Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: Central Excise rule to resale the machines to a new company :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Notice to nine miners for non-payment of VAT dues
December, 27th 2013

Commercial tax office of Barbil range has sent notice to nine mine owners for non-payment of VAT dues linked to mineral raising contractors’ fees.

The defaulted miners include big names like K J S Ahluwalia, Sirajuddin and Indrani Patnaik.

As per sub-section 1 of section 54 of Odisha Value Added Tax (Ovat) Act, any person responsible for making payment to any contractor for carrying out any work contract, which involves transfer of property in goods between the contractor and contractee, will at the time of payment deduct an amount towards tax equal to 4 per cent of total amount, in case the value of works contract exceeds Rs 50,000.

The tax office found at least nine miners, who have not paid any dues since April 2011.

“It appears that you have been carrying out works through contractors and making payments to them. But you, being the deducting authority have not been deducting any TDS from the bills of contractors. You are required to produce all documents relating to works contract from April 2011 to till date,” said a notice sent to the miners from commercial tax office of Barbil range.

Many miners engage contractors to raise minerals, primarily iron ore, manganese and chrome. The contractors charge somewhere between Rs 80 and Rs 100 for each tonne of iron ore extracted. Odisha produces around 60 million tonne iron ore every year.

Most of the miners contacted by Business Standard said they were unaware of the notice, and showed ignorance of such provision of Odisha VAT Rule. The other companies who have been sent the notice for payment of the dues include Kalinga Mining Corporation, M G Mohanty, S N Mohanty, Penguine Trading and National Enterprise.

Considering the output of KJS Ahluwalia, which produces about 10 million tonne iron ore per year, it owes the state government about Rs 100 crore towards taxes on payments made to raising contractors, said a mining expert of the state.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions