Statutory Obligations for the month of September 2016
The following are the various statotory obligations for the month of September 2016 :- [table id=14 /]
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VAT Registration in Chennai
TNVAT – Changes proposed in Budget 2015-16
The State Budget for the year 2015-16 was presented in the Legislative Assembly today. There were certain proposals proposed in the budget presented. The following are the proposed Changes in TNVAT :- 1) Electricity Tax on generating plants using Biomass (excluding bagassee) will be withdrawn to give a boost to green energy producers. 2) Input Tax Credit
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Registration under TNVAT Act – New Procedure
The Tamilnadu Commercial Tax Department has issued a new Circular No 2/2014 prescribing the revised guideline and procedures to be adopted for Registration and Issue of Registration Certificate to dealers. The salient features of this circular are as follows :- 1) Previously, application for new registration of a business in respect of six evasion prone
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Important amendment to TNVAT Act regarding ITC Reversal
The Tamilnadu Government has made few important amendments in TNVAT Act with regard to reversal of Input Tax Credits in respect of Inter-state sales and Stock Transfers outside the State. These amendments were carried out by enacting a Tamilnadu VAT (Fifth Amendment) Act, 2013 (Amendment Act) on 8th November 2013. The effective date for these
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How to check whether a TIN / CST Number is genuine ?
Many times business entities get Invoices and Forms (Form C, Form F, Form E-I, E-II) out of the state where their office is situated. As a business entity , during VAT / CST assessments , the onus is on the assesee to prove the genuinity of the Invoice/Forms and the Registration of the dealer from
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TN VAT Registration – Who are Liable?
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
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