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: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS :: TDS :: VAT RATES :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: cpt :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India
 
 
VAT (Value Added Tax) »
 15% rise in collectionof VAT for Oct-Nov
 China to simplify tax scheme after switch to VAT
 Cabinet clears key proposals on VAT, regularisation of jobs
 Cases of VAT overcharging flood consumer forum
 State seeks relief from Centre
 Flat rate VAT changes for small businesses explained
 Cenvat Credit Of Additional Duties Of Customs [Cvd] On Imported Coal
 Excise Dept puts VAT refund on fast track
 Consumer fora receive 18 VAT plaints
 Appointment of Assistant VATO - F.3(14)/Fin(Rev-I)2012-13/DSVI/334
 Bio-diesel body seeks VAT relaxation

HC asks DGSC Ltd to pay 5 cr towards VAT
August, 07th 2013

The Punjab and Haryana High Court has asked the DGSC Ltd has been ordered to pay Rs 5 crore as VAT dues to the excise and taxation department, Gurgaon.

A double bench of Justice A K Mittal and Justice Jaspal Singh directed the petitioner, M/s DGSC Ltd, that Rs 5 crore from the account of M/s DGSC Ltd, formerly M/s Jay Pee DSC Ltd, from its Axis Bank account (Account No.056010200004053 of the petitioner), be remitted to the excise department and also the recovery of penalty shall remain stayed during the pendency of appeal. The court ordered that Rs 5 crores from the account of M/s DGSC Ltd. formerly known as M/s Jay Pee DSC Ltd, with Axis Bank, Sector 14, Gurgaon (Account No.056010200004053 of the petitioner) be remitted to the department and also the recovery of penalty shall remain stayed during the pendency of appeal.

The petitioner had approached the court, seeking quashing of the revenue order whereby bankers have been restrained from allowing withdrawal from the account. The company was assessed to VAT under the provision of Haryana Value Added Tax Act, 2003 (HVAT Act) for the assessment years 2003-04 to 2007-08.

The excise and taxation department had created an original demand of Rs 29.51 crore for various years on account of VAT and penalty levied under relevant sections of the Act. According to the department, a sum of Rs 10.35 crore out of the total had been recovered and Rs 19.16 crore is still outstanding. As per the affidavit filed by the excise and taxation department, it has been stated that an amount of Rs 5 crore be ordered to be released to the revenue department by draft. The petitioner's counsel submitted that the company does not dispute releasing of Rs 5 crore to the revenue department towards the tax liability and not on account of penalty.

The counsel stated that the amount of Rs 5 crore be adjusted towards the tax liability as may be determined on the final adjudication of the matter in appeals, which are pending before the appellate authority.

The court, while disposing of the petition, further directed that the recovery of penalty shall remain stayed during the pendency of appeal and it shall be open to the revenue department to recover the amount of substantive tax liability outstanding against the petitioner, in accordance with law.

The DGSC Ltd officials could not be contacted despite repeated attempts.

The petitioner company has been authorised by the National Highway Authority of India (NHAI) for conversion of the Delhi-Gurgaon into access controlled eight-lane highway with, service lanes along with certain section and strengthening of the existing lanes falling partly in Delhi and partly in Haryana, on the basis of agreement of Build Operate and Transfer.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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