CBEC : Every Wednesday is Taxpayers day!

ICAI Indirect Tax Committee : CBEC vide Letter F. No. DGST/19/2015 dated 12.04.2016 to ICAI  has informed that every Wednesday would be taxpayers day wherein heads of all offices in the field will meet the taxpayers/ other stakeholders from 9 AM to 1 PM without any prior appointment in order to address their grievances relating to Central Excise, Service Tax, Customs etc. This step is undertaken by the government in order to live up to its idea of responsive governance and trade facilitation which would ensure ease of doing business for the taxpayers/ other stakeholders.
We request to make full use of this opportunity for one to one interaction with the CBEC officials and resolve your grievances real-time. This is indeed a welcome step by the government which lays its emphasis on taxpayer friendly tax-administration.

Highlights of Maharashtra State Budget 2016

CHANGES RELATING TO VAT:

Tax payers need not visit the sales tax office to obtain registration. He shall upload all documents relating to online registration. If any discrepancy is noticed in the uploaded documents, the application shall be rejected without hearing. But, an opportunity
to comply within the stipulated period is being proposed.
If compliance is made within the said period, then the registration shall be granted from the date of the original application. However, if compliance is not made within
the stipulated period, then the application shall be rejected. Provision is also being made to cancel theregistration if false documents are furnished.

• It is proposed that if a dealer finds any mistake in the returns filed by him, then the revised returns can be filed up to the due date for filing audit report under the VAT Act and dealer may also file such revised returns multiple times.

MVAT Registration online process change in documents

As per Trade Circular 05.02.2016 4T of 2016 changes have been notified to Trade Circular No. 7T of 2015  dated 19.05.2015.
The changes are relating to List of Documents which need to be uploaded for the online registration of MVAT. The tedious MOA and AOA uploading has been done away with. Also, additional address proofs for Permanent Address have been introduced such as 
BSNL/MTNL Landline Bill
Saving Account Front Page of Nationalised Bank
Domestic Gas connection Bill.
Also, separate requirement have been introduced for online portal sellers who now have to submit a copy of agreement between the Aggregator/online portal.
The copy of Circular is as follows:

GST Draft Law at a glance. Gearing up for GST implementation

GEARING UP FOR GOODS AND SERVICES TAX-Vol I

(DRAFT LAW- AT A GLANCE)

The article (Vol I) broadly covers the various specific provisions related to working and operation of Goods and Services Tax vis-à-vis the statutory requirements of Model Draft law released by Govt w.r.t. concept of Taxable event under GST i.e. Supply of goods and services.

The article also brings out the clarity on the various issues addressed in the reports of registration and refund released by the Govt.

As a part of Vol II, other provisions and pending reports will be summarised and issues will be addressed as contemplated in the reports of payment and return issued by Govt.)

                                           IMPACT AND IMPLICATIONS”

 
 CMA Rakesh Bhalla
CA Rubneet Kaur

 


Goods and Service Tax-A dual tax system, proposed in the report submitted by the Joint Working Group of the Empowered Committee of the State Finance Ministers in November 2007, was to be implemented in April 2010,one for the Centre and other for the states replacing the state VAT and Cenvat. However the final decision on the time of its implementation is still pending as it is hanging between the ruling and opposition party due to certain undecided terms and conditions.

GST is a value added tax to be levied on both goods and services, except the exempted goods and services. The tax will be levied on the value of the product or service supplied. The taxes levied at the multiple stages such as CENVAT, Central sales tax, State Sales Tax, Octroi etc will be replaced by GST to be introduced at Central and State level.

Why GST- How GST will be better than existing tax structure