Vat
sanjeevkhandelwal
(Querist) 25 April 2015
This query is : Resolved
Entry Tax on Long Steel under MVat with effect from 01/04/2015 onword,
Tax on schedule C ENTRY 55 (4) & 55(5)
As per LA Bill 2015
Finance Minister Speech in House are as.
“Entry Tax are Levied on some Goods in order to protect legitimate tax revenue of the state.
It is brought to my notice that long steel is being sold directly to consumers from neighboring state
This has resulted in a loss of legitimate tax revenue of the state. In order to ensure legitimate tax realization on consumption of long steel I propose to levy a five cent Entry Tax on long Steel.
To avoid double taxation on long steel , set off will be allowed as per provision.”
That’s Means,
1) It is on consumption
2) It is on those who already registered under M Vat/C Vat
3) It is not on Reseller who purchase from out of state and same sold in the state coz this sell are first sell in the state , dealer already paid first sale tax in the state
4) What s the meaning of this tax? COZ it is on registered Dealer.Eevery dealer calculate his Liablities before filling and pay or claim refund as the case may be & Now first pay then claim refund ?
5) If we think this tax on those who are not registered under M Vat/C Vat then what about Purchase set off mention in speech
6) can Entry tax payment are mandatory ?
Please Explain with your Expert Knowledge
sanjeevkhandelwal
(Querist) 29 April 2015
a lot of adviser confuse in above subject
it is better if your expert comment publish publically
all viewer benefited if posted here
sanjeevkhandelwal
(Querist) 01 May 2015
dear member
it was already posted in CA club India
but no body answer till
T. Kalaiselvan, Advocate
(Expert) 02 May 2015
If you could not get any reply in CA club, it is better you consult a local tax consultant who will be able to guide you properly as per your requirement.
sanjeevkhandelwal
(Querist) 05 May 2015
Dear T Kalaiselvan,
i am tax consultant here
on the above issue neither officer incharge in vat office nor our advocate freinds similar on one line means confuse regarding its applicablity
Advocate Kappil Cchandna
(Expert) 26 April 2015
