Tuesday, December 28, 2010

Statutory filings under Indirect Taxation for the month of January, 2011

Income Tax Act, 1961Remittance of TDS & TCS On or before 7th January, 2011
Filing of TDS & TCS returnsOn or before 15th January, 2011
Issue of TDS & TCS Certificates for the 3rd QuarterOn or before 30th January, 2011
Central Excise Act, 1944Remittance of duty by all type of units except SSIs in challan no. GAR- 7On or before 5th January, 2011
Filing of monthly return by all type of units except SSIs  in Form No. ER 1On or before 10th January, 2011
Filing of monthly returns by all types of units for CENVAT credits availed  - Form No. ER 1On or before 10th January, 2011
Remittance of duty by SSIs in challan no. GAR- 7On or before 15th January, 2011
Filing of monthly returns by SSI/EOU/FTZ/SEZ in Form No.ER 2On or before 10th January, 2011
Filing of monthly returns by all units for receipt & consumption of inputs out of PLA where excise duty exceeding Rs. One crore in a year - Form No. ER 6On or before 10th January, 2011
Karnataka VAT ActRemittance of sales tax for the month of December, 2010On or before 20th January, 2011

Sunday, December 26, 2010

Service Tax on renting of electricity meters

The Service Department has issued circular regarding a doubt on whether the renting on electricity meter installed on consumers premises by a service provider, is covered by the exemption under notification no. 11/2010 dated 27th February, 2010 and/or  32/2010 dated 22nd June, 2010.

On examination of the matter, the Department is of the opinion that the electricity meter is installed to determine the amount of electricity consumed by the consumer and has direct and close nexus with the transmission and distribution of electricity. Hence the same is covered under the exemption extended by the relevant notifications.

Service Tax Notification – Exemption to certain schemes of general insurance

The Government has via notification no. 58/2010 dated 21st December, 2010 granted exemption to general insurance business from levy of service tax under section 66 of the Finance Act, 1994 provided the said insurance scheme has been approved by the Government of India under the Weather Based Corp Insurance Scheme or the Modified National Agricultural Insurance Scheme and implemented by the Ministry of Agriculture.

Friday, December 24, 2010

Intimation of annual holidays

All factories covered under the Factories Act are required to intimate the list of annual holidays for the year 2011 to the Inspector of Factories on or before 31st December, 2010.

All industrial establishments in the state of Karnataka are required to display and submit the list of holidays (as per the Karnataka Industrial Establishment (National & Festival holidays) Act) that will be observed in the establishment during the year 2011 on or before 31st December, 2010.

Monday, December 20, 2010

Due dates for Statutory Compliances - January, 2011

ActParticularsDue date
EPF ActPay P.F.Deductions for the month of December, 2010On or before 15th January, 2011
EPF ActSubmit monthly return for the month of December, 2010 in Form 5 (along with Form 2, 10, 12 & 12A)On or before 25th January, 2011
EPF Act (in respect of international workers)Submit monthly statement (for the month of December, 2010) IW-1 relating to details of Employyes qualifying for membership as International workers along with Form 5 (for unexempted) /Form 4 PS (for exempted)On or before 15th January, 2011
ESI ActMake ESI payments for the month of December, 2010On or before 21st January, 2011
Karnataka Labour Welfare Fund Act, 1965Pay Welfare Fund contributions and submit statement in Form "D"On or before 15th January, 2011
Karnataka Labour Welfare Fund Act, 1965Transfer unpaid accumulations and fines to the Welfare CommissionerOn or before 15th January, 2011
Employment Exchange (Compulsory Notification of Vacancies) Act, 1959Submit quarterly Return in Form ER - 1On or before 31st January, 2011
Karnataka Shops and Establishments Act, 1961Submit combined Annual Return in Form UOn or before 31st January, 2011
Karnataka Factories Rules, 1969Submit Form 20 - Annual ReturnOn or before 31st January, 2011
Minimum Wages Act, 1948Submit Annual Return in Form III under Rule 22(4) of Karnataka Minimum Wages Rules, 1958On or before 31st January, 2011
Maternity Benefit Act, 1961Submit Form K, L & MOn or before 31st January, 2011
Professional TaxSubmit Form 5  and pay Tax deducted from employees' salary/wagesOn or before 20th January, 2011
Service TaxPayment of Service Tax for the month of December, 2010On or before 5th January, 2011
Water Cess Act & RulesPay Water Cess and submit return for the month of December, 2010On or before 5th January, 2011

Monday, December 6, 2010

Sales Tax Audit, Sales Tax Assessment and Annual Return Filing

STATEDUE DATE FOR FILINGPERSON ELIGIBLE TO
CONDUCT THE AUDIT
Annaul ReturnAudit Report
Karnataka31st December, 201031st December, 2010Chartered Accountant
Tamil NaduNot ApplicableNot ApplicableNot Applicable
Andhra Pradesh31st December, 2010Not ApplicableNot Applicable
Kerala31st December, 201031st December, 2010Chartered Accountant
Uttar Pradesh31st January 201131st January 2011Chartered Accountant
Maharashtra31st January 2011Not ApplicableChartered Accountant
Delhi30th November, 2010Not ApplicableNot Applicable
Punjab30th November, 201030th November, 2010Chartered Accountant
Himachal Pradesh30th September, 2010Not ApplicableNot Applicable
OrissaNot Applicable30th September, 2010Chartered Accountant
Haryana30th November, 2010Not ApplicableNot Applicable
Assam30th November, 201030th November, 2010Any Authorised Person