« From the Courts » Open DEMAT Account in 24 hrs  Karnataka High Court restrains Bengaluru-based Institute of Chartered Tax Practitioners India from enrolling candidates for its courses  Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate  Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court  Inordinate delay in income tax appeal hearings  Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT  Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.  ITAT refuses to stay tax demand on former owner of Raw Pressery brand  Bombay HC sets aside rejection of refund claims by GST authorities  [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court  Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger  Sebi-taxman fight over service tax dues reaches Supreme Court «  VAT book by Shri Ashok Batra releasing shortly... Change in Tax Deduction at Source Rates... » Amendment made in the CST Act by Taxation Laws (Amendment) Act, 2007 April, 06th 2007 Amendment has been made in the CST Act the details of which are as under:-   A Bill namely, the Taxation Laws (Amendment) Act, 2007 (Bill No. 13/C of 2007) had been introduced in Lok Sabha in order to further amend the Central Sales Tax Act, 1956 and the Additional Duties of Excise (Goods of Special Importance) Act, 1957. The Bill has since been passed by both houses of the Parliament. The Union Government has, by a Gazette Notification dated the 29th March 2007 brought the amendment Act into force. The amendments come into effect from the 1st April 2007 . The salient features of the amendment Act are as follows:   The Amendment Act seeks to amend sub-section (1) and (2) of section 8 and sub-section (4) of Section 8. Consequential amendments are made to Sections 6, 7,9,10 and 10A of the CST Act. Apart from these amendments, Section 14 has been amended in order to omit tobacco and tobacco products from the purview of declared goods. The Amendment Act omits section 4 and the second schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957 and amends the first schedule.   2. The net effect of the amendments is as follows:- a) The rate of CST on inter-State sale to registered dealers (against Form-C) shall stand reduced from 4% to 3% or the rate of VAT applicable in the State of the selling dealer, whichever is lower. b) The rate of CST on inter-State sale other than sale to registered dealers shall be the rate of VAT applicable in the State of the selling dealer. c) The rate of CST on inter-State sale to Government Departments shall also be the rate of VAT applicable in the State of the selling dealer, indicated at (b) above. The facility of inter-State purchases by Government Departments against Form-D stands withdrawn. d) Enabling provisions have been made for the States to levy VAT on Tobacco. Tobacco has been dropped from the First Schedule of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 as also from the list of declared goods, to enable the States to levy VAT on Tobacco, at rate higher than 4%.