TN VAT Audit - Applicability Clarification

Circular under Tamil Nadu Value Added Tax

Circular No. 09 / 2012  Dated 14th September, 2012
Sub: TNVAT Act, 2006 – Commercial Taxes Department –Introduction of Section 63-A under the
Act – Clarification Issued – Regarding.

A new Section 63-A to TNVAT Act, 2006 was introduced by Act No.18 of 2012 requiring a registered dealer to get his accounts audited by an accountant if the total turnover of the dealer including zero rate sale and sale in the course of inter-state trade or commerce as specified in section 3 of the CST Act, 1956 exceeds one crore rupees in a year.

Rule 16A of TNVAT Rules, 2007 provides for submission of such audit report in form WW as per G.O.Ms.No.119, CT&R (B1) Department, dated:30-08-2012.

This amendment takes effect from 30-08-2012 as per G.O.Ms.No.118, CT&R (B1) Department, dated: 30-08-2012.

It is brought to the notice of all the officers that submission of Audit Report in Form WW is applicable from the financial year 2011-12 onwards.

Sd/- R. Kirlosh Kumar
Commissioner of Commercial Taxes (FAC)
 

TN VAT Audit - Amendment - Contents

TN VAT Audit : Rule 16A -Amendments in VAT 30-08-12

https://docs.google.com/open?id=0B-0hzoMM8_XZUmxmWkFKVkdPZGc

 

TN VAT AUDIT

Tamil Nadu VAT (Third Amendment) Act, 2012, which received the assent of the Governor on 31st May, 2012 recognizes Cost Accountants for VAT Audit under the Act

TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

The following Act of the Tamil Nadu Legislative Assembly received the assent of the Governor on the 31st May 2012 and is hereby published for general information:—

ACT No. 18 OF 2012.
An Act further to amend the Tamil Nadu Value Added Tax Act, 2006.

BE it enacted by the Legislative Assembly of the State of Tamil Nadu in the Sixty-third Year of the Republic of India as follows:—

Short title and commencement.
1. (1) This Act may be called the Tamil Nadu Value Added Tax (Third Amendment) Act, 2012.
(2) It shall come into force on such date as the State Government may, by notification, appoint.

Insertion of new section 63-A.
2. In the Tamil Nadu Value Added Tax Act, 2006, after section 63, the following section shall be inserted, namely:—

63-A. Accounts to be audited in certain cases.—(1) Every registered dealer whose total turnover including zero-rate sale and sale in the course of inter-State trade or commerce as specified in section 3 of the Central Sales Tax Act, 1956 (Central Act 74 of 1956) in a year, exceeds one crore rupees, shall get his accounts in respect of that year, audited by an Accountant and submit a report of such audit in the prescribed Form, duly signed and verified by the Accountant, to the Assessing authority, within such period as may be prescribed.

Explanation.—For the purpose of this section “Accountant” means, a Chartered Accountant as defined in the Chartered Accountants Act, 1949 (Central Act 38 of 1949) or a Cost Accountant as defined in the Cost and Works Accountants Act, 1959 (Central Act 23 of 1959).

(2) If such registered dealer fails to get his accounts audited and submit a report of such audit within the prescribed period, as required in sub-section (1), the Assessing authority may, after giving a reasonable opportunity of being heard, direct such registered dealer to pay by way of penalty of sum of rupees ten thousand, in addition to any tax payable, in respect of the said period:

Provided that, this section shall not apply to the departments of Central and State Governments, local authorities, the railway administration as defined under the Railways Act, 1989 (Central Act 24 of 1989), the Tamil Nadu State Road Transport Corporations and similar such registered dealers, as may be notified by the Government.

(By order of the Governor)
G. JAYACHANDRAN,
Secretary to Government

Same name, birthday get two men same PAN number

JAIPUR: PAN numbers are supposed to be like fingerprints. No two people can have the same one.

Well, the Income Tax department seems have made an exception.

The I-T department issued the same Permanent Account Number (PAN) to two different persons with the same name. The aggrieved individuals, one a resident of Haridwar, and the other from Jaipur, realized the goof-up when one of them was intimated of a loan sanctioned in his name that he had never sought.

One of the things that may have caused the confusion can be the fact that Rajesh Singh of Haridwar shares his name with Rajesh Kumar Singh of Jaipur. The coincidence doesn't end here. The fathers of both men also bear the same name — Mohan Singh — and the two share the exact same date of birth — December 1, 1970. The I-T department then decided to give them one more thing in common, the PAN number (ADGPS2143H).

Rajesh Kumar Singh, assistant engineer with RIICO, said, "The person in Haridwar telephoned me after he was told by the bank that
a loan of Rs 5 lakh had been taken from HDFC bank in Jaipur on his pan card number."

Incidentally, the Rajesh in Haridwar too had gone to seek a loan. Considering that he had never visited Jaipur, news of a pre-existing bank loan came as a rude shock.

"He traced my number with the help of officials and sent me the copy of his pan card. So far, I haven't faced any problems due to this duplication. However, to avoid any problems in the future, I have sought cancellation of one card number," Kumar said.

Source : http://m.timesofindia.com/city/jaipur/Same-name-bday-get-2-men-same-PAN-number/articleshow/16582759.cms

ST3 for Half year ending 30th Sep 2012

 ‘ST-3’ required to be submitted by the 25th day of October, 2012 shall cover the period between 1st Aprilto 30th June, 2012 only.”

NOTIFICATION APPENDED HEREWITH:

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY , PART II, SECTION 3, SUB-SECTION(i)

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

NOTIFICATION No 47/2012-SERVICE TAX

New Delhi, the 28th September, 20126 Asvina, 1934 Saka

G.S.R (E).-In exercise of the powers conferred by sub-section(1) read with sub-section (2) of section 94 of the Finance Act 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely:-

 1. (1) These rules may be called the Service Tax(Fourth Amendment) Rules, 2012.

(2) They shall come into force on the date of their publication in the Official Gazette.

2.         In the Service Tax Rules,1994, in rule 7, in sub-rule(2), the following proviso shall be inserted, namely:-

          “Provided that the Form ‘ST-3’ required to be submitted by the 25^th day of October, 2012 shall cover the period between 1^st April to 30^th June, 2012 only.”

F.No 341/21/2012-TRU(Rajkumar Digvijay)Under Secretary to the Government of India

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i) vide notification No. 2/94-ST, dated 28^th June, 1994 vide number G.S.R 546(E), dated the 28^th June, 1994 and were last amended by notification No 46/2012- Service Tax, dated the 7^th August 2012 , vide GSR 622 (E) dated the 7^th August 2012.

Source : http://www.servicetax.gov.in/notifications/notfns-2012/st47-2012.htm



Further Announcement regarding modified ST3 Return :

All Service Tax assessees are hereby informed that they will not be able to file ST 3 returns in ACES now and have to wait until the modified version of ST 3 Form is made available in a few weeks.

Please revisit ACES website(http://www.aces.gov.in) for further information. Inconvenience caused is regretted.

Source : http://cbec.gov.in/cae1-english.htm

Got to open 2007, 2010 office doucments in Office 2003 ?

Solution : Microsoft Office Compatibility Pack for Word, Excel, and PowerPoint File Formats

It's a 37MB File. Run this EXE and this ensures you are able to open .docx,  .xlsx extension files in Office 2003 itself.

Install this compatibility pack if you would like to open, edit, and save documents, workbooks, and presentations that were created in the newer versions of Word, Excel, and PowerPoint.

Link : http://www.microsoft.com/en-us/download/details.aspx?id=3

Signature encoding error. Unable to process digital signature

ISSUE :

There is a new error which pops while trying to upload the XML file with Digital Signature which is as follows :

REASON :

As per CPC Banglore, the same is due to "Schema File" of ITD not working properly.

SOLUTION :

Nothing as of now. Wait till the same is rectified from ITD.
ERROR RECTIFIED as Schema File by ITD updated as at 2-Jun-2012.

Filing Income tax returns for DECEASED INDIVIDUAL, 44AD and DSC

For an Individual applicant who has passed off and the return needs to be filed under the auditable category.


" This is regarding cases where the assesse has died and digital signature is mandatory u/s 44AB. In such cases, the legal representatives (LR) has to get a non-PAN-digital-signature in his own name.

After getting the non-PAN-DSC in his own name, the LR will have to send an e-mail to efiling.administrator@incometaxindia.gov.in/efiling@incometaxindia.gov.in mentioning the name,PAN,DOB of deceased and LR with scanned attachment of the death certificate of the deceased. IT Dept. will verify the PAN details and make an entry in EF. A confirmation to this effect will be sent to the originating e-mail-id.

The LR will now be able to login to the user id of the deceased and update the digital-signature with his own non-PAN-DSC. While preparing the e-Return, the LR has to enter his own-PAN in the verification-part of the e-return."

DSC - Common Issues - " Unable to access " error

Error :

"Unable to access some of the fields of the
HTML form. Please check the applet parameters."

Possible Solution :

In Internet Explorer, click on Tools > Internet Options > Security.
                Click “Internet” and “Default Level” button and change the Security Settings to “Medium”.
                Click “Custom Level” Button.
                Enable the “Download Signed ActiveX controls” option.
                Enable the “Run ActiveX controls and Plugins” option.
                Enable the “Script ActiveX controls marked safe for scriptting” option.

DSC - Common Issues - Fakepath Error

For “C:/Fakepath” error eg. C:/Fakepath/filename.txt when trying to upload the IT Return.

SOLUTION is as follows:
The error is usually faced by people using Internet Explorer 8 (IE8).
You can resolve this through any one of the following 3 ways:

1. In IE8, Change Security Settings:
Internet Explorer>Tools>Internet Option>Security>Custom
Find and Enable the "Include local directory path when uploading files to a server"
(it is quite a ways down)

2. In IE8, Add the site to your Trusted Sites:
Tools>Internet Options>Security>Trusted Sites>Sites

3. Create a folder named "Fakepath" in C: & copy your xml file, in that folder.

According to the HTML5 specifications, a file upload control should not reveal the real local path to the file you have selected, unless it is a trusted site.

This is already implemented in IE 8 and since the site is not added to your "trusted sites", it gives the error.

Note : Option 3 is working fine when tested.