https://www.taxtmi.com/article/detailed?id=6573 The Odisha VAT Amendment 2015 raises turnover thresholds and expands composition eligibility, establishes joint and several VAT liability between contractors and subcontractors with proportionate payment rules and rebuttable proof of tax payment, caps input tax credit to tax actually paid requiring buyer verification, abolishes pre-issuance registration inquiry in favour of electronic registration, empowers authorities to demand security and cancel registration after hearing, reforms audit and assessment procedures including an assessment-in-lieu regime with fixed penalties and extended time limits, and revises refund and appellate timeframes. en-us Fri, 11 Dec 2015 17:18:06 +0530 Fri, 11 Dec 2015 17:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6573 The Odisha VAT Amendment 2015 raises turnover thresholds and expands composition eligibility, establishes joint and several VAT liability between contractors and subcontractors with proportionate payment rules and rebuttable proof of tax payment, caps input tax credit to tax actually paid requiring buyer verification, abolishes pre-issuance registration inquiry in favour of electronic registration, empowers authorities to demand security and cancel registration after hearing, reforms audit and assessment procedures including an assessment-in-lieu regime with fixed penalties and extended time limits, and revises refund and appellate timeframes. Articles Value Added Tax - VAT and CST Fri, 11 Dec 2015 17:18:06 +0530 https://www.taxtmi.com/article/detailed?id=6573