Value Added Tax - Law Dictionary Search Results
Home Dictionary Name: value added tax Page: 4Tax stradle rule
Tax stradle rule, means the rule that a tax-payer may not defer on tax liability by investing a short-term capital gain in a commodities for future option i.e., investment vehicles whose values formerly did not have to be recorded at the end of the year, to create the appearance of a loss in the current tax year, Black's Law Dictionary, 7th Edn., p. 1475.Means good other than those specified in Sch. A. [West Bengal Value Added Tax Act, 2003, s. 2(47)]...
Out put tax
Out put tax, in relation to any period, means the aggregate amount of tax payable by a dealer liable to pay tax u/s. 10, s. 11, s. 12, s. 13, sub-s. (3) of s. 14, or sub-s. (3) of s. 24, or sub-s. (3) of s. 30 in respect of any sale, or purchase, of goods made by him in West Bengal. [The West Bengal Value Added Tax Act, 2003, s. 2(26)]...
Tax-free goods
Tax-free goods, means goods against which the rate of sales-tax is shown to be nil in the Schedule and 'taxable goods' means goods other than tax-free goods. [Maharashtra Value Added Tax Act, 2002, s. 2(30)]...
Input tax
Input tax, in relation to any period, means the amount of tax--(a) separately realised or realisable by registered dealer from a registered dealer in respect of purchases made by the latter dealer in West Bengal of taxable goods, other than such taxable goods as may be prescribed, required directly in connection with his business, or (b) paid or payable by a dealer (not being a shipper of jute) under section 11 or section 12 or section 14. [The West Bengal Value Added Tax Act, 2003, s. 2(18)]...
Tax Recovery Officer
Tax Recovery Officer, means a Tax Recovery Officer appointed by the State Government under sub-s. (4) of s. 55. [West Bengal Value Added Tax Act, 2003, s. 2(51)]...
Taxable turnover
Taxable turnover, 'taxable turnover' is defined in s. 2(s) of the Rajasthan Sales Tax Act, 1954 to mean that part of the 'turnover' which remains after deducting the aggregate amount of proceeds of certain categories of sales and 'turnover', according to s. 2(t), means 'the aggregate of the amount of sale prices received or receivable by a dealer in respect of the sale or supply of goods...', Hindustan Sugar Mills v. State of Rajasthan, AIR 1978 SC 1496 (1499): (1978) 4 SCC 271: (1979) 1 SCR 276.Means the turnover of all sales or purchases of a dealer during the prescribed period in any year, which remains after deducting thereform,(a) the turnover of sales not subject to tax under this Act,(b) the turnover of goods declared exempt under sub-s. (1) of s. 5 or under a notification under sub-s. (2) of s. 5, and(c) in case of turnover of sales in relation to works contract, the charges towards labour, service and other like charges, and subject to such manner as may be prescribed. [Gujara...
Tax invoice
Tax invoice, means an invoice in such form and containing such particulars as may be prescribed. [West Bengal Value Added Tax Act, 2003, s. 2(48)]...
Occupier
Occupier, includes, --(i) any person who for the time being is paying or is liable to pay to the owner the rent or any portion of the rent of the land or building in respect of which such rent is paid or is payable.(ii) an owner in occupation of or otherwise using his land or building.(iii) a rent-free tenant of any land or building, and(iv) any person who is liable to pay to the owner damages for the use and occupation of any land or building. [The Maharashtra Non-Biodegradable Garbage (Control) Act, 2006, s. 2(i)]Means a person who occupies a site or building within a zone and including his successors and assignees. [The Rajasthan Special Economic Zones Development Act, 2003, s. 2(h)]Occupier, of a jute-mill means the person who has ultimate control over the affairs of the jute-mill. [The West Bengal Value Added Tax Act, 2003, s. 2(25)]The person residing in or upon or having a right to reside in or upon any house, land, or place; formerly rateable to the poor rate under the Poor Rel...
Ensilage
The process of preserving fodder such as cornstalks rye oats millet etc by compressing it while green and fresh in a pit or vat called a silo where it is kept covered from the air as the ensilage of fodder...
Earlier law
Earlier law, means the Gujarat Sales Tax Act, 1969 (Guj. 1 of 1970) and the Gujarat Purchase Tax on Sugarcane Act, 1989 (Guj. 1 of 1989) as amended from time to time and enactment which have validated anything done or omitted to be done under the aforesaid Acts., the Gujarat Value Added Tax Act, 2003, s. 2(12)....
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