INDIRECT TAXES – VAT Update
^ { < { of 95 per proof litre. Minimum excise duty on If Financial Institution is one of the parties to instrument or right is created in favour of Financial Institution, the liability to pay proper stamp duty shall be on financial institution concerned. The provision is proposed to made to round up the stamp duty to the next 100 rupees and the fraction of less than ` 50. A conveyance deed executed ! to sell as a deemed conveyance shall be treated as supplementary documents and duty of ` 100 only will be charged. Uniform Stamp duty of 0.25% of some of rent payable for the period of agreement â&#x20AC;&#x201C; An amount of non-refundable deposit an interest calculated @ 10% at refundable deposit will be charged throughout the state.
H)
Amendment to State Excise Â&#x201A; > Â&#x192;Z%Â&#x201E; <
The minimum rate of excise duty on Country liquor is increased to 110 per proof litre instead
IMFL increased to 300 from ` 240/- per proof litre. Fermented strong beer would be subjected to excise duty of ` 60 per bulk litres or 200% of manufacturing cost which ever is higher. Export fee on IMFL with MRP of less than 500 is increased from ` 1 to ` 3 per bulk litre. IMFL having MRP of 500 or more would attract export fees of ` 10 per bulk litre.
I.
Notification under CST Act exempting Interstate Sale of furnishing cloth covered by C-101
By notification issued under section 8(5) of Central Sales Tax Act. The tax payable on interstate sale of furnishing cloth notified under C-101 of MVAT Act is exempt w.e.f. 30th March, 2013. (Notification No. CST.1413/ CR 48/Taxation-1 dt. 30th March, 2013).
BUSINESS
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ML-487
The Chamber's Journal April 2013
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