Service Tax : Due to some maintenance activity, ACES
application will not be available for use from 20:00 hrs of 3rd May,2013 to 09:00 hrs of 5th May ,2013.
Friday, 3 May 2013
CLARIFICATION
ON AMENDMENT TO SECTION 206-C OF INCOME TAX ACT ON SALE OF BULLION OR JEWELLERY
IN CASH
Press Release
Date: 1/05/2013
Currently, sale in cash of bullion (excluding coin or any other
article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in
excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins
were neither included in bullion nor in jewellery, therefore, coins, even when
amounting to more than Rs. 2 lakh in value, were being sold in cash without
TCS.
The Finance Bill, 2013
proposes to delete exclusion of coins/articles weighing 10 grams or less
from bullion. Hence, the sale of bullion (including coins/articles) in cash in excess
of Rs 2 lakh shall be subject to TCS @1%. Similarly, sale of jewellery in cash
in excess of Rs 5 lakh shall be subject to TCS @1%.
It is not a new levy of tax but continuation of old levy except
withdrawal of exemption in the case of coins/articles weighing 10 grams or
less.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
Thursday, 2 May 2013
DVAT-
EXTENTION OF TIME FOR FURNISHING OF RECONCILIATION RETURN IN FORM DVAT - 51
Notification
No: No.F.3(33)/P-II/ VAT/
Misc./2006/54–64
Dated:
10-4-2013
In continuation of order
No.F.3(33)/P-II/VAT/Misc./2006/1383-1393 dated 14/03/2013, department has extend
the time limit prescribed in:-
(a) Rule 67 (1) of the Delhi Value Added Tax Rules, 2005 and
Rule 4 of the Central Sales Tax(Delhi) Rules, 2005 for furnishing of
reconciliation return in Form DVAT-51; and,
(b) Rule 5 (5), Rule 6(3)(a), Rule 7(5)(a), Rule 9(2), Rule 68,
and Rule 6A (2) of the Central Sales tax (Delhi) Rules, 2005 and rule 12(10) of
the Central Sales tax (Registration and Turnover) Rules 1957, for furnishing of
the portion marked 'original' of the Declaration Forms 'C', 'E-I' or 'E-II',
'F', 'I', 'J', and 'H' respectively, as per the following time schedule for the
year 2011-12:-
Tax period
|
Time limit
Extended up to
|
Ist Quarter, IInd
Quarter, IIIrd Quarter and IVth Quarter
|
10th May, 2013
|
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
DVAT – AMENDMENTS
IN SIX SCHEDULE
Notification
No: F. 5(54)/Policy-II/VAT/
2012-13/28-39
Dated:
03.04.2013
AMENDMENTS
In the Sixth Schedule of the Delhi Value Added Tax Act, 2004
(Delhi Act 03 of 2005), in the entry at Sl. No. 1 in Part-A, a new sub-entry
after serial No. 20 shall be inserted, namely:-
“(20-A) REPUBLIC OF CONGO, New Delhi
for exemption/refund of VAT in favour of official purchases of its Embassy and
personal purchases of its diplomats”
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
DVAT–ARRANGEMENT FOR RECEIPT AND MOVEMENT OF QUARTERLY RETURNS
FOR QUARTER ENDING 31-3-2013
Dated: 30/04/2013
CIRCULAR
In consonance with the circular no. 3 of 2013-14following arrangement
have been made to facilitate the filing of quarterly return for the quarter ending
31-3-2013.
Class/category of quarterly dealers (as per net tax paid during
the year 2011-12)
|
Last date of filing of online returns
|
Last date of filing hard copy of return
|
Paid net tax more than Rs.1,00,000/-
|
06.05.2013
|
10.05.2013
|
Paid net tax between Rs.50,000/- to 1,00,000/-
|
10.05.2013
|
15.05.2013
|
Paid net tax less than Rs.50,000/-
|
15.05.2013
|
18 & 20.05.2013
|
The hard copy of quarterly return (Refund as well as Non Refund)
filed on line will be accepted at the especially set up Front office extension
counters on respective floors on 10-5-2013,15-5-2013, 18 & 20-5-2013.
The timing shall be 10.30AM to 5.00 PM with the half an hour
lunch break from 1.30PM to 2.00PM.
The staff arrangements for acceptance of quarterly return floor wise are to be made by respective Zonal in charges.
Date and numbering stamps for floor wise receipt will be issued to wards-in-charges by Front office in the afternoon of 9-5-2013, 14-5-2013 & 17-5-2013. These stamps will be returned back to the front office by closing hours of 10-5-2013, 15-5-2013 & 20-5-2013 without fail.
No manual return which has not been filed on-line shall be accepted.
The staff arrangements for acceptance of quarterly return floor wise are to be made by respective Zonal in charges.
Date and numbering stamps for floor wise receipt will be issued to wards-in-charges by Front office in the afternoon of 9-5-2013, 14-5-2013 & 17-5-2013. These stamps will be returned back to the front office by closing hours of 10-5-2013, 15-5-2013 & 20-5-2013 without fail.
No manual return which has not been filed on-line shall be accepted.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
EXTENSION OF TIME UPTO 30TH SEPTEMBER 2013, FOR USING RE-CREDITED 4%
CVD (SAD) AMOUNT IN DEPB-REGARDING
Circular
No:- 18 /2013-Customs
Dated:-
29/04/2013.
Circular
No.27/2010-Customs, dated 13.08.2010, regarding procedure on refund of 4%
Special Additional Duty (SAD) provides the facility of manual filing of Bill of
Entry for utilizing the amount of re-credited 4% SAD refunds for payment of
duty in case of re-credited DEPB/ Reward Scheme scrips upto 31-03-2012.
Circular
No. 10/2012-Customs dated 29.03.2012 further extended the time upto 30.06.2012
utilizing the amount of re-credited 4% SAD refunds for payment of duty in case
of re-credited DEPB/ Reward Scheme scrips.
References
have been received from trade in the Board that importers have not been able to
utilize the re-credited amount of 4% SAD and it has been decided to extend time
limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4% SAD
upto 30.09.2013.
Board
also directs all Chief Commissioner of Customs to ensure that all pending application
for refund of 4% SAD paid through DEPB/reward scrips are disposed of by 30-06-2013.
The Chief Commissioner may constitute a special team to liquidate these refund
claims. The report in this regard should be sent to Board by 04-07-2013.
Board
also reiterates Para 8 of Board’s Circular No. 27/2010-Customs, dated 13-08-2010
that in future exporters should pay SAD component in cash if they want a
refund.
It
is emphasized that this is the final
extension of time limit for reusing re-credited DEPB Scrips/Reward Scheme
Scrips.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
Wednesday, 1 May 2013
DUE DATE FOR FILING DVAT 52
Circular No. 2 0f 2013-14
Date: 15/04/2013
The Government under Delhi Value Added Tax Act, 2004 making it mandatory for every dealer to file Permanent Account Number (PAN) and Importer Exporter Code (IEC) in case dealer is engaged in import/ export business in the prescribed form, within two months of notification of amendment.
However, the amended Form DVAT 52 could only be notified on 30/3/2013 vide Notification No. F.3 (15)/Fin. (Rev 1)/ 2012-13/dsVI//264.
Accordingly all registered dealers shall now file Form DVAT 52 with requisite details pertaining to PAN and IEC, as the case may be, on or before 30/05/2013.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
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