the Appellate Tribunal was right in holding that the second reassessment proceedings were not validly initiated and thereby quashing the reassessment proceedings-the proceedings initiated by the AO for the second time under Section 147 is barred by limitation-even the proviso to Section 147 does not come into play on the facts of the case-AIT-2010-373-HC   Even if the goods belong to same entry, manufacture does take place if new identifiable/marketable goods known in market emerge due to operation conducted-the process of ironing applied to the stiched brassieres prior to their packing was a process incidental to the completion of the brassieres as a manufactured product-process of purification and filtration being incidental or ancillary to the manufacture of a marketable product, the Respondent was entitled to Modvat credit on the inputs involved-AIT-2010-370-HC   Larger Bench of CESTAT rules the Tribunal has ample power to condone the delay in filing the appeal including the one filed under section 35 E (4)-AIT-2010-372-CESTAT Corruption in IRS takes its toll-Deputy Commissioner of Income Tax Dhananjay Kumar arrested by CBI in Mumbai-Joint Commissioner of Customs & Excise Hemant Kothikar also arrested by CBI     FM directs expediting of Cadre Restructuring in CBDT & CBEC      Tariff Value for import of Brass Scrap is 3924-Customs Non-Tariff Notification No. 78    Chief Justice of Gauhati High Court Justice Ranjan Gogoi to be Chief Justice of Punjab & Haryana High Court    Anti-dumping duty on imports of Acrylic  Fibre originating in, or exported from Japan and Belarus-Customs Tariff Notification No.85  Prescribing SION for new product “Propylene” under Chemical & Allied Products Group-DGFT PN 7    Inclusion of Finished Leather in the Focus Product Scheme of FTP-DGFT PN 6    Exchange Rate for imported goods is Rs 47.25 per US Dollar and Rs 60.35  per EURO-Exchange Rate for export goods is Rs 46.30 per US Dollar and Rs 58.70 per EURO-Customs Non-Tariff Notification No. 77-Click on Exchange Rate for details   Anti Dumping Duty under the Notification No.15/2007 is not applicable to Spandex Yarn (Elastomeric yarn)-Customs Circular No.30    Import of goods under Notification No.13/2010 for Commonwealth Games, 2010-Customs Circular No.31    Larger Bench of CESTAT rules charges towards pre-delivery inspection and after-sale-service by dealers from buyers of the cars to be included in the assessable value of cars for payment of excise duty-AIT-2010-366-CESTAT    merely because there was non accounting of goods, penalty was technical and inference of clandestine removal was not called for-AIT-2010-365-HC  ITAT rules provision for doubtful debts and provision for standard debts are to be taken into consideration for computation of book profit u/s. 115JB of the IT Act-AIT-2010-361-ITAT    HC rules slitting of aluminum foils into customized width, mounting the same on the printing machine and thereafter printing the necessary text thereon is covered for 80IB benefit as it  falls within the ambit of the term “produce”-AIT-2010-363-HC    Definitive Anti-dumping duty imposed on imports of Coumarin, originating in, or exported from China-Customs Tariff Notification No. 82   Special Bench of ITAT Ruling-where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract-AIT-2010-355-ITAT-SB       
 
Services  |  Subscribe  |  Contact Us  |   Feedback   |  E-mail  |  News |  Home
JUDGMENTS
CENTRAL EXCISE
CUSTOMS
exchange rate
SERVICE TAX
INCOME TAX
VAT
FINANCE ACTS
FINANCE BILLS
EOU STPI
SEZ
DGFT
RBI
NTT
RESOURCES


    
Email | Print

KARNATKA VAT

 

Karnataka VAT RULES

Karnataka VAT ACT + SCHEDULE

Karnataka VAT FORMS

Karnataka VAT Ordinance

Karnataka VAT Amendment

Karnataka VAT Forms

Karnataka Assembly has passed VAT Amendment Bill, 2006 on 29th March 2006.

The Bill inserts a new schedule on Work Contracts. The Bill lists 23 work contracts that will be taxed under VAT.


Tax on work contracts like bottling, canning, packaging of goods, dyeing and printing of textiles, lamination, rubberisation, rewinding of electrical motors, supply and erection of electrical transmission towers, fixing of shahabad slabs and stone, tyre retreading will be lowered to four per cent.


Work contracts such as electroplating, erection of structural works, printing, programming of computer software, service and maintenance of IT products, sizing and dyeing of yarn, installation of pumpsets and renewable energy devices will continue to attract four per cent tax. Processing and supply of jewellery will continue to attract one per cent tax.


The VAT Bill proposes to exempt rice, paddy, wheat, pulses and flour, animal shoes and certain parts of animal-driven carts from tax.


The Bill proposes to reduce tax to four per cent on poha of maize, spent and cut dry chillies and dry chilly seeds, handmade soap, surgical gloves, all compact discs, cold tar, certain test and measuring equipment and certain goods of daily necessity sold by canteen stores department.


April 3, 2006. Karnataka Government has deleted several products including cell phones, multi-media speakers, and a wide-range of telecommunication equipment from list of IT products taxable at four per cent VAT rate.

Microphones, multi-media, speakers, headphones, telephone answering machines, walkie-talkie set, cordless handset, car telephone, marine radio communication equipment, amateur radio equipment, cellular telephone, radio pagers, demodulators, electrical capacitors, electrical resistors, switches, connectors, data, graphic display tubes, permanent magnets and articles and electrical apparatus for line telephony or line telephony  which were taxed at four per cent will attract a levy of 12.5%.

April 3, 2006.Karnataka Government has lowered VAT on certain goods, including plastic items, electrical devices and wrist watches, sold by the canteen department to defence forces from 12.5 to four per cent.
The following commodities will be charged four per cent VAT.


Toilet articles, tooth brush, sanitary napkins, toilet brushes and toilet paper, washing soap, powder and flakes, detergents, laundry whiteners, stain busters and stain removers; Tiffin boxes, thermos flasks, thermoware and casseroles; Electrical fans, iron boxes and immersion water heaters; Mosquito repellents including coils and electrical devices; Articles of plastic; Suitcases costing not more than Rs 2,000 per piece; suitcase covers, school bags; locks, Plastic moulded furniture; wrist watches costing not more than Rs.1,000 per piece; coffee powder including french coffee and instant coffee; instant mix, sambar and rasam powder.


with effect from 1st April 2006
 
  HOME ¦ Judgment ¦ Central Excise ¦ Customs  ¦ Service Tax ¦ Income Tax ¦ VAT ¦ Finance Act ¦ Finance Bills ¦ EOU STPI ¦ SEZ ¦ DGFT ¦ RBI ¦ NTT ¦ Resources

 

  

  Copyright © 2006 allindiantaxes.com | All rights reserved
website designing India & CMS development: Softlogics & Developments