Court : Karnataka
..... the petitioner claims that it is a dealer in cars and is entitled to deduction of discounts allowed to customers in the sale price of cars after the cars were sold by issuing credit notes as authorized by rule 31 of karnataka value added tax rules, 2005 (hereinafter referred to as the kvat rules , for brevity) read with section 30 of karnataka value added tax act, 2003 (hereinafter referred to as the kvat act, for brevity), during the tax periods in 2006-2007 and 2007-2008. ..... lj 337, wherein it was held that rule 31 was with regard to particulars of credit and debit notes which were to be furnished by registered dealers ..... where a registered dealer has given a tax invoice in respect of a sale of goods and thereafter the goods or any part thereof are returned to the seller if the sale is cancelled or for any other reason, or the value of the sale is altered, whether due to a discount or otherwise, he shall, subject to the provisions of section 30, give to the buying dealer a credit or debit note containing the following details, namely ..... particulars of credit and debit notes ..... . in fact, it is necessary to note that rule 3(2) (c) of the rules pertains to the discounts that can be allowed in terms of the regular practice whereas rule 31 is with regard to particulars of credit and debit notes which has to be furnished by the registered dealers as and when the credit notes are issued to the purchasers which would automatically result in variation in the amounts as stated in the invoices .....
Tag this Judgment!Court : Karnataka
..... the petitioner claims that it is a dealer in cars and is entitled to deduction of discounts allowed to customers in the sale price of cars after the cars were sold by issuing credit notes as authorized by rule 31 of karnataka value added tax rules, 2005 (hereinafter referred to as the kvat rules , for brevity) read with section 30 of karnataka value added tax act, 2003 (hereinafter referred to as the kvat act, for brevity), during the tax periods in 2006-2007 and 2007-2008. ..... lj337 wherein it was held that rule 31 was with regard to particulars of credit and debit notes which were to be furnished by registered dealers. ..... where a registered dealer has given a tax invoice in respect of a sale of goods and thereafter the goods or any part thereof are returned to the seller if the sale is cancelled or for any other reason, or the value of the sale is altered, whether due to a 5 discount or otherwise, he shall, subject to the provisions of section 30, give to the buying dealer a credit or debit note containing the following details, namely. ..... of credit and debit notes . ..... in fact, it is necessary to note that rule 3(2) (c) of the rules pertains to the discounts that can be allowed in terms of the regular practice whereas rule 31 is with regard to particulars of credit and debit notes which has to be furnished by the registered dealers as and when the credit notes are issued to the purchasers which would automatically result in variation in the amounts as stated in the invoices issued .....
Tag this Judgment!Court : Supreme Court of India
..... as common question of law and facts arise in this group of appeals and the issue is with respect to interpretation of section 70 of the karnataka value added tax act, 2003 (hereinafter referred to as the 1 kvat act, 2003 ), all these appeals are decided and disposed of together, by this common judgment and order.2. ..... a false tax invoice, credit or debit note, declaration, certificate or other document with a view to support or make any claim that a transaction of sale or purchase effected by him or any other dealer, is not liable to be taxed, or liable to tax at a lower rate, or that a deduction of input tax is available, the prescribed authority shall, on detecting such issue or production, direct the dealer issuing or producing such document to pay as penalty: (a) in the case of first such detection, three times the tax due in respect of such transaction or claim; and ..... even considering the intent of section 70 of the act, 2003, it can be seen that the itc can be claimed only on the genuine transactions of the sale and purchase and even as per section 70(2) if a dealer knowingly issues or produces a false tax invoice, credit or debit note, declaration, certificate or other document with a view to support or make any claim that a transaction of sale or purchase effected by him or any other dealer, is not liable to be taxed, or liable to take at a lower rate, or that a deduction of input tax is available, such a dealer is liable to pay the .....
Tag this Judgment!Court : Karnataka
..... to extract the impugned notification dated 29.4.2014 (annexure a) which reads as under; in exercise of the powers conferred under the first proviso to sub-section (1) of section 35 of the karnataka value added tax act, 2003, it is hereby notified with immediate effect that commencing from the tax period of may, 2014 every dealer, whose total turnover is fifty lakh rupees and above during tax periods of the year ending 31st day of march 2014 or whose cumulative total turnover is fifty lakh rupees ..... and above in the tax periods of any subsequent year, shall furnish electronically through internet, on or before 20th day of the succeeding month, the details of:- (i) purchase of goods made from within the state, in the course of inter-state trade or commerce and in the course of import into the territory of india including any debit notes or credit notes issued or received in respect of any change in the value or return of goods; (ii) receipt ..... way of purchase from, other registered dealers outside the state; -9- (iii) sale of goods made within the state, in the course of inter-state trade or commerce and in the course of export outside the territory of india including any debit notes or credit notes issued or received in respect of change in the value or return of goods; and (iv) transfer of goods otherwise than by way of sale to, other registered dealers outside the state, as mentioned in the annexures from i to x to this notification in .....
Tag this Judgment!Court : Karnataka
..... to extract the impugned notification dated 29.4.2014 (annexure -a) which reads as under; " in exercise of the powers conferred under the first proviso to sub-section (1) of section 35 of the karnataka value added tax act, 2003, it is hereby notified with immediate effect that commencing from the tax period of may 2014 every dealer, whose total turnover is fifty lakh rupees and above during tax periods of the year ending 31st day of march 2014 or whose cumulative total turnover is fifty lakh rupees ..... and above in the tax periods of any subsequent year, shall furnish electronically through internet, on or before 20th day of the succeeding month, the details of:- (i) purchase of goods made from within the state, in the course of inter-state trade or commerce and in the course of import into the territory of india including any debit notes or credit notes issued or received in respect of any change in the value or return of goods; (ii) receipt ..... by way of purchase from, other registered dealers outside the state; (iii) sale of goods made within the state, in the course of inter-state trade or commerce and in the course of export outside the territory of india including any debit notes or credit notes issued or received in respect of change in the value or return of goods; and (iv)transfer of goods otherwise than by way of sale to, other registered dealers outside the state, as mentioned in the annexures from i to x to this notification in .....
Tag this Judgment!Court : Karnataka
..... the appellant admitted the tax liability on such sales and offence under section 79 of the karnataka value added tax act, 2003 (hereinafter referred to as 'the kvat act', for brevity) was compounded under the provisions of section 82 of the kvat act. ..... (prayer: these appeals are filed under sec.66(1) of the karnataka value added tax act, 2003 against the order dated 6.2.2012 passed in n0.smr/kvat/dv0.4/cr. ..... (3) where the prescribed authoritu compounds an offence under this section, the order referred to in sub-section (1)- (a) shall be in writing and specify the offence committed, the sum of money to be paid and the due date for the payment; and (b) shall be served, on the dealer who commuted the offence: and (c) shall be final and not subject to any appeal; and (d) may be enforced in the same manner as a decree of a court for the payment of the amount stated in the order. ..... the submission of the learned counsel for the appellant is two fold: he firstly submitted that after the offences had been compounded under the provisions of section 82 of the kvat act, there was no occasion for the assessing authority to reassess the appellant for the aforesaid assessment periods. ..... at the time of inspection, it was reported that the appellant had effected certain sales through credit cards which were not reflected in the regular books of accounts. .....
Tag this Judgment!Court : Karnataka
..... the appellant admitted the tax liability on such sales and offence under section 79 of the karnataka value added tax act, 2003 (hereinafter referred to as the kvat act , for brevity) was 3 compounded under the provisions of section 82 of the kvat act. ..... respondent (by sri t.k.vedamurthy, hcgp) these appeals are filed under sec.66(1) of the karnataka value added tax act, 2003 against the order dated62.2012 passed in no.smr/kvat/dvo.4/cr.14/2011-12 on the file of the addl. ..... (3) where the prescribed authority compounds an offence under this section, the order referred to in sub-section (1)- (a) shall be in writing and specify the offence committed, the sum of money to be paid and the due date for the payment; and (b) shall be served on the dealer who committed the offence; and (c) shall be final and not subject to any appeal; and (d) may be enforced in the same manner as a decree of a court for the payment of the amount stated in the order. ..... the submission of the learned counsel for the appellant is two fold: he firstly submitted that after the offences had been compounded under the provisions of section 82 of the kvat act, there was no occasion for the assessing authority to reassess the appellant for the aforesaid assessment periods. ..... at the time of inspection, it was reported that the appellant had effected certain sales through credit cards which were not reflected in the regular books of accounts. .....
Tag this Judgment!Court : Supreme Court of India
..... the transaction under dispute is not specifically excluded, the assessees have sought to canvass that it does not satisfy the definition of sale under section 2(t) of the karnataka value added tax act, 2003. ..... m/s marudhara motors, jodhpur, (2010) 29 vst114 the learned single judge of the rajasthan high court considered the controversy under the 94 provisions of the rajasthan sales tax act, 1994 in the context of a dealer of automobiles receiving credit notes issued by the manufacturer for replacement of defective parts of the automobiles, supplied by the dealer under a warranty agreement between the manufacturer and the ultimate customers to whom vehicles were sold by the dealer (assessee) ..... , it cannot be said to have been totally accounted for and debited in manufacturer s taxable turnover of sales and purchase under vat/trade tax. ..... . a converse to the system of direct debit is the credit note issued by a buyer in favour of a seller which is a recompense or monetary benefit showed in the buyer ..... payment need not, however, be made in cash: a method of payment that enables the seller to obtain money such as the use by the buyer of a credit card or a debit card or digital cash or cheque or banker s draft or trading cheque also comes within the expression payment of price ..... . there can also be payment by direct debits to effect payment of goods supplied particularly when there are recurring payments of ..... seller can obtain through the banking system in direct debit forms to the buyer s bank .....
Tag this Judgment!Court : Karnataka
..... petitioner is questioning the re-assessment orders dated 06.05.2014 passed under section 39(2) read with sections 72(2) and 36/37 of the karnataka value added tax act, 2003 (for short 'kvat act') for the assessment years 2010-11 and 2011-12 - annexures-j and k respectively. 3. ..... it is also held by assessing officer that unless the tax invoice, debit note or credit note in relation to a sale has been issued in accordance with section 29 and same being in conformity with section 10(4) of the act, input tax credit claimed by assessee cannot be allowed. ..... perusal of the impugned orders would indicate that petitioner- assessee had claimed in put tax credit on the purchases made from m/s.krs coco products and m/s agro coconut products, tiptur and in respect of invoices for the periods indicated in the impugned orders, in respect of which input tax of rs.2,79,884/- and rs.7,600/- had been availed as credit and in the re- assessment proceedings, said transactions came to be verified by the assessing officer and found that supplying dealer had declared nil returns/declared local sales ..... hence, he submits that if an opportunity is extended to the petitioner, it would demonstrate before the assessing officer that documents produced and claim for input tax credit made is in conformity with the statutory provisions of kvat act namely, section 10(4) and section 29 of the act and petitioner would also discharge the burden cast on him under section 70 of the act. 6. .....
Tag this Judgment!Court : Karnataka
..... from the local registered dealers as well as the dealers from out side the state of karnataka and in respect of the tax paid by them on such purchases at the rate of 4% and 12.5%, they claimed this input tax credit (itc) against the output tax liability in respect of the sales made by it, in the said tax period and the term tax period is defined under section 2(33) of the kvat act, 2003 as defined under rule 37 of the karnataka value added tax rules, 2005, which in the case of present petitioners meant each calendar month as a ..... goods during june 2005, july 2005, december 2005 and february 2006 paying tax at 4% under the kvat act 2003 as claimed by the supplier, but subsequently, the supplier charged a higher rate of tax at 12.5% and raising a debit note on 31/07/2006 which the assessee paid as the differential tax amount to selling dealer and claimed the tax rebate of that amount of differential tax in the vat returns filed for the month of december 2006, and the division bench of this court allowed the said ..... claim of the assessee and rejected the revision petition filed by the state, by holding that once tax was paid under the kvat act, 2003, the assessee was entitled .....
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