Commercial Tax Department of Karnataka Government has introduced an all new System of VAT filing wherein a dealer is required to file the detailed list of Purchases, Sales, Interstate Purchases, Stock Transfer and Imported Purchases in the specified format. These statements are required to be uploaded before filing monthly Return. The statements are required to be filed by dealers with a total turnover exceeding Rs 50 Lakhs in the previous year or cumulatively at any point in time during the current year.
The Central Board of Excise and Customs (CBEC) has issued clarifications regarding levy of service tax on certain transactions relating to restaurant services. In this context, it could be recalled that effective April 1, 2013 all the restaurants (other than non air-conditioned restaurants) were brought under the service tax net. The transactions and clarifications issued in respect of the same have been summarized below for your reference:
Hanish is a Chartered Accountant practicing in the area of Indirect Taxes