DENOTIFICATION OF BANK OF BARODA FOR COLLECTION OF VAT/CST

 Notification No. 1207-1220

 Dated: 08-01-2014

Bank of India, which was earlier notified as Appropriate Government Treasury for the purpose of depositing VAT/CST dues in relation to a dealer who is, or liable to be, registered under DVAT Act, 2004, is hereby denotified for collections of VAT/CST dues from the dealers referred above with effect from 15th January, 2014.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

STING OPERATION

Circular No. : 1413 -1438

Dated: 08-01-2014

A sting operation was telecast on 6/01/2014 by news channel "Aaj Tak", wherein serious allegations about corrupt practices in the Department have been alleged by an agent.

In this regard, it is reiterated that giving and accepting of illegal gratification is a serious offence. It has always been the endeavour of the Government to stop and deal with such cases strictly.

All the officers/officials are hereby directed to maintain highest standards of integrity and refrain from indulging in any such practice. In case any officer/official is found indulging in such practice, stringent action will be taken against such officer/official.

The Delhi Sales Tax Bar Association is also requested to kindly bring specific case(s) of malpractices/demand of illegal gratification to our knowledge so that necessary corrective measures can be taken. Further, the Bar may advise its members to exercise due caution and ensure that the assistants accompanying the members do not engage or abet any such practice.

The Ward-in-charges may also bring the content of this circular to the knowledge of the staff working in their respective Branch/Ward for strict compliance.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

Public Notice

MEETING NOTICE REGARDING SPL. AUDIT

Dated: 08/01/2014

A meeting has been convened by the Special Commissioner, VAT, Special Audit, on10.01.2014 (Friday), at 3.00 pm, in the Conference Hall in 13th Floor of the Deptt., to discuss over the progress made by the CA/CA Firms, in respect of cases allotted for Special Audit u/s 58A of DVAT Act, 2004.

All the concerned are hereby requested to attend the same at the given time, date and venue.

The concerned CA/CA Firms are also requested to bring relevant information, with regard to progress made in respective case/cases, to discuss in the meeting.

No DA/TA is admissible for the same.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

Public Notice

Delhi VAT Dealers – Caution in Purchases against Tax Invoices

·         Buy goods from a trusted seller who files return and thereby pays due tax collected from you.

     ·        Mere 2B statement filing by selling dealer not sufficient – selling dealer          needs to back it up with return.

    ·         Some selling dealers disappear before last date of filing returns - Not             only would you lose input tax credit and pay the same with interest and         penalty but also face criminal prosecution for producing tax invoices from         such selling dealers.

 Strict Civil & Criminal action has started against defaulting selling and purchasing dealers who are benefitting from such bogus tax invoices.

The Department will in future, pending enquiry, place names of such dealers under category of doubtful dealers on its website.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

Filing of information in block R.10 of CST return Form 1

CIRCULAR NO. 31 OF 2013-14

 Dated :31/12/2013

1.   Block R.10 of CST return Form 1 pertains to filing of the information for receipt and pendency of central statutory forms/declarations in lieu of concessional sale/stock transfer for the preceding 4 years. The block has been inserted in the return through recent amendment in Central Sales Tax (Delhi) Rules, 2005. Second quarter return of the year 2013-14 was the first return to be filed after the amendment.

2.   On the request of Sales Tax Bar Association and dealers, the filing of the said block was de-linked from the return and a facility was created to file the information on pending statutory forms separately. The date of filing of the said block as well as return was also extended upto 31st December, 2013.

3.   Many dealers have availed of the facility and filed the above said information online. But, some dealers have still not been able to compile and file the information till date, although their returns have been otherwise submitted. Now, the third quarter return also becomes due from 1st January 2014, wherein the same information is to be filed upto date.

4. In view of the above, as a facility to the dealers who could not file the information in block R.10 of CST return Form 1, they are allowed to file the same as part of the third quarter return of the year 2013-14.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

AR – I Filing Date Extended

Notification No. 1188-1200

Dated :31/12/2013

Date of filing of Audit Report in Form AR-I for the year 2012-13 by dealers having turnover of Rs. 10 cr. or more in 2011-12 or 2012-13 has been extended from 10/01/2014 to 31/01/2014.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in

Clarification with regard to holding of shares or exercising power in a fiduciary capacity - Holding and Subsidiary relationship under Section 2(87) of the Companies Act, 2013.

General Circular No. 20 /2013

Dated: 27th December. 2013.

This Ministry has received a number of representations consequent upon notifying section 2(87) of the Companies Act, 2013 which defines "subsidiary company" or "subsidiary". The stakeholders have requested this Ministry to clarify whether shares held or power exercisable by a company in a 'fiduciary capacity' will be excluded while determining if a particular company is a subsidiary of another company. The stakeholders have further pointed out that in terms of section 4(3) of the Companies Act, 1956, such shares or powers were excluded from the purview of holding-subsidiary relationship.

The matter has been examined in the Ministry and it is hereby clarified that the shares held by a company or power exercisable by it in another company in a 'fiduciary capacity' shall not be counted for the purpose of determining the holding-subsidiary relationship in terms of the provision of section 2(87) of the Companies Act, 2013.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, Delhi-110001

Mobile:- 8130711885, 9873082769 

Website: www.caaga.co.in