The Limited Liability Partnership Act, 2008

A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.

Read the complete act :Limited Liability Partnership Act, 2008

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How To Rectify DVAT 2A-2B Mismatch

What is form 2A & 2B

Form 2A contain the details of all local purchases made by a registered dealer during the period (quarter) & Form 2B contain the details of local Sales made by a registered dealer during the period (quarter).

Who is required to fill Form 2A & 2B

Every dealer who is registered under DVAT Act ’2004 except Banquet halls & person carrying on E commerce business (say.Flipkart,Snapdeal)

What is the content of Form 2A & Form 2B

Following details are required to be given in Form2A

1. TIN of Seller/Purchaser
2. Name of Seller/Purchaser(Autofilled)
3. Classification of goods (VAT Rate)
4. Invoice Amount

What is 2A & 2B mismatch.

• It can better be understand with the help of an illustration

Suppose Mr.A purchase goods from Mr.B
INVOICE
Value =Rs.1000
+VAT =Rs.50
Invoice Value =Rs.1,050
Now,
Mr.A in his form 2A wrongly shows
Purchase value = Rs.1100
   +VAT = Rs.55
   Invoice Value = Rs1155
&
Mr.B in his form 2B correctly shown the sales at
Value =Rs.1000
+VAT =Rs.50
Invoice Value =Rs.1,050
The difference in Vat value (Rs.55-Rs.50) Rs.5 is called as VAT Mismatch
What are the reasons of Mismatch
Following can be the reasons of mismatch

1. Entered incorrect TIN Number
2. Entered incorrect amount
3. Issuance of Retail invoice in place of Tax Invoice

Who receive notice of Mismatch

• Only Purchaser of Vatable goods receive notice from Department of Trade & Taxes
• Since ,It is the responsibility of the purchaser to provide correct information to the department as he is willing to claim Input Tax Credit against output VAT liability.
• If purchaser provide incorrect information at higher value then it will create additional VAT Liability to him only which is beneficial to Department.
• Practically , No notice is received nowadays , directly demand order received in Form 24 Specifying the amount of VAT & Interest and Form 24A specifying the amount of penalty

At what rate Interest would become payable by the dealer

• If the dealer fails to pay VAT demand within the time as may be specified in the demand order, then he shall be liable to pay Interest in addition to VAT payable at the rate of 1.25%per month of part of month.

Is it possible to waive off Interest in an appeal or otherwise

• No , Not at all

What is the amount of penalty that can be levied by VAT officer in respect of mismatch report

• Amount of penalty that can be levied on Dealer: Rs.10,000 or VAT demand whichever is higher.(Without Limit)

Is it possible to waive of Penalty

• Yes, It is possible to waive off penalty through an appeal made to Appellate Authority with 30 days from the date of order.

• If the dealer is aggrieved with the order passed by Appellate Authority then he can file second appeal to Sales Tax Appellate Tribunal

How to remove 2A-2B Demand & Penalty

• If the mismatch arise due to mistake in DVAT return then it can easily be rectified by revising the return either by Seller or by Purchaser, if the revise period is still available

• Payment of VAT as demanded in Form 24 (Demand order)

• Filing an appeal to Appellate Authority

(For DVAT Registration – Filing – Consultancy Author Can Be Reached At 8285910007 or  on sonuandfirm@gmail.com)

Click here to Read Other Article written by Sonu Mehla

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 November 20, 2014 - No comments

    

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INFRASTRUCTURE DEVELOPMENT IN INDIA

India in the 21st century is slowly modernizing itself and rapidly improving its economy. In fact, China and India are poised to be the next superpower axis in future. India has one of the largest population in the world, and it is increasing day by day.To meet the requirements of its citizens, massive infrastructure and technological innovation is being rolled out.

Out of the designated $500 billion in total infrastructure investment, one-third of the amount has been designated to roads, including a project to upgrade, rehabilitate, and widen major highways in India.The country’s 12th Five-Year plan, which runs from 2012 to 2017, will see the nation spending up-to $1 trillion on infrastructure.

Here are some infrastructural developments in India which have put the country on the world map

1. Mumbai’s Eastern Freeway – India’s second largest flyover 

Mumbai’s Eastern Freeway is a technological and engineering marvel and is the first phase of Mumbai’s Eastern Freeway from Orange gate to Panjarpol.

More than 25,000 vehicles are expected to ply the freeway daily. The Eastern Freeway elevated road will be the longest of its kind in the country. The bridge will have 313 pillars and 3,340 segments.

Mumbai’s Eastern Freeway

2. Double-Decker trains of the Indian Railways 

The Indian Railways are the lifeline of the Indian society. The Railways have been slowly introducing super-fast double-decker trains on many routes (depending on the demand).The much-awaited air-conditioned double Decker express train between Chennai and Bangalore started its run from April 25, 2013.

3. India’s first solar park at Charanka village in Gujarat 

The Indian state of Gujarat accounts for 66% of India’s total solar power energy. The first solar power came up at Charanka village in Gujarat in April 2012. The park at Charanka, spread across 5,000 acres, has 500 MW of generation capacity of both solar and wind energy.

4. Banihal-Qazigund rail link through India’s longest railway tunnel 

An 11-kml ong tunnel across the treacherous Pir Panjal mountain line in Jammu and Kashmir is the longest such transportation passage in India and second longest in Asia.

The 18-km long Banihal-Qazigund section of the ambitious mountain railway, connecting Kashmir Valley with Jammu region, is currently operational.

Banihal-Qazigund Rail

5. GIFT City in Gujarat 

GIFT city project spread over 885 acres is a state-of-the-art internal infrastructure with all basic urban infrastructure elements along with an excellent external connectivity by roads, metro rail and Bus Rapid Transport Service (BRTS).

6. Metro rail Projects in various cities 

Commuting and over-crowded public transport systems are a huge problem in metropolitan cities in India. However, after the success of the Delhi Metro, more and more Indian cities are seeing new Metro projects coming up. Metro services in Jaipur, Gurgaon and Mumbai are in the pipeline.

Rail bridge across Chenab River

7. World’s highest rail bridge across Chenab River

India aims to built the world’s highest rail bridge across Chenab river in Jammu and Kashmir by 2016. It will be a test for Indian engineers due to the difficulty of the project.

The arc shaped bridges will be five times the height of Qutab Minar at 359 m above the river bed and will connect the Indian cities of Baramulla and Srinagar in J&K.

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CustomizeMe Blogger Template (Helplogger Style)

CustomizeMe is a highly customizable Blogger template and SEO optimized to index your blog faster. It has been designed in a way that it can be easily customized according to your needs without having to touch the code of your template. All you need to do is to hit the "Customize" button and you are ready to start customizing your blog. Just try the template settings and be creative with the theme fonts, colors and backgrounds.

Some of the Template Features include:

- Both Flat and Grid Design
- Sticky/Fixed Left Navigation Menu Bar
- Customized Popular Post
- Recent Posts
- Recent Comments
- Page Numbering
- Expandable Search Bar
- Floating Social Bar Widget
- Author Bio with Image
- Related Posts with Thumbnails
- 404 Error Page 
- Seo friendly

DEMO HERE 
Download CustomizeMe Template
Template with Grid Style Only

How to install the CustomizeMe Template

1) Sign in to your Blogger blog and head to "Template"
2) Backup the current template by clicking the "Backup / Restore" button > "Download full template"

3) Download and open the CustomizeMe.xml file with a Notepad

4) Select all the code and to copy it to clipboard

5) Go again to Template and click the "Edit HTML" button

6) Select all the code of your current template and delete it, then paste the code that you just copied earlier
7) Preview your blog and if everything is ok, hit the 'Save Template' button.

Please note that this method might delete some of your widgets, so if you want to keep any of them, just Browse for the CustomizeMe.xml file (step 2) and click on the "Upload" button (ignore the rest of the steps).

And that's it! Now you are ready to use the CustomizeMe Blogger template.

Adding menu items

Go to Template > Edit HTML, click anywhere inside the code area and press the CTRL + F keys. Inside the search box, type "item 1" and hit Enter to find it - see the screenshot below

Change Item 1, 2, 3... with your page titles and replace "add-url-here" text with your url. Finally, click the "Save template" button to save the changes.

Recent Posts & Comments Widgets

Search (CTRL + F) for the following address and replace it with your own (you will find it twice and you must change it in both places):

http://helplogger.blogspot.com

Please pay attention to not have two forward slashes at the end of your address, otherwise the scripts will not be able to read the blog's feeds. Save your template after you have made these changes.

Enabling "About the author" profile

Go to "Layout" and click the "Edit" link of the "Blog posts" element. In the pop-up window that appears, check the "Show Author Profile Below Post" option and hit Save.

Changing colors and fonts in the CustomizeMe Template

Go to Template > click the "Customize" button. Here you can do lots of cool stuff, like change all the default fonts, text and background colors - basically, anything you want.

Some of the customizations that you can make:
Add a Background image: Background > Upload Image > Browse and hit Done

Change Fonts, Texts and Background Colors: go toAdvanced > select the Element that you want to customize > select your favorite colors and fonts.

To remove a color, just type "transparent" inside the text box as you can see in the above screenshot (4).

Once you're satisfied with the result, hit the "Apply to blog" button and view your blog. That's it!
Have fun customizing it ;)

(Author can be reached at By- Sonu Mehla Mobile- 8285910007 E-Mail- sonuandfirm@gmail.com)

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Your Destiny Is In Your Hands

Reap what you sow. One should plan the precious time to win his future and earn enough money and wealth. A farmer tills the soil, sows seeds and does all that is required for getting a good crop. Hard work yields knowledge, experience, and happy life. Ants and bees store the food through toil and time. Lazy and wayward student loses the future. One can wait, but time doesn’t.

Youth is the right period to learn and enjoy. During the old age, money and experience are found but cannot guarantee enjoyment. People are given the freedom to enjoy their interests.Those aligning with the right directions and making the right choices stand to taste the success.

Every situation throws up winners as well as losers. However with a change in the attitude, a person can turn the failure into victory. All successful people faced failures and flops, but they persisted to become legends. Failures actually give experience and determination to reach the success.Light shines surely after a dark tunnel. There is no history of continued failures. Life becomes boring and aimless if success becomes a routine.

Some vital tricks to reach the legitimate destinies are given here.

Seize the opportunities. Money lost can be regained,but not the time and opportunities. Plan well and take actions for moving in the right direction. Too much expectation results in failure and frustration.

Specialize in what you like the most. Of course, this requires a lot of courage and conviction. With sincerity and hard work, a person can overcome any hurdles to shape his desired career.

Save to protect. Habit of thrift enables a person to save for the future and any the exigency. This method is the best option to protect one’s family. Traditionally, people keep aside a part of their earnings as reserves to meet the unforeseen expenses like doctor fees, travel, etc..

Spend to invest. ‘Expenditure as Investment’ is the modern method used for creating wealth. Spend judiciously, that too against the future earnings. You wonder, how? Use the Credit card, Overdraft, Hire-purchase, or any other source of credit for your purchases  and pay the amount later from the actual income. Naturally, the first outgo from your pay packet or business income is towards the expenditure already incurred which is  the savings made in the past. Many people have a meticulous approach through which they could create the tangible assets by taking advantage of the credit card or EMI options.In short, Eat the Cake first and Pay later policy. But don’t overstretch your purse.

Insurance helps. It is a cost, not a liability, but an investment. Many people unnecessarily bother about their past and future. Instead, they should strive to live the present which is the only thing on hand and within control.  In fact,  both the past and future are like darkness only.

Worry is the darkroom in which the negatives are developed. It is an inner feeling to be discarded forthwith to ensure success in life. Destiny is an outcome of your actions only. Stop blaming others for your mistakes.

- See more at: http://taxguru.in/chartered-accountant/destiny-hands.html#sthash.FIqAXSvi.dpuf

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Consultancy related to ITR, PAN Card....

ncome Tax Return Consultant.

Provide consultancy related to Income Tax , Return filing, PAN Card, Audit etc.

Please Contact

Sonu Mehla

Mob:- 8285910007,

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