Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« VAT (Value Added Tax) »
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS
 Cenvat Credit Rules, 2017 II Part
 Cenvat Credit Rules, 2017 – Part I
 How much do you know about VAT as a taxpayer?
 New tax structure not higher than VAT
 Cos will be reimbursed for exemptions that currently exist in the VAT regime
 GST will get states more than VAT
 Is it a modified Value Added Tax?
 GST regime: VAT Commissioner and CBEC to work with businesses
 Amendments in the Second Schedule appended to the Act (Delhi Value Added Tax Act, 2004)

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