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Showing posts from June, 2013

Last date for filing Stock Statement Extended

In partial modification to Notification No. F.7(433)/Policy-III/VAT/ 2012/472-483 dated 16/08/2012 for filing of Stock Statement in form Stock-1 online for stock available on 31st March 2013, the last date has been extended on the basis of turnover as per chart below
Class of Dealers Last Date for filing of stock statement in Form Dealers having Gross Turnover (GTO) upto Rs. 1 crore during the year 2012-13 05/08/2013 5th August 2013 Dealers having Gross Turnover(GTO) more than Rs. 1 crore during the year 2012-13 05/10/2013 5th October 2013 COPY OF NOTIFICATION


DVAT -  E Filing of Forms for registration with Trade and Taxes Dept. Delhi  In pursuance of the earlier notification dated 18.06.2013 regarding mandatory registration with DVAT Department and as informed in our previous communication titled “DVAT UPDATE : SECURITY ON REGISTRATION DONE AWAY WITH” WEF 01.07.2013 E filing of DVAT 04 shall become mandatory.
Now in partial modification to that notification, another Notification No. F.7(453)/Policy/VAT/2012/339-349 has been issued which makes it mandatory to E-file the following forms along with DVAT 04 where ever applicable at the time of registration.

Form A Application for Registration u/s 7(1) / 7 (2) OF THE CENTRAL SALES TAX ACT,1956 WC 01 Application Form for opting Composition by an eligible works contractor in respect of scheme as notified by Government under sub-section (12) of section 16. DVAT 01 Application For Opting For Composition Scheme (General) DM 01 Application Form for opting Composition by an eligible drugs and medicine dealer…

DVAT – Form T 2 form when to fill, what to do?

DVAT – Form T 2 form when to fill, what to do?

The Trade and Taxes Department Delhi has issued a notification dtd. 17/05/2013 clarifying the requirements with regard to Form - T2 applicable to Purchasers/ Importers/ Dealers who are receiving goods from outside Delhi.

Applicable to Whom Dealers having GTOmore than or equal toRs. 10 crores in the FY 2011-12.
Exemption Dealers dealing exclusively in Tax Free Goods need not file T2.
What if the turnover was not 10 crore in 2011-12 but exceeds limit in any subsequent year? T-2 shall become applicable from such subsequent year in which T/o exceeds Threshold limit.
What if Turnover is 10 crores or more in one FY for example 2011-12 And then in subsequent FYs T/o is below 10 Crores what is the liability regarding T-2? Once the dealer becomes liable he shall have to file T-2 for all times to come.Even if T/o in subsequent FY is below 10 Crores. (Explanation to notification)
What to file in Form T-2 Details of invoices and G R No.,Details …

The Central Government has made new rules relating to commodities Transaction Tax. (Notification No: 46/2013)

Commodities Transaction Tax Rules, 2013
Effective Date   1st day of July, 2013.
Agricultural Commodities (i) Almond (ii) Barley (iii) Cardamom (iv) Castor Seed (v) Channa/Gram (vi) Copra (vii) Coriander/Dhaniya (viii) Cotton (ix) Cotton seed Oilcake/Kapasia Khali (x) Guar Seed (xi) Isabgul Seed (xii) Jeera (Cumin Seed) (xiii) Kapas (xiv) Maize Feed (xv) Pepper (xvi) Potato (xvii) Rape/Mustard Seed (xviii) Raw Jute (xix) Red Chilli (xx) Soya bean/seed (xxi) Soymeal (xxii) Turmeric (xxiii) Wheat
Value of taxable commodities transaction, commodities transaction tax, etc. To be Rounding off to the nearest rupee
Payment of commodities transaction tax
Through any authorised Bank accompanied by a commodities transaction tax challan
Return of taxable commodities transactions


Last date for filing of Form DP-1 online has been extended vide notification dated 20-06-2013
In Partial modification to Notification No.F.3 (352)/Policy/ VAT/2013/231-241 dated 28.05.2013 regarding submission of Form     DP-1, the last date for filing the form online has been extended as per the schedule as given below.
Class of Dealers Last date for submission of information online in Form DP-1 Dealers having GTO more than or equal to Rs. 50,00,000/- (Rupees Fifty Lakhs) 07/07/2013 Dealers having GTO more than or equal to Rs.25,00,000/- (Rupees Twenty Five Lakhs) but less than Rs.50,00,000/- (Rupees Fifty Lakhs) 14/07/2013 Dealers having GTO less than Rs. 25,00,000/- (Rupees Twenty Five Lakhs) 21/07/2013 The notification as released from the Trade and Taxes Department is attached herewith.


DVAT UPDATE : SECURITY ON REGISTRATION  DONE AWAY WITH, till further orders Notification No. F.7(453)/Policy/VAT/2012/298-308
Effective Date           01/07/2013 What is the effect ·(DVAT 04), Registration under DVAT ·Application shall mandatorily be  made ONLINE ·Via WWW.DVAT.GOV.IN Procedure 1.Fill application online 2.Submit hard copy of this application 3.With supporting documents When Within 3 working days of e-filing of the application Where In the concerned Ward Relief granted ·WEF        01/07/2013 ·No security required

Rates of exchange applicable for calculation of gross value of taxable service notified 59/2013-Cus.,(N.T.), Dated: June 06, 2013

Applicable from           June 07, 2013
Compliance of Section Section 67A of the Finance Act, 1994 read with explanation to Section 14 of the Customs Act, 1962 What to do? Rate of exchange for calculation of gross value of taxable service would be the rate, as determined by CBEC for the conversion of foreign currency into Indian currency or vice versa, applicable on the date on which taxable service has been provided or agreed to be provided. How? CBEC from time to time issues Notification to notify rate of exchange determined by it. Please find enclosed herewith the Notification No. 59/2013 dated June 06, 2013 containing the Rates of Exchange applicable from June 07, 2013. NOTIFICATION NO 59/2013-Cus.,(N.T.), Dated: June 06, 2013  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.54/2013-CUSTOMS (N.T.), dat…