Rupee hits a new low of 54.82 against Dollar   IPL Bangalore Team Player Luke Pomersback arrested by Delhi Police    Shahrukh Khan banned for 5 years from entering in Wankhede Stadium    CBI raids 15 MLAs in Jharkhand for taking bribe in Rajya Sabha elections   Rajya Sabha passes Finance Bill 2012    Petrol & Diesel prices to be hiked    Yeddy applies for bail after CBI raids on his residence   Income Tax Officer SK Saini sentenced to 3 years RI + fine of Rs 35 Lakh by CBI Court in Bhopal     IRS Officer Brahmananda Reddy arrested by CBI     Founder of Matrix Laboratories Nimmagadda Prasad also arrested by CBI   Tariff Value for import of Brass scrap is 4362 & for poppy seeds 3680-for gold 507 per 10 gram & for silver 920 per kg-Customs Non-Tariff Notification No.42      Customs duty exempted on import of 191 Products from Singapore-Customs Tariff Notification No.33    Import of 485 Products from Singapore exempted from Customs duty-Customs Tariff Notification No.34    Import of 496 Products from Singapore exempted from 50 per cent of applied rate of duty-Customs Tariff Notification No.35     Saurabh Chandra gets additional charge of Commerce Secretary    ITAT Member N Vasudevan transferred from Mumbai to Bangalore-J Sudhakar Reddy moves from Mumbai to Delhi-IP Bansal from Delhi to Mumbai-IC Sudhir from Pune to Delhi      CVD on imported electronics lowered due to higher rates of abatement from RSP notified-Abatement from MRP for excise payment on all electronic products prescribed at uniform rate of 35 per cent-Abatement revised for several products-Central Excise Non-Tariff Notification No.26     Suppliers to Mega Power Projects face silly excise demands-Click on the link below for full details    Excise demand of Rs 32 Crore confirmed against Exide for not paying excise on MRP basis on lead acid storage battery     RBI says Exporters required to convert 50 per cent of their foreign exchange holdings into Rupee within 15 days-Exporters will be allowed to buy foreign currency only after utilizing all their foreign currency holdings      Articles of jewellery exempted from excise duty-Specified Railway Goods manufactured by Government exempted from excise -Central Excise Tariff Notification No.23   Excise on specified Petroleum Oils lowered    Eye makeup preparations exempted from excise   The excise exemption hitherto admissible on all Hawai Chappals will now be admissible to only Hawai Chappals of RSP up to Rs 500-Polyester staple fibre or polyester filament yarn, manufactured from plastic scrap or plastic waste including waste polyethylene terephthalate bottles exempted from excise-Excise on Motor chassis for vehicles lowered to 14 per cent excise-Excise on LED Lights of Chapter 85 lowered to 6 per cent-Inks for ball point pens exempted from excise-Central Excise Tariff Notification No.24-Parts of Footwear and hawai chappals of RSP not exceeding Rs. 500 per pair exempted from excise if consumed in factory-Central Excise Tariff Notification No.25-Excise exemption to goods required for initial setting up of solar power generation project or facility-Central Excise Tariff Notification No.26     CENVAT Credit (Fifth Amendment) Rules, 2012-No reversal of credit required for supplies made for setting up of solar power generation projects or facilities-Central Excise Non-Tariff Notification No.25     exemption from wholeof the additional duty leviable shall not apply to Hand held Metal/Mine/Bomb detectors etc.-Customs Tariff Notification No.30    Import of specified goods allowed at concessional rate of duty-Customs Notification No.31       Lok Sabha passes Finance Bill 2012      FM defers the applicability of  GAAR provisions by one year- GAAR provisions will now apply to income of Financial Year 2013-14 and subsequent years-The retrospective clarificatory amendments now under consideration of Parliament will not be used to reopen any cases where assessment orders have already been finalized-long term capital gain arising from sale of unlisted securities in case of  non-resident investors, including PE investors lowered to 10 per cent-FM extends  benefit of tax exemption on long term capital gains to  sale of unlisted securities in IPO-lower rate of withholding tax of 5% for funding all businesses-FM withdraws  the provision for levy of TDS on transfer of immovable property-FM raises the threshold limit for TCS on cash purchases of jewellery to Rs.5 lakh-only serious offences under the customs law involving prohibited goods or duty evasion exceeding Rs.50 lakh, shall be cognizable- all these offences shall be bailable-changes in the definition of “service” which will exclude the activities specified in the Constitution as “deemed sale of goods”-The definition of “works contract” also  enlarged to include movable properties- Exemption for specified services relating to agriculture in the Negative List extended to agricultural produce enlarging the scope of the entry    Anti-dumping duty on imports of Partially Oriented Yarn, originating in, or exported from China-Customs Notification No.22        Customs duty on import of 806 Products from Japan lowered       Anti-dumping duty imposed on import of Phosphoric Acid of all grades and all concentrations (excluding Agriculture/FertilizerGrade) , falling under tariff item 28092010, originating in, or exported from,Israel and Taiwan-Customs Tariff Notification No.19     Customs duty on import of composite fertiliser lowered to 1 per cent-Customs Tariff Notification No. 24      
 
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MEGHALAYA VALUE ADDED TAX RULES, 2005

CHAPTER – I 

PRELIMINARY

SL.  NO

CONTENTS

RULES

   1.

Short title and commencement

1

   2.

Definition

2

CHAPTER – II

TAX AUTHORITIES AND APPELLATE TRIBUNAL

   3.

Tax authorities

3,4,5,6 and 7

   4.

Appellate Tribunal

8

CHAPTER – III

   5.

Levy of composition tax on registered dealer

9

   6.

Interval and manner of payment of composite tax

10

   7.

Books of Accounts to be maintained by the dealer for making payment of composite tax and filing of return

11

   8.

Works Contract

12

   9.

Requirement of maintenance of registers and books of accounts for availing Input Tax Credit

13

 10.

Credit of Input Tax within the tax period by the Commissioner

14

 11.

Manner of the reversing of Input Tax Credit

15

 12.

Condition for adjustment of Input Tax Credit in respect of goods return etc.

16

 13.

Stock brought forward during transition

17

CHAPTER – IV

 14.

Registration of dealers, amendment and cancellation of registration certificate

18

 15.

Grant of duplicate copy of registration certificate

19

 16.

Amendment of registration certificate

20

 17.

Information on the death of a dealer

21

 18.

Replacement of certificate of registration under the earlier sales tax law

22

 19.

Cancellation of registration certificate under sub-section (8) of Section 31

23

 20.

For the purpose of sub-section (1) and sub-section (8) of Section 31, the following conditions and restrictions shall apply

24

 21.

Security to be furnished

25

 22.

Imposition of penalty for failure by the dealer to get himself registered

26

 23.

Information to be furnished under Section 103

27

 24.

Manner of suspension of registration certificate under sub-section (10) of Section 31

28

 25.

Liability to obtain registration and to furnish information by transporter under Section 80

29

CHAPTER – V 

 26.

Manner of submission of periodical returns and payment of tax under Section 35

30

 27.

Payment of tax in advance under Section 35

31

 28.

Scrutiny of returns

32

 29.

Manner of completion of provisional assessment

33

 30.

Self assessment

34

 31.

Audit assessment

35

 32.

Best judgment assessment

36

 33.

Assessment of dealer who fails to get himself registered

37

 34.

Payment and recovery of tax, penalty and interest under Sections 35, 60 and 107

38

 35.

Special provisions relating to deduction of tax at source in certain cases

39

 36.

Information to be given to the Prescribed Authority in case of execution of contract under Section 106

40

 37.

Tax deduction certificate

41

 38.

Refund of excess payment of tax, penalty or interest

42

 39.

Manner of payment of interest by the Commissioner for delayed payment of refund.

43

 40.

Manner of making provisional refund to exporters who export out of the territory of India

44

CHAPTER – VI 

ACCOUNTS AND RECORDS

 41.

Maintenance of accounts and records

45

 42.

Tax Invoice

46

 43.

Retail Invoice

47

 44.

Credit and Debit Notes

48

 45.

Audit of Accounts

49

CHAPTER – VII 

INSPECTION OF ACCOUNTS AND DOCUMENTS AND SEARCH OF PREMISES AND ESTABLISHMENT OF CHECK-POST

 46.

Manner of releases of the books of accounts etc.

50

 47.

Fees payable for providing true copies of the seized documents etc.

51

 48.

Procedure for disposal of seized goods by open auction

52

 49.

Documents to be carried by owner or the person in charge of a goods vehicle to be produced at the Check-post for the purpose as provided under Sections 75,76 and 77

53

 50.

Particulars to be included in a trip-sheet or a log book of goods vehicle

54

 51.

Particulars to be furnished by a carrier or by a bailee

55

 52.

Transit Pass to be carried by goods vehicle passing through the State or to any place outside State

56

 53.

Form for obtaining permission for taking delivery of taxable goods consign through Rail, River, Air or Post from a place outside the State

57

 54.

Restrictions and conditions in respect of import of goods into the State by Rail, River, Air or Post or any other place

58

CHAPTER – VIII 

APPEAL AND REVISION

 55.

Manners of filing appeals

59

 56.

Manner and Form of filing appeals to the Appellate Tribunal for the purpose of Section 69

60

 57.

Payment of tax and penalty consequent upon rectification of orders

61

CHAPTER – IX 

OFFENCE AND PENALTIES

 58.

Conditions for causing investigation of offences under Section 95

62

 59.

Manner of assessment, re-assessment and imposition of Penalty

63

CHAPTER – X 

MISCELLANEOUS

 60.

Manner of declaration of dealer’s business manager

64

 61.

Power to write off demand under Section 97

65

 62.

Determination of disputed questions

66

 63.

Fees payable for appeal, revision, review and other miscellaneous applications or petitions as required for the purpose of Section 109

67

 64.

Liability in case of transfer of business

68

 65.

Liability of contractor or sub-contractor to tax

69

 66.

Collection of Tax only by dealers under Section 61

70

 67.

Display of signboard

71

 68.

Service of notice

72

 69.

Manner of issue of clearance certificate to a dealer or person under Section 115

73

 70.

Method of payment of dues under the Act

74

 71.

Conditions for dealers dealing in goods where tax is levied on purchase

75

 72.

Assessment of dealers dealing in goods other than Vatable goods under Section 6 and Section 47

76

CHAPTER – XI 

REPEAL AND SAVINGS

 73.

Statement of claim of Input Tax Credit in respect of goods purchased under Repealed Acts, held in stock on the appointed day

77

 74.

Manner of adjustment of Input Tax Credit in respect of stock brought forward during transition

78

 75.

Preservation of assessment records for the purpose of sub-section (8) of Section 84

79

 

  

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