Give a missed call on Toll Free
to download IndiaMART FREE Mobile App
- We search and recommend candidates from our extensive database based on the requirement details provided by the client.
- Replacement: If the selected candidate leaves on his own accord within three months of joining, there will be no fee for appropriate replacement, provided you inform us within a week of the candidate leaving your Company.
Head Hunting Service
- We undertake special Head Hunting assignments where the client has a very specific need that is not fulfilled through any other channel.
- Replacement: If the selected candidate leaves on his own accord within six months of joining, there will be no fee for appropriate replacement, provided you inform us within a week of the candidate leaving your Company.
If the selected candidate leaves on his own accord within three months of joining, there will be no fee for appropriate replacement, provided you inform us within a week of the candidate leaving your Company. The database received through the advertisement will be referred for the purpose of finding replacement. In case you decide to issue a new advertisement, the cost shall be completely borne by your organization
Sales tax is levied on the sale of a commodity which is produced or imported and sold for the first time. If the product is sold subsequently without being processed further, it is exempt from sales tax.
Sales tax can be levied either by the Central or State Government, Central Sales tax department. Also, 4 per cent tax is generally levied on all inter-State sales. State sales taxes, that apply on sales made within a State, have rates that range from 4 to 15 per cent. Sales tax is also charged on works contracts in most States and the value of contracts subject to tax and the tax rate vary from State to State. However, exports and services are exempt from sales tax. Sales tax is levied on the seller who recovers it from the customer at the time of sale.
Sales Tax in India is that form of tax which is imposed by the government on sale/purchase of a particular commodity within the country. It is imposed under Central Government (Central Sales Tax) and the State Government (Sales Tax) Legislation. Normally, each state has its own sales tax act and levies the tax at various rates. Apart from sales tax, certain states also impose extra charges such as works contracts tax, turnover tax & purchaser tax. Thus, sales tax plays a major role in acting as a major generator of revenue for the various State Governments.
Under the sales tax which is an indirect form of tax, it is the responsibility of seller of the commodity to collect or recover the tax from the purchaser. Generally, the sale of imported items as well as sale by way of export is not included in the range of commodities that require payment of sales tax. Moreover, luxury items (such as cosmetics) are levied higher sales tax rates. The Central Sales Tax (CST) Act that comes under the direction of Central Government takes into consideration all the interstate sales of commodities.
Hence, we see that sales tax is to be paid by every dealer when he sells any commodity, during inter-state trade or commerce, irrespective of the fact that there may be no liability to pay tax on such a sale of goods under the tax laws of the appropriate state. Sales tax is to be paid to the sales tax authority of the state from which the movement of the commodities starts or commences.
VAT replaces sales tax
However, most of the states in India, from April 01, 2005, have supplemented the sales tax with the new Value Added Tax (VAT). VAT in India is classified under the following tax slabs:
- 0% for the essential commodities
- 1% on gold ingots as well as expensive stones
- 4% on capital merchandise, industrial inputs, and commodities of mass consumption
- 12.5% on all other items
- Variable rates (depending on state) are applicable for tobacco, liquor, petroleum products, etc.
Advertisement & Response Event Management Services
- Please use Ink Jet /Laser printer to print the ITR-V Form.
- Avoid printing on Dot Matrix printer.
- The ITR-V Form should be printed only in black ink.
- Do not use any other ink option to print ITR V.
- Ensure that print out is clear and not light print/faded copy.
- Please do not print any water marks on ITR-V. The only permissible watermark is that of "Income tax Department" which is printed automatically on each ITR-V.
- The document that is mailed to CPC should be signed in original in BLUE INK.
- Photocopy of signatures will not be accepted.
- The signatures or any handwritten text should not be written on Bar code.
- Bar code and numbers below barcode should be clearly visible.
- Only A4 size white paper should be used.
- Avoid typing anything at the back of the paper.
- Perforated paper or any other size paper should be avoided.
- Do not use stapler on ITR V acknowledgement.
- In case you are submitting original and revised returns, do not print them back to back. Use two separate papers for printing ITR-Vs separately.
- More than one ITR-V can be sent in the same envelope.
- Please do not submit any annexures, covering letter, pre stamped envelopes etc. along with ITR-V.
- The ITR-V form is required to be sent to Post Bag No.1, Electronic City Post Office, Bengaluru, Karnataka-560100, by ordinary post or speedpost.
- ITR-Vs that do not conform to the above specifications may get rejected or acknowledgement of receipt may get delayed.
Under Section 2(12) The Act is applicable to the factories employing 10 or more persons irrespective of whether power is used in the process of manufacturing or not.
Under Section 1(5) of the Act, the Scheme has been extended to shops, hotels, restaurants, cinemas including preview theatre, road motor transport undertakings and newspaper establishment employing 20 or more persons.
Further, u/s 1(5) of the Act, the Scheme has been extended to Private Medical and Educational Institutions employing 20 or more persons in certain States .
The State Govt. has been requested to issue notification under Section 1(5) on the lines of Section 2(12) keeping the threshold limit for coverage as 10 employees instead of 20.
The existing wage-limit for coverage under the Act, is Rs.15,000/- per month (with effect from 01.05.2010).
1. Constitutional & Legal provisions behind the levy of Service Tax in India
2. Formation and functions of DGST
3. Existing scheme for levy, assessment & collection of Service Tax in India
4. Analysis of Service Tax Revenue
5. Challenges before the Service Tax Administration in India
6. Electronic Tax Administration
7. Audit and Inspections
8. Future growth path for Service Tax in India
9. Telephone Directory of DGST
10. CPIO/CAPIO-Right to Information Act, 2005.
- Establishments employing 20 or more persons and engaged in any of the 180 industries / Classes of Businesses specified.
- Co-operative Societies, employing 50 or more persons & working without the aid of power.
- Establishments not coverable statutorily can come under the coverage of the Act statutorily.
- An establishment continues to be covered under the Act, irrespective of the fall in the employment strength.
- Since the Act applies on its own force to the establishments, the employers are required to file the particulars in the specified format for registration and allotment of business number.
- Statutory rate of contribution is 12% of emoluments (basic wages, dearness allowance, cash value of food concession and retaining allowances if any,) in the case of 175 establishments.
- Rate of contribution shall be 10% in the case of the following:
Brick, beedi, jute, guar gum factories, coir industry other than spinning sector.
- Establishments declared as sick undertakings by BIFR.
- A matching contribution is to be collected from the emoluments of the employees.
Out of 12% (or 10% as the case may be) of the employer’s share of contribution, 8.33% is to be remitted towards pension fund.
- Employer is also required to pay a contribution of 0.5% of the emoluments towards EDLIS’1976.
- An employer is required to pay administrative charges at 1.10% of emoluments towards provident fund charges and 0.01% towards EDLI Scheme 1976.
- No separate administrative charges for pension scheme
- In respect of exempted establishment under P.F. Scheme employer is liable to pay only inspection charges at the rate of 0.18% of emoluments.
- In the case of establishment exempted from EDLI Scheme, the employer is required to pay only inspection charges at the rate of 0.005% of emoluments.
- For belated remittances of contributions, administrative / inspection charges interest at the rate of 12% on such remittances for the period of delay is to be remitted.
- For all the belated remittances of contribution and administration/inspection charges damages are also payable as penalty ranging from 17% to 37% p.a. depending upon delay.
Duties of Employer
- Enrol all categories of employees including the employees engaged by or through contractors and also piece rated, hourly rated employees.
- Remit the contributions and administrative charges before the 15th of the following month.
- File the initial returns of Form 9, Form 3(P.S.), form 5A.
- File the monthly returns in Form 12A, Form 5, Form 10 and Challans for remitting the dues.
- Maintain the contribution card in respect of each employee in Form 3A and submit the annual returns in Form 3A and 6A after reconciliation with Challans and form 12A.
- The employer has to ensure that statutory dues in respect of contractors employees are remitted and returns filed.
- Employer should attest the form No.2 and the claims forms submitted by the member/ legal heirs/ nominees.
- Make available all relevant records for inspection of visiting officials with due authorisation.
To,City Tax Consultants