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2015

VAT Updates – Apr-2015

NOTIFICATIONS AND CIRCULARS

  1. The revised limit for getting road permit forms has been reduced from 50 crores to 25 crores. Vide notification No GVL/VAT/Sec.68 & 69(4)

Gujarat Vat Budget Highlights

  1. Imitation Jewellery will now be charged at 1% and not 5%
  2. Oral Contraceptive Pills will now be tax free. Earlier it was charged at 5%
  3. The rate of tax of Aviation Turbine Fuel from current rate of tax of 30% ( for Duty Paid ATF) and 38% (Bonded ATF) has been reduced to 5% when sold from the cities other than Ahmedabad and Baroda for scheduled Commercial Airline Service Flights
  4. Isabgul and Isabgul Husk are reduced from 5% and made fully exempt from tax
  5. Cotton Roving Purchased by Khadi Gramodhyog Board Approved Institutes they will be granted 5% of refund for such cotton used
  6. Technical Textile will be charged at 5%

Judgments

  1. The amount of interest and penalty levied on account of disallowance of tax credit in respect to the goods purchased from the dealers whose registration certificates were cancelled are set aside in view of the excess amount of tax credit which was carried forwarded to the subsequent year is held admissible against the tax liability of the current year. Held in M/s. Delta Rubber & Plastic Products S.A. No 22 of 2012 decided on 21/11/2013. Reported at 2013 GSTB 984
  2. Form ST-18A not kept with vehicle during movement of goods. Penalty not impossible since it was submitted in response to show cause notice held in Videocon Industries Ltd. A.C.T.O Flying Squad Nimahera(2014) 76 VST 286(Raj)[SB Sales Tax Revision Petition No 212 of 2012 Dated 28.02.2014]
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