What is the Vat tax rate for Adhesive

  Vat Tax Rate for Commodity 303 in Tamilnadu Commodity Code 303 Description of Goods Adhesives of all kinds including gum, glue, adhesive solutions, gum paste, lapping compound, liquid M-seal epoxy, adhesive tapes, self adhesive tapes, gum tapes, gummed tapes and resin other than those specified elsewhere in this Schedule Schedule I Part C From Date 01-01-2007 Rate of Tax 14.5%

Finance Act Changes – Financial year 2016-17

Changes in financial act 2016-17 Salary table of Form 24-Q4 of FY 16-17 has been updated incorporating the required changes as per the Finance Act, 2016 such as; · Surcharge rate enhanced from 12% to 15% · Rebate u/s 87A limit enhanced from 2000 to 5000 · Deduction in respect of Interest on loan for residential house property u/s 80EE – Rs.50,000 p.a. · Deduction…

Purchase annexures in new web portal – Tamilnadu Commercial Tax

Name of Annexure Type of Annexure (Purchase side) Annexure 1 List of 1st Schedule Goods Purchased from Registered Taxpayer Annexure 2 List of 1st Schedule Goods Received from Registered Local Principal by Agents Annexure 3 List of 1st Schedule Goods Purchased from Unregistered Taxpayer (Net Purchases) Annexure 4 List of 2nd Schedule Goods Purchased from Registered Taxpayer other than Sugarcane Annexure 5 List of Purchase…

TDS Rate Chart for FY 2016-17

S.No. Sec.  Nature of Payment Above basic exemption limit Rate Percentage HUF/IND Others if No.PAN 1 192  Salaries  — Income tax slab rates N.A. 30% 2 194A  Interest Payment            5,000 10% 20% 3 194 C  Contracts & Sub-Contracts(Ex: Labour Charges, Advertisements, Freight Charges,  Works-Contract, etc.)  Rs. 30,000/- per transaction Rs.1,00,000/- per client PA 1% 2% 20% 4 194 H  Commission & Brokerage         15,000…

List of Vat returns in Tamilnadu Sales tax

Form Name No. of Annexures Duration of filing Taxpayers eligible to file  VAT FORM I 29 Monthly All Taxpayers  VAT FORM I1 2 Annually Dealers doing business in exclusively Exempted Goods purchased locally  VAT FORM K 2 Monthly Taxpayers registered under all Composition Scheme ( u/s 3(4), 6, 6A, 8)  VAT FORM M 0 Quarterly Government Departments  VAT FORM N 0 Annually In case of…

List of Sales Annexures – eCtax Tamilnadu

Sales annexures in new web portal – Tamilnadu Commercial Tax Name of Annexure Type of Annexure (Sales side) Annexure 15 List of 1st Schedule Goods Sold to Registered Taxpayer within the State by Taxpayer Annexure 16 List of 1st Schedule Goods Sold on behalf of Local Registered Principal as Agent Annexure 17 List of 1st Schedule Goods Sold by Agents – to be declared by…

Income Declaration Scheme 2016

CBDT Circular No 16/2016, Dated: May 20, 2016 [F.No.370142/8/2016-TPL] Introduction The Income Declaration Scheme, 2016 (referred to here as ‘the Scheme’) is contained in the Finance Act, 2016, which received the assent of the President on the 14th of May 2016. The Scheme provides an opportunity to persons who have paid not full taxes in the past to come forward and declare the undisclosed income and…

12 Major Changes in Tax rates from 1st June 2016

If the consideration for sale / provision of service is received in cash exceeding Rs. 2 lakhs, then the seller will have to collect 1% TCS from the buyer and pay it to the government. 1% TCS will have to be deducted by the seller in case of sale of car whose value exceeds Rs. 10 lakhs. Deduction of TDS yearly limit for Contractor Section…

How to apply Vat Registration in Tamilnadu

Registration is a process that allows on-line registration with the Commercial Taxes Department (Sales Tax)  by any person, liable to be registered under Value Added Tax, Central Sales Tax, Entertainment Tax, Luxury Tax and Betting Tax. Voluntary registration is also allowed, wherever permitted. Signup/Sign in Process: Access to Tamil Nadu Commercial Taxes Department Portal Click on e-Services Link on the Left Side of the Portal…