https://www.taxtmi.com/news?id=5037 Delhi revised VAT rules raising the registration threshold, imposing a uniform quarterly tax period and requiring all dealers to remit net tax within a short post-monthly interval. Import sales will be taxed on the higher of sale consideration or customs valuation. Leasing firms may claim input tax credit in four equal annual portions. Composition scheme access is restricted where separate schemes exist, altering works contractors' tax options. Reporting obligations expanded to entry-wise debit/credit details, online pre-entry reporting of inward consignments for large dealers, annual stock and central declaration reconciliations, and enhanced audit and penalty provisions. en-us Thu, 04 Apr 2013 12:26:56 +0530 Thu, 04 Apr 2013 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=5037 Delhi revised VAT rules raising the registration threshold, imposing a uniform quarterly tax period and requiring all dealers to remit net tax within a short post-monthly interval. Import sales will be taxed on the higher of sale consideration or customs valuation. Leasing firms may claim input tax credit in four equal annual portions. Composition scheme access is restricted where separate schemes exist, altering works contractors' tax options. Reporting obligations expanded to entry-wise debit/credit details, online pre-entry reporting of inward consignments for large dealers, annual stock and central declaration reconciliations, and enhanced audit and penalty provisions. News - Thu, 04 Apr 2013 12:26:56 +0530 https://www.taxtmi.com/news?id=5037