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: empanelment :: VAT Audit :: list of goods taxed at 4% :: VAT RATES :: TDS :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd
« VAT (Value Added Tax) »
  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: Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds
  Note ban got Maharashtra govt an extra ?125cr from fuel VAT
 Note ban got Maharashtra govt an extra ?125cr from fuel VAT
 Higher tax mop up reflects no slowdown post demonetisation, says Arun Jaitley
 Traders transition from VAT to GST
 FM Arun Jaitley defends note ban with jump in tax numbers

Chesham Consultancy LLP News
June, 03rd 2008

HMRC have announced a number of proposed changes to how they will carry out compliance checks on all taxes and an alignment (and for VAT an increase from 3 to 4 years) of time limits for assessments and claims.  In addition they have announced some proposed changes to the tribunal system.

However, the main VAT specific announcements are:  

    From 1 October 2008, an extension to the VAT exemption for fund management supplies.  Legislation is due to be laid before parliament in June so we await the details but it is clear that the intention is to extend VAT exemption to the management of closed end investment schemes and overseas funds.

    From 1 July, the voluntary disclosure limit is to be raised to the greater of 10,000 or 1% of turnover (subject to an upper limit of 50,000).  This will also apply to IPT, Landfill Tax and Air Passenger Duty.

    A transitional period has now been announced for pre 1996/1997 unclaimed input tax or overpaid output claims following HMRCs defeat in the Fleming and Conde Nast cases.  The transitional period in which to make claims will run for another year to 31 March 2009.

    From 1 June 2008, the option to tax provisions will be simplified.  A treasury Order will be laid shortly, detailing the revisions to Schedule 10 of the VAT Act.

    The staff hire concession, whereby employment businesses supplying temporary staff only account for VAT on their margin will be withdrawn from 1 April 2009.  This will affect suppliers of temporary staff and partly exempt customers, such as banks and insurance companies.

    As usual the registration and deregistration thresholds will be increased.  From 1 April 2008, the registration threshold will increase to 67,000 (from 64,000) and the deregistration threshold to 65,000 (from 62,000).

    From 1 May 2008, there will be changes to the Fuel Scale charges these are detailed in Budget Notice 76.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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