Value Added Tax - Law Dictionary Search Results
Home Dictionary Name: value added tax Page 1 of about 77 results (0.003 seconds)value-added tax
value-added tax : a tax levied at each addition of value in the processing of a raw material, the performance of a service, or the production and distribution of a commodity with each payer except the consumer reimbursed from payment at the next stage called also VAT ...
VAT
VAT : value-added tax ...
Value added tax
Value added tax. A tax assessed at each step in the production of a commodity, based on the value added at each step by difference between the commodity's production cost and its selling price, Black's Law Dictionary, 7th Edn., p. 1472...
Salary or wages
Salary or wages, means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include--(i) any other allowance which the employee is for the time being entitled to;(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles.(iii) any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for t...
Tax
Tax [fr. tasg, Wel.; taxe, Fr. and Dut.], an impost; a tribute imposed on the subject; an excise; tallage.A monetary charge imposed by government on persons, entities or properly to yield public revenue, Black's Law Dictionary, 7th Edn., p. 1469.Some general principles of taxation have been said to be:-(1) The subjects of every State ought to contribute to the support of the Government as nearly as possible in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the State. In the observation or neglect of this maxim consists what is called the equality or inequality of taxation.(2) The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of payment, the manner of payment, the quality to be paid, ought all to be clear and plain to the contributor, and to every other person.(3) Every tax ought to be levied at the time, or in the manner, in which it is most likely to be co...
Sale price
Sale price, 'Sale Price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods at the time of or before the delivery thereof other than the cost of freight or delivery of the cost of installation in case where such cost is separately charged and the expression 'purchase price' shall be construed accordingly, Shree Gopal Industries Ltd. v. State of Rajasthan, AIR 1971 SC 2054: (1971) 2 SCC 532.(ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is no provision in the Act from which it can be gathered that the Act imposes any liability on the purchaser to pay the tax imposed on the dealer. If the dealer passes on his tax burden to his purchasers he can only do it by au...
Manufacture
Manufacture, implies a change but every change is not manufacture. But something more is necessary and there must be transformation, a new and different article must emerge having a distinctive name, character or use, Hindustan Poles Corporation v. Commissioner of Central Excise, (2006) 4 SCC 85: (2006) 4 JT 185: (2006) 3 SCALE 601: (2006) 4 SLT 445: (2006) 3 SCJ 645: (2006) 6 SCJ D 230: (2006) 145 STC 625: (2006) 196 ELT 400.Manufacture, implies a change, but every change is not manufacture and yet every change of an article is the result of treatment, labour and manipulation. But something more is necessary and there must be transformation; a new and different article must emerge having a distinctive name, character or use, Union of India v. Delhi Cloth and General Mills, AIR 1963 SC 791.Implies a change, but every change is not manufacture and yet every change of an article is the result of treatment, labour and manipulation. But something more is necessary and there must be transfo...
Tribunal
Tribunal, includes, within its ambit, all adjudicating bodies, provided they are constituted by the State and are invested with judicial, as distinguished from purely administrative or executive functions, Durga Shankar Mehta v. Thakur Raghuraj Singh, AIR 1954 SC 520: 1954 SCJ 723: (1954) 2 Mad LJ 385.Tribunal, labour court is not a tribunal, State of Assam v. Harizon Union, AIR 1967 SC 442: (1967) 30 FJR 354.Means a court or other adjudicating body, Black's Law Dictionary, 7th Edn., p. 1512.Means the Maharashtra Sales Tax Tribunal constituted under s. 11. [Maharashtra Value Added Tax Act, 2002, s. 2(31)]Means the Registrar or, as the case may be, the Appellate Board, before which the proceeding concerned is pending. [Trade Marks Act, 1999 (47 of 1999), s. 2(1)(ze)]1. A court or other adjudicatory body 2. The seat, bench or place where a judge set, Black's Law Dictionary, 7th Edn.The seat of a judge; a Court of justice.As defined by s. 2(r) of the Industrial Disputes Act, 1947, as amen...
Year
Year, means a period commencing on 1st April and ending on 31st March next following. [Rajasthan Public Libraries Act, 2006, s. 2(t)]Means a year commencing on 1st day of April. [Equity Linked Savings Scheme, 2005, s. 2(g)][fr. gear, Sax.], 365 days, twelve calendar months, fifty-two weeks and one day, or in Leap Year (q.v.) 366 days, i.e., fifty-two weeks and two days.The first day of the year was legally altered for England from the 25th of March to 1st of January in and after 1752 by the Calendar (New Style) Act, 1750 (24 Geo. 2, c. 23) (Chitty's Statutes, tit. ' Time '), but as appears from the preamble to that statute, the 1st of January had been the first day of the year in Scotland, in other nations, and by ' common usage throughout the whole kingdom.' See CALENDAR generally, when a statute speaks of a year it must be considered as twelve calendar and not lunar months, Bishop of Peterborough v. Catesby, 1608 Cro Jac 166.For the termination of the statutory year for certain finan...
Place of business
Place of business, includes a warehouse godown or other place where a dealer stores his goods and any place where the dealer keeps his books of accounts. [Maharashtra Value Added Tax Act, 2002, s. 2(18)]Place of business, includes--(i) in any case where a dealer carries on business through an agent by (whatever name called), the place of business of such agent;(ii) a warehouse, godown or other place where a dealer stores his goods; and(iii) a place where a dealer keeps his books of account. [Central Sales Tax Act, 1956 (74 of 1956), s. 2 (dd)]Place of business, means any place where a dealer carries on business and includes:(a) a warehouse, godown or other place where a dealer stores or processes his goods;(b) any place where a dealer produces or manufactures goods;(c) any place where a dealer keeps his book of account,(d) any vehicle or vessel or any other carrier where in the goods are stored or used for transporting the goods;(e) any place of business of any agent by whatever name c...
- << Prev.
- Next >>