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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: empanelment :: cpt :: VAT Audit :: ACCOUNTING STANDARDS
 
 
« 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

UT fails to recover Rs 4 lakh VAT from PGI
May, 11th 2011

The administration has suffered a dent of Rs 4 lakh in its coffers due to failure of recovery of Value Added Tax (VAT) from PGI. The deficiency was pointed out by audit report, stating that the institute has not paid the required tax on its two major turnkey projects. The pending amount is to be paid by PGI.

The report recorded that it had outsourced its two projects on turnkey basis to a private company and a total amount of Rs 4 lakh was the VAT for the project.

The project included Gamma knife and Nuclear medicine. Gamma knife had a total cost of Rs 48 lakh and the nuclear medicine project was for Rs 1 crore, 57 lakh. The VAT for nuclear medicine amounted to Rs 3.25 lakh, which was not deducted and handed over to UT.

The audit report mentioned that no reply has been furnished by officials for the recovery of VAT. Official spokesperson PGI said, ''Once we get complete information on this, only then something can be done.'' VAT was to be charged for any purchase exceeding Rs 5 lakh.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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