Tag Archives: VAT

Mr.Sudarshana is a Partner of Top Class Services, a service provider in photocopier, scanners, etc. They take up Annual Maintenance Contract (AMC) of photocopier machines. While providing the service (AMC), apart from their labour, they also change or replace parts. They want to know the applicability of VAT and Service …

One of our clients, M/s Cement Enterprises, Bangalore, traders in Cement, has raised this query. They are buying cement at the rate of Rs.400/- per bag. They sell them for Rs.350/-.The loss in the sale, i.e., Rs.50 per bag is made good (reimbursed) by the manufacturer as ‘bulk discount’. Now …

VAT (Value Added Tax) is a multipoint tax levied on every sale of goods in the State by a dealer. VAT is collected by the dealer and the same is remitted to the Government. So, those entities who sell goods in the State of Karnataka have to register with Commercial …

  Larger companies may have the financial strength to withstand unexpected Tax Shocks. With my experience of dealing with Small and Medium Enterprises (SME) over the last 2 decades, I can confidently say that these companies will have sudden death in situations like the Nokia VAT issue (Read Supreme Court …

  Some of the cases are worth reading. The Court’s view may not be the same as that of common men. One such case is discussed in this article.   When you buy a mobile phone, will you ever think that the battery charger is something independent of the phone? …

Karnataka Commercial tax department has issued Notification No. CCW/CR44/2013-14 dated 29-04-2014 with regard to furnishing of details in respect of purchases, sales, and stock transfer electronically Electronic upload [E-Upass] implies submission of Purchases and Sales statements online at the department’s portal. How it helps the trader community? It will minimize disputes …

  Karnataka Value Added Tax (VAT) is a levy of tax on the purchase or sale of goods in the State of Karnataka. So, those dealers who are buying or selling goods have to get registered under the provisions of K VAT Act.   Whether every dealer has to get …