Title : Security
State : Karnataka
Year : 2003
(1) The prescribed authority may, for the proper payment of the tax, from time to time demand from a registered dealer or from a dealer who has applied for registration under this Act, reasonable security not exceeding a prescribed amount to be paid in the prescribed manner. (2) The prescribed authority may, by order, forfeit the whole or any portion of the security furnished by a dealer, (a) for collecting any amount of tax, interest or penalty that is payable by such dealer, or (b) if such dealer is found to have misused any prescribed certificate or declaration or has failed to keep or retain them in the prescribed manner. (3) No order shall be passed under sub-section (2), without giving the dealer an opportunity of showing cause in writing against such forfeiture. View Complete Act List Judgments citing this sectionTitle : Assessment of Tax
State : Karnataka
Year : 2003
(1) Every dealer shall be deemed to have been assessed to tax based on the returnfiled by him under Section 35, except in cases where the Commissioner may notifythe dealer of any requirement of production of accounts in support of a returnfiled for any period. (2) Where a registered dealer fails to furnish his monthly or final return on orbefore the date provided in this Act or the rules made there under, theprescribed authority shall issue an assessment to the registered dealer to the best of its judgment and the tax assessed shall be paid within ten days from the date of 2[service of such assessment on the dealer.] (3) Where an assessment has been made under sub-section (2) and the dealersubsequently furnishes a return for the period to which the assessment relates,the prescribed..... View Complete Act List Judgments citing this sectionTitle : Rounding off of Tax, Etc
State : Karnataka
Year : 2003
1[The amount of tax, penalty or any other amount payable and the amount of refund due, under this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise, it shall be ignored.] _____________________ 1. inserted by Act 10 of 2008 w.e.f 1.8.2008 View Complete Act List Judgments citing this sectionTitle : Revisional Powers of Additional Commissioner and Commissioner
State : Karnataka
Year : 2003
(1) The Additional Commissioner may on his own motion call for and examine therecord of any order passed or proceeding recorded under this Act and if heconsiders that any order passed therein by any officer, who is not above therank of a Joint Commissioner, is erroneous in so far as it is prejudicial to theinterest of the revenue, he may, if necessary, stay the operation of such orderfor such period as he deems fit and after giving the person concerned anopportunity of being heard and after making or causing to be made such inquiryas he deems necessary, pass such order thereon as the circumstances of the casejustify, including an order enhancing or modifying the assessment, or cancelingthe assessment or directing a fresh assessment. (2) The Commissioner may on his own motion call for..... View Complete Act List Judgments citing this sectionTitle : Validity of Assessments Not to Be Questioned in Prosecution
State : Karnataka
Year : 2003
The validity of the assessment of any tax or of the levy of any fee or other amount, made under this Act, or the liability of any person to pay any tax, fee or other amount so assessed or levied shall not be questioned in any Criminal Court in any prosecution or other proceeding, whether under this Act or otherwise. View Complete Act List Judgments citing this sectionTitle : Partial Rebate
State : Karnataka
Year : 2003
Where a registered dealer deducting input tax (1) makes sales of taxable goods and goods exempt under Section 5, or (2) in addition 1[sales of taxable goods or] the sales referred to in clause (1), dispatches taxable goods or goods exempted under Section 5 outside the State not as a direct result of sale or purchase in the course of inter-State trade, or (3) puts to use the inputs purchased in any other purpose (other than sale, manufacturing, processing, packing or storing of goods), in addition to use in the course of his business, 1[or] 1[(4) falls under any of the above clauses and also purchases any petroleum product for use as fuel in production of any goods or captive power,] apportionment and attribution of input tax deductible between such sales and despatches of..... View Complete Act List Judgments citing this sectionTitle : Reimbursement of Tax
State : Karnataka
Year : 2003
Tax collected under this Act on purchases made by specialised agencies of the United Nations Organisation and Consulates or Embassies of any other country 1[but excluding consulates or embassies of such countries as may be notified] 2[***] shall be reimbursed in such manner and subject to such conditions as may be prescribed. _______________________ 1. Inserted by Act 6 of 2007 w.e.f. 01.04.2007. 2. omitted by Act 4 of 2006 w.e.f. 01.04.2006. "located in the State" View Complete Act List Judgments citing this sectionTitle : Credit and Debit Notes
State : Karnataka
Year : 2003
(1) Where a tax invoice has been issued for any sale of goods and within six months from the date of such sale the amount shown as tax charged in that tax invoice is found to exceed the tax payable in respect of the sale effected , 1[or is not payable on account of goods sold being returned within the prescribed period] the registered dealer effecting the sale shall issue forthwith to the purchaser a credit note containing particulars as prescribed. (2) Where a tax invoice has been issued for sale of any goods and the tax payable in respect of the sale exceeds the amount shown as tax charged in such tax invoice, the registered dealer making the sale, shall issue to the purchaser a debit note containing particulars as prescribed. 2[(3) Any registered dealer who receives or issues,..... View Complete Act List Judgments citing this sectionTitle : Period of Retention of Accounts
State : Karnataka
Year : 2003
(1) Every dealer required under this Act to keep and maintain books of account or other records including tax invoices relating to his purchases and sales shall retain them until the expiration of five years after the end of the year to which they relate or for such other period as may be prescribed or until the assessment reaches finality, whichever is later. (2) Where such dealer is a party to an appeal or revision under this Act, he shall retain, until the appeal or revision and any appeal there from is finally disposed of, every record and accounting document that pertains to the subject matter of the appeal or revision. View Complete Act List Judgments citing this sectionTitle : Electronic Records
State : Karnataka
Year : 2003
Every dealer required to keep and maintain records and accounts pursuant to Section 31 and who does so by electronic means shall retain them in an electronically readable format for the retention period specified in Section 32. View Complete Act List Judgments citing this section