Notification 18/2011 dated 1st March 2011 brought stringent provisions of service tax to get early revenue to the government by introducing “Pont of Taxation Rules, 2011”. The purpose of rule is to set out as to when service tax to be paid by the service provider and determination of effective rate of service tax.
From 1st April 2011 the rule is came into effect but through notification no.25/2011 it is effectively applicable from 1st July 2011.
What is the “Point of Taxation”?
“Point of Taxation” means the point in time when...
Tuesday, 18 June 2013
Latest SC Decision – A fit case for review
In Ganduri Koteshwaramma and Anr. Vs. Chakiri Yanadi & Anr. (in Civil Appeal No. 8538 of 2011) decided by the Supreme Court on 12.10.2011, it is not clear as to when was the Suit for partition instituted. This information is very much necessary, especially in the context of partition of a Hindu coparcenary property.
There are two possibilities – (1) the suit for partition might have been instituted prior to coming into force of the Hindu Succession (Andhra Pradesh) Amendment Act, 1986; or (2) instituted after...
Statutory first charge of Government and position of the Bankers
Taxing statutes provide to the effect that Notwithstanding anything contained in any contract to the contrary, but subject to any provision regarding first charge in any Central Act for the time being in force, any amount of tax, penalty, interest or any other sum, payable by a dealer, or any other person under the Act, shall be the first charge on the property of the dealer, or, as the case may be, person.
The reading of the section suggests that liability under the Sales Tax Act shall be first charge. It overrides anything contained in any...
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