Click to download Uttar Pradesh Draft VAT Act, 2007 and Draft VAT Rules, 2007 Click to view TNVAT Circular No. 14/2007 dated 16/08/2007 and Appeal by Commissioner of CT

 

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Uttar Pradesh VAT Ordinance, 2007 Published.

Click to download UP Ordinance, 2007

Uttar Pradesh Draft VAT Act, 2007 and Draft VAT Rules, 2007 Published.

Click to download Draft VAT Act, 2007 and Draft VAT Rules, 2007

Circular No. 14/2007 dated 16/08/2007

Tamil Nadu General Sales Tax Act 1959 - Rate of tax clarification under Section 28-A - Printers who had opted for payment of tax under Section 3(G) of the TNGST Act,1959 are also entitled to purchase inputs against Form-XVII.

Click to view Relevant Circular

Appeal by Commissioner of Commercial Taxes

Availability of Statutory Forms - Communication by Commissioner of Commercial Taxes on sufficient availability of Statutory Forms like Form C and request to communicate delay, if any, in collection of statutory forms from other states.

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Amendments to Entry 67A - Part B – Schedule I

Certain goods had been notified as liable to VAT at 4% vide Notification No. II(1)/CTR/46(b)/2007- G.O. Ms. No 135 dated 16/07/2007.

The above notification has been amended retrospectively with effect from 16/07/2007 by Notification No. G.O. Ms. No. 145 dated 03/08/2007. The effect of the amendment is that Lubricating Oil and LPG would be liable to VAT at 12.5% with effect from 16/07/2007, except when sold as Industrial Input to manufacturers under Entry 67 of Part B to Schedule I.

Click to download Relevant Notification

Industrial Inputs liable to VAT at 4% even when sold to traders

Industrial Inputs which are sold either by the manufacturer or by the trader liable to VAT at 4% notified with effect from 16/07/2007.

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TAMIL NADU VAT 12.5% Schedule

Notification listing the goods liable for VAT at 12.5% under Part- C of Schedule I to the TNVAT Act,2006 has been issued.

Click to download Relevant Notification

TIN Number under the Puducherry VAT Act

TIN numbers have been assigned to dealers already registered under the PGST Act.

Click the following link to know your TIN Number.

http://vat.pon.nic.in/knowtin.aspx

Puducherry VAT Rules and Forms Notified

Click to download Puducherry VAT Rules and Forms, 2007

Click to view Puducherry VAT Rules, 2007

Puducherry is implementing VAT with effect from 01/07/2007

Click to download Puducherry VAT Ordinance and Schedules, 2007

Click to view Puducherry VAT Ordinance and Schedules, 2007

AMENDMENTS TO CST Act, 1956

The Taxation Laws Amendment Act, 2006, amending the CST Act, 1956 and the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) Act comes into effect from 01/04/2007 vide notification   No. 1/2007-CST F.No.34/135/2005-ST  dated  29/03/2007.

Substantial changes in the CST Act are

1) The rate of tax for sale to registered dealers , against Form C, would be 3% or  or at the rate applicable to the sale or purchase of such goods inside the appropriate State under the sales tax law of that State, whichever is lower:

2) In the case of sale other than to registered dealers, the rate of tax applicable would be the rate applicable to the sale or purchase of such goods inside the appropriate State under the sales tax law of that State

The important change to note is that, for sales after 01/04/2007, in the case of goods subject to tax on sale within the State at 4%, the rate of tax on inter state sale would only be 4% and not 10%  

3)   Provision for sale to Government at concessional rate of tax against Form D has been deleted. The rate of tax on sale to Government would now be the rate of tax applicable under the VAT Act.

4) Tobacco has been removed from the list of declared goods under the CST Act. The   States may therefore levy tax at rate of tax higher than 4%

Disallowance of Input Tax Credit for Stock Transfer

VAT Act of most States, specify that a dealer would be eligible for Input Tax Credit in excess of 4% when goods are stock transferred. The disallowance of 4% was with reference to the rate of tax of 4% applicable on inter state sale to registered dealers against Form C. 

Some of the State VAT Act specifies the disallowance as restricted to rate of tax applicable on inter state sale to registered dealers or have specified the disallowance as restricted to the rate specified in Section 8(1) of the CST Act.

VAT Acts of Assam and Kerala have linked the rate of tax to Section 8(1) of the CST Act.

With the reduction of CST rate of tax to 3% on sale to registered dealers it is expected that the State VAT Acts would be amended to restrict the disallowance to 3%.

 





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