29/04/2016

Lesson 68 - How to create a Invoice with multiple Tax category

How to create a Invoice with multiple Tax category


Recently a viewer send a mail for configure multiple tax calculation in a single invoice. 


The Question was "How do I write an invoice that has a service and stock item for a customer in Tally?"
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22/04/2016

Changes in CENVAT Credit Rules, 2004

To simplify the provisions related to availment of CENVAT Credit in respect of service tax paid on acquiring right to use of natural resources Central Government has made changes in Rule 4(7) of CENVAT Credit Rules, 2004 vide Notification No. 24/2016-CE (N.T), dated 13th April, 2016. In addition, change has been made in Rule 6 of CENVAT Credit Rules, 2004.
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11/04/2016

Lesson 67 - How to create difference in Billed & Actual Quantity

HOW TO CREATE DIFFERENCE IN ACTUAL AND BILLED QUANTITY IN TALLY.ERP9

It is used maintain all those transactions which are related with free item such as ‘buy one get one free’.
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07/04/2016

How to File Form 15G / Form 15H Online?

Recently, Income Tax Department change the procedure to file Form 15G/ H. Now all the Forms 15G / H will file online instead of manually. 

Notification No. 76/2015 published in this regard by CBDT on 29th September 2015 with new format of Form 15G/ H.
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01/04/2016

Service Tax Amendments vide Finance Bill, 2016 applicable w. e. f. 1st April. 2016

The Finance Bill, 2016 which was brought into by the Union Budget, 2016-17 come out with no. of amendments applicable from varied dates. Changes which were effective from the 1st day of April, stands imbibed are lested as follows:-
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21/03/2016

New options for saving capital gains tax

Until now , investors had only a few options to claim tax exemption on their capital gains. They could invest in bonds of National Highways Authority of India or Rural Electrification Corporation or they could buy a residential property. The Budget has given investors two more options. Individuals will now be able to save tax on capital gains by investing in start-ups directly or indirectly. However, these options carry much higher level of risk and investors should look at them if they have the requisite risk appetite.
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18/03/2016

DELHI VAT - (Circular No. 41) Sealing and De-Sealing of Premises

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI
DEPARTMENT OF TRADE AND TAXES
(POLICY BRANCH)
VYAPAR BHAWAN, I.P. ESTATE,
NEW DELHI-110002

Circular No. 41 of 2015-16
Dated: 16th March 2016

SUBJECT: SEALING AND DE-SEALING OF THE PREMISES.

Section 60 of the Delhi Value Added Tax Act, 2004 empowers the Commissioner to enter premises and seize records and goods of any person during surveys. The surveys are to be conducted on the premises of a dealer to detect tax evasion. The survey teams are headed by an officer of the level of Assistant Commissioner/VATO and comprises of AVATOs & VATIs. The size of the team depends upon the number of premises and size of the dealer to be surveyed.


2. The survey team can seize incriminating documents and any other unaccounted papers found during search. A proper acknowledgement of the seized goods and papers is to be given to the dealer after the survey. If the dealer refuses to cooperate or obstructs the team, then the premises can be sealed for such activities. The business activities of the dealer come to stand still after sealing of the premises. The sealed property can be de-sealed after satisfying the provisions of sub-section (4) of section 60 and rule 23 of Delhi Value Added Tax Rules, 2005.


3. Sometimes, it happens that the survey team may not be able to complete the task due to inadequate staff even after normal business hours. After assessing the situation, the team can abandon the search operation in consultation with his supervisory officer to resume the same next day. The premises should be locked and a seal/mark may also be affixed a security measure. Posting of a security guard can also be considered if need so arises. The survey can be resumed next day from the stage it was left on previous day. In this way, business of the dealer remains affected.


4. This issues with the prior approval of the Commissioner, VAT


(R.K. Mishra)
Spl. Commissioner (Policy)

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