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 :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: list of goods taxed at 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: VAT RATES
 
 
« Latest Circulars »
 RBI launches the March 2017 Round of Consumer Confidence Survey (CCS)
 Sovereign Gold Bonds, 2016-17 – Series IV - Operational Guidelines
 Sovereign Gold Bond Scheme 2016 -17 - Series IV - Issue Price
 Master Direction – Money Transfer Service Scheme (MTSS)
 Payment Systems - Next Orbit (Shri R. Gandhi, Deputy Governor - February 20, 2017 - at the launch of Bharat QR Code at Hotel Trident, Mumbai)
 Financing MSMEs: Banks & FinTechs – Competition, Collaboration or Competitive Collaboration? (Shri S. S. Mundra, Deputy Governor – February 20, 2017 – at the NAMCABS Seminar organized by College of Agricultural Banking in Mumbai)
 Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
 RBI-Formation of twenty one new districts in the State of Telangana - Assignment of Lead Bank Responsibility
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions

Circular No 01 of 2012-13, Clarification regarding preserving of DVAT 43 by the contractors
June, 13th 2012
                                       GOVERNMENT OF NCT OF DELHI
                               DEPARTMENT OF TRADE AND TAXES, (POLICY BRANCH)
                                 VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI~110002

                   No.F.7( 436)jPolicyjVATj2012j   (;.4..-7   0                Dated:    




                                           CIRCULAR NOJ.OF 2012-13



                   Subject:- Clarification regarding preserving of DVAT 43 by the contractors



                        Sub rule (2) of rule 59 of DVAT Rules, 2005 stipulates that a person
                   who has deducted tax under sub section (1) of section 36 A of DVAT Act,
                   2004 shall issue a certificate of deduction of tax in form DVAT-43. Such
                   certificate shall be issued in triplicate. The first copy shall be furnished by the
                   contractee to the contractor, second copy shall be attached along with the
                   T.D.S. return as prescribed in sub rule (4) of this rule and the third copy shall
                   be retained by the contractee for his records.

                          Sub section (7) of section 36A of DVAT Act, 2004 stipulates that a
                   dealer claiming adjustment in his tax return of the amount deducted under
                   this section shall preserve the Certificate issued to him for a period of seven
                   years and shall produce the same to the Commissioner on demand.

                         However, as per clause (iv) of sub rule (1) of rule 27 and sub rule (3) of



                rule 28 read with forms DVAT- 16 and DVAT- 17, a dealer claiming
                   adjustment in his tax return of the amount of tax deducted under sectipn 36A
                   is required to submit the certificate in form DVAT-43, in original, along with
                   the DVAT return in form DVAT-16 or DVAT-17.               ,:"}~,

                          The above three provisions of DVAT Act and Rules read together mean


               *
                                                    t
                   that the contractee will furnish one copy of certificate in form DVAT-43 to the
                   contractor whereas the contractor is required to submit this certificate with his
                  DVAT return and also to preserve it for seven years.

                          -2-



      In view of this apparent contradiction    in the different    provisions of
DVAT Act and Rules, it is clarified that the contractor may file a photocopy of
the form DVAT-43 along with the return in form DVAT-16 or DVAT-17, as the
case may be. The original form DVAT-43 issued by the contractee may be
preserved by the contractor and produced before the Assessing Authority
whenever demanded.

This issues with the prior approval of the Commissioner VAT.



                                                                        ->
                                                               (T.C. Sharma)
                                                               VATO (Policy)

No.F.7(436)/Policy/VAT/2012/b0~'     0                   Dated:
                                                                  bQ..--~'S-


{aD}
 
 
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 Experience

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