Last edited by Dar
Friday, July 24, 2020 | History

4 edition of Law of central sales tax in India found in the catalog.

Law of central sales tax in India

India

Law of central sales tax in India

with 1988 central budget amendments and exhaustive commentary thereon

by India

  • 25 Want to read
  • 5 Currently reading

Published by Anand Prakashan in Jaipur .
Written in English

    Places:
  • India.
    • Subjects:
    • Sales tax -- Law and legislation -- India

    • Edition Notes

      Statementby Jai Kumar Jain and Anand Prakash Jain.
      ContributionsJain, Jai Kumar., Jain, Anand Prakash.
      Classifications
      LC ClassificationsLAW
      The Physical Object
      Paginationxii, 574 p. :
      Number of Pages574
      ID Numbers
      Open LibraryOL2165284M
      LC Control Number88902465

      FEATURES OF CENTRAL SALES TAX: The following are the features of central sales tax act, – The central sales tax act extends to the whole of India. 2. Levied by Central Govt The CST is leveied by the Central Govt. but it is collected by State where goods have been sold. 3. Income Tax Law And Practice. This book covers the following topics: Income Tax in India, Income Exempt from Income Tax, Income from Salaries, Income from House Property, Income from Business or Profession, Capital Gains, Income from Other Sources, Clubbing of Incomes, Deduction from Gross Total Income, Computation of Tax Liability of Individuals.

        You could look into getting a reseller’s permit, but to get a reseller’s license you first have to enroll with your state tax department, which involves getting a sales tax ID number. Combo 4 - Income Tax, Goods & Services Tax, Company & SEBI Laws, Indian Acts & Rules, Insolvency & Bankruptcy, Accounts & Audit, FEMA Banking & NBFC and Competition Laws Module Combo 5 - Income Tax, Transfer Pricing, International Taxation, FEMA .

        Central Sales Tax Act, The Central Sales Tax Act governs the taxation laws in the country, extending to the entire country and contains the rules and regulations related to sales tax. This Act allows the Central Government to collect sales tax on various products. The Central Sales Tax is payable in the state where the particular goods. Output Tax. It is the sales tax charged and levied on the sale or supply of goods or services on which sales tax is leviable. Scope of Sales Tax. Sales tax applies to the following: Goods. All goods are taxable except those that have been exempted under section 13 as mentioned under 6th Schedule of the Sales Tax Act,


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Law of central sales tax in India by India Download PDF EPUB FB2

Central Sales Tax,which imposes sales tax on goods sold in inter-state trade or commerce in Indisale of property situated within the state In the Union budget of India, an excise of duty of 1% without input tax credit and % with input tax credit was imposed on articles of jewellery with the exception of silver jewellery.

[18]. - In exercise of the powers conferred by sub-section (3) and (4) of section 13 of the Central Sales Tax Act, (Central Act 74 of ) the State Government hereby makes the following rules namely: Short title and commencement.- (1) These rules may be called the Central Sales Tax (Rajasthan) Rules   - Buy Central Sales Tax Law & Practice book online at best prices in India on Read Central Sales Tax Law & Practice book reviews & author details and more at Free delivery on qualified : V.S.

Datey. Central Sales Tax Act, The taxation laws, rules/ regulations of the sales tax are contained in Central Sales Tax Act which governs taxation of sales in India. According to this act, the central government can collect sales tax which has been paid in the state since the sale has been made in.

Income Tax Law and Accounts (60th Edition A.Y. ) for Classes of Various Universities Dr. H.C. Mehrotra, Dr. S.P. Goyal Paperback ₹ ₹ 00 ₹ ₹/5.

the tax can collect the tax from someone else and then pay it to the government; thus shifting the tax burden. The GST tax falls in this category. The current indirect tax structure, which comprises of so many different taxes, can be classified as: Central taxes: levied by the Central govt (includes Central Sales Tax, Excise Duty etc.).

The Central Sales Tax Act was amended in by the Taxation Laws (Amendment) Act which came into effect on April 1, The fundamental purpose of the amendment was to reduce the sales tax for inter-State transaction from four percent to three percent.

In respect of Services, only the Centre had the power to levy and collect Service Tax. Hence, Central Excise, Customs and Service Tax were the three main components of indirect taxes for the Central Government. While VAT and Central Sales Tax (CST) were the major taxes for the State Governments along with Octroi, Entertainment Tax etc.

Ncome Tax Law and Practice forward Central Government chargeable charged claim Computation consideration contribution cost of acquisition deduction deduction is allowed deemed deposit depreciation determined dividend employee Example exempt expenditure expenses Explain fees firm foreign furnished gain gross head house property income tax 4/5(3).

Trading addition Estimation of income bogus purchases Non rejection of books of accounts HELD THAT On the credit side of the trading account, sales and closing stock are verifiable and the o Tax Management India.

Com Law and Practice: A Digital eBook Case Laws Acts. collected except by the authority of law”. Therefore, no tax can be levied or collected in India, unless it is explicitly and clearly authorised by way of legislation. The Income-tax Act, (ITA) was enacted to provide for levy and collection of tax on income earned by a person.

The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Central and the State. An important restriction on this power is Article of the Constitution which states that No tax shall be levied or collected except by the authority of law.

Instavat offers updated, collated, comprehensive and comparative statutory information about Service Tax, Sales Tax, VAT, CST, Entry Tax, and Profession Tax, keeping you updated with the ever-evolving indirect tax regime across India, in real time on DVD, Email alerts, Online Utility and INSTA E-Book.

Value Added Tax, Central Sales Tax, Service. Different states have different sales tax laws for their states. What is Sales Tax. Sales tax is a form of indirect tax imposed on the sale and purchase of goods within India. The seller of the goods can recover sales tax from the purchaser.

It is levied by the Government. Sales tax is charged at both the levels of Legislation, Central and State. Most states’ sales tax laws say that this creates sales tax nexus. You can find links to each state’s sales tax nexus laws here. It helps to think of it from the state’s perspective.

From their point of view, any online seller who uses resources in their state (roads for delivery, public safety should an emergency occur, etc.) has nexus.

Revision u s bogus purchases HELD THAT This is not the case of bogus purchases pursuant to the suppliers name being reflected as tainted dealer in the Sales Tax. The primary objective behind development of GST is to subsume all sorts of indirect taxes in India like Central Excise Tax, VAT/Sales Tax, Service tax, etc.

and implement one taxation system in India. The government launched the Central Sales Tax Act to simplify and for organizing tax collection in India. Some of the main objectives of Central Sales Tax Act are mentioned below: Provide a smooth system for levying, collecting and distributing all the taxes accumulated through an interstate sale of goods and products.

CST being an origin based tax, is inconsistent with Value Added Tax which is a destination based tax with inherent input tax credit refund. An amendment to the Central Sales Tax Act to provide for reduction of the rate of Central Sales Tax for inter-State sales between registered dealers from 4% to 3% w.e.f.

1st April, was effected in. Vikas Mundra: Tax Laws and Practices; Law Point publications, 6C R.N. Mukherjee Road, Kolkata- (edition based on provisions applicable for AY ) REFERENCES 1.

Bare Act: Income Tax Act, & Income Tax Rules, 2. Sampath Iyengars: Law of Income Tax, 11th Edition; Bharat Law House Pvt. Ltd., T-1/. India, is a union of states and the strength of our country lies in its ability to handle these states collectively, which is where Central Sales Tax comes into play, by eliminating any confusion regarding inter-trade tax.

Central Sales Tax came into existence through an act of the parliament and was enacted in the year to regulate sale of. Income Tax Laws text book pdf: Download Income Tax Laws text book pdf for 3rd year students. This book is useful for CA, IPCC group 1 students and for B.A LLB 3rd year students.

This book deals with the Law of taxation or Income tax laws. Income Tax refers to the tax you pay [ ].India Code Link to Central Sales Tax Act, CHAPTER I PRELIMINARY 1. Short title, extent and commencement. 2. Definitions. CHAPTER II FORMULATION OF PRINCIPLES FOR DETERMINING WHEN A SALE OR PURCHASE OF GOODS TAKES PLACE IN THE COURSE OF INTER-STATE TRADE OR COMMERCE OR OUTSIDE A STATE OR IN THE COURSE OF IMPORT OR EXPORT.