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HIGHLIGHTS OF DVAT (4 th Amendment)Act,2012. CA VIJAY KUMAR GUPTA [email protected]. HIGHLIGHTS OF DVAT(4 th AMENDMENT ACT,2012) . Passed by the Delhi assembly on 13-12-2012 Received assent of LG on 24-12-2012 Applicable wef 16-01-2013. - PowerPoint PPT Presentation
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CA VIJAY KUMAR [email protected]
Passed by the Delhi assembly on 13-12-2012
Received assent of LG on 24-12-2012
Applicable wef 16-01-2013
By CA Vijay Kumar Gupta 2
Amendment in the defination of sale price(Sec.2(1) clause zd(vii)
Retail sale price of petrol and diesel will be treated as sale price
By CA Vijay Kumar Gupta 3
Amendment in Sec.36A Rate of TDS increase from 2% to
4% for payment made by any person(excluding Individual or HUF) to any contractor
Uniform rate of TDS to all dealers whether registered or unregistered
Rate of TDS on the payment by contractor to subcontractor increased from 2% to 4%
Uniform rate of TDS to all dealers whether registered or unregistered
By CA Vijay Kumar Gupta 5
Amendment to Sec.58A Requirement of proceedings under
DVAT-04 has been removed. Now, Commissioner can order Audit u/s 58A at his own will keeping in mind the nature and complexity of the business of the dealer
Section 58(2) substituted.
Fees of audit shall be determined and paid by the commissioner and his determination shall be final.
By CA Vijay Kumar Gupta 7
Amendment to Sec.95 For New dealers ,intimation of IEC
compulsory at the time of Registration Every dealer has to intimate his
existing IEC number to the Department with in 2 months i.e. 15-03-2013
If obtained subsequently, intimation with in 15 days of obtaining IEC
Failure to intimate IEC leads to penalty of 1000 per week subject to a maximum of 50000/-Sec.95(4)
By CA Vijay Kumar Gupta 9