Bahrain Releases Guidance on Market Value Computation Associated with Related Party Transactions
The Bahrain National Bureau of Revenue (NBR) has released guidance on the computation of market value associated with related party transactions for VAT calculations. As per Article 22 of the VAT Law and Article of
China’s VAT Law: All You Want to Know
China’s Ministry of Finance and State Administration published the consultation draft of its Value-added Tax Law ( China's VAT Law ) for the legislation process of the VAT system on November 27, 2019.  Public comments
Tamil Nadu Government reduces VAT on Petrol and Diesel [Read Notification]
The Tamil Nadu Government notified the reduction in Value Added Tax (VAT) on Petrol and Diesel. The finance minister, Palanivel Thiaga Rajan said “Tamil Nadu Government has announced that tax on petrol will be reduced
Bahrain announces Guidance on VAT Treatments
The National Bureau for Revenue (NBR) of Bahrain announced guidance on Value-Added Tax treatment in certain areas. Most significant of them included simplified annual value-added tax (VAT for small businesses, updated guidance on the Bahrain
Delhi Govt. reduces VAT on Petrol [Read Notification]
The Delhi Government has reduced the Value Added Tax (VAT) on Petrol to 19.40% from 30%. The new rates will be applicable come into effect from 1st December 2021. With this price reduction, petrol price
Delhi Govt. increases VAT on Liquor [Read Notification]
The Delhi Government has increased the Value Added Tax ( VAT ) on Liquor. In the exercise of the power conferred by sub-section (1) of section 103 of Delhi Value Added Tax Act, 2004, Lt.
VAT in UAE: 10 Things to Know for a Smooth VAT Rollout
The Federal Tax Authority (FTA) has announced a list of the top ten things businesses must know before registering for VAT, in order to raise awareness within the business community, as well as society at
Federal Tax Authority Calls On All Businesses to Register for VAT
Registration is encouraged to avoid the risk of missing the January 1, 2018, deadline, which would entail the Administrative Penalties stipulated in Cabinet Decision No. (40) of 2017. The Federal Tax Authority (FTA) has invited
Maharashtra’s Govt. withdraws pending VAT Proceedings [Read Notification]
The Maharashtra Government notified the order for withdrawal of pending Value Added Tax (VAT) Assessment Proceedings. For the effective utilization of the available manpower for the disposal of pending work under the Value Added Tax
Bihar State Assembly passes Bihar VAT (Amendment) Bill
The Bihar State Assembly today passed Bihar Value Added Tax (VAT) (Amendment), Bill, 2016  by a majority vote with 151 votes in favor and 51 against it. The Bihar VAT (Amendment) Bill, 2016 proposes one
Punjab Govt. decides to Exempt 1.50 Lakh Tax Assessment Cases
In a major relief to traders ahead of the assembly polls, the Punjab Government has decided to exempt about 1.50 lakh cases from assessment related to cases of 'C' form from 2014-15 to 2017-18. The
Puducherry LG announces 2% VAT cut on petrol, diesel
The Lt. Governor, Tamilisai Soundararaja of Puducherry announced a 2% Value Added Tax (VAT) cut on petrol and diesel. The Union Oil Minister, Dharmendra Pradhan had said that the raging fuel prices will come down
Delhi Govt. reduces VAT on Hybrid Cars, Footwears, E-rickshaws, sweets etc. [Read Statement]
The Government of National Capital Territory through a statement has reduced Value Added Tax(VAT) on Hybrid cars, battery-operated vehicles and e-rickshaws. The government also reduced VAT on all types of footwear/readymade garments from 12.5% to
Maharashtra Govt releases revised List of Documents for VAT Registration [Read Trade Circular]
The Maharashtra State Government recently released the revised list of documents for Maharashtra VAT registration. The State Government had started online facility in the year 2015 enabling the tax payers to apply and submit documents for
Rajasthan Govt. issues clarification on VAT Amnesty Scheme, 2021 [Read Circular]
The Rajasthan Government issued the clarification on the VAT Amnesty Scheme, 2021. The government clarified that outstanding demands or disputed amounts that pertain to regular assessment and its escaped assessment, if any, and are not