakhs for a year are to get registered under the Act. 2) The other dealers whose total turnover for a year is not less than Rs.5 lakhs shall get registered. 3) Casual Traders, agent of
TN VAT Registration – Who are Liable? Read More »
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