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VAT - Highlights / Catch Notes

Home Highlights January 2014 Year 2014 This

Period of liability - UPTT - assessing authority in fact, had ...

VAT and Sales Tax

January 16, 2014

Period of liability - UPTT - assessing authority in fact, had passed an order granting remission of the tax since the assessee had not collected tax from its customers - decided against the revenue - SC

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  1. Remission of deferred sales tax liability - deferred sales tax liability will not be chargeable to tax as business income of the assessee - AT

  2. Addition u/s 41 - remission or cessation of liability - when the software library was capitalized, it cannot be said that any benefit or remission or cessation of...

  3. Relief of remission of tax - In case State's action is allowed to stand, it would mean that an honest tax payer would be discriminated since those who have not paid tax...

  4. Remission of duty - Lost goods - When the importer made a request to the department claiming remission, the authorities did not dispute the transactions - remission allowed - HC

  5. Addition u/s 41(1) - it is undisputed fact that the remission of liability would be only of the amount payable and not of the amounts paid by the assessee. These amounts...

  6. Remission of duty - After destruction, Revenue issued SCN that remission was granted erroneously - The goods consequently were not available for removal from the factory...

  7. Income tax liability of employees - Remission of income tax liability borne on behalf of the employees - it is also possible that earlier years the assessee has not...

  8. Validity of refund order - Failure to get Certificate of Export in time - the revisional authority passed an order assessing the tax liability of the appellant/writ...

  9. Remission of Loan Liability - sales tax payable by appellant was converted into loan - the same has been held to be a capital receipt - not taxable - AT

  10. Cessation of liability u/s 41(1) - As per the explanation, the remission or cessation of any liability by a unilateral Act, is covered u/s.41(1) - additions confirmed - AT

 

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