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.........................................................................................................................Book DescriptionThis book lists all the expressions defined in the VAT Acts and Rules of the States and Union Territories of India and the expressions defined in the Service Tax Act (Central) Finance Act (32 of 1994) and the rules made thereunder and their definitions. Judicial interpretations of such expressions are also given along with the definitions. Some expressions both in the VAT laws and the Service Tax law which the gist of the Judicial interpretation.VAT laws, though enacted by the different State legislature, are inspired by the decisions of the empowered Committee of the State Finance Ministers which is functioning to ensure a common approach regarding the rates of tax and exemptions for the different commodities. However, the different States continue to exercise their prerogative of having their own list of exempted goods and the list of goods falling under three rates of 1% 4% and 12.5%. There is also the list of commodities which are outside the VAT.Having decided on a common and consensual approach regarding rates and exemptions, the States could have agreed on common definitions of the expressions used so that disputes regarding the interpretation of the definitions of such expressions would be less. In fact model legislation was circulated but the states have chosen to draft the Acts and Rules each in its own way.The proposed publication makes it easy for those concerned with the task of amending the Acts and Rules administrators of the laws, and practitioner to easily refer to the different definitions of the same expression and the expressions not defined by one States but defined by others and comprehended the real import and scope of the expressions which would otherwise be a difficult task..........................................................................................................................Author DetailsThe Author did his graduation in economics and postgraduate degree in law at the Bombay University. After a long stint in the tax department in Mumbai he was admitted to the Maharashtra Bar in 1976 and has since been in private practice. He is a solicitor to the Supreme Court of England and Wales. Besides, he is an Associate of the Institute of Company Secretaries of India, a past Member of the Chartered Institute of Arbitrators, England.He was one of the visiting faculty at the Jamnalal Bajaj Institute of Management in early seventies and a visiting faculty at the Tata Institute of Management, Pune. He has participated in international seminars conducted by the Citibank and the Indian Investment Centre, London.He is the author of dictionary on Tax Laws (Direct Taxes). His other books include one on Mergers, Amalgamations and Takeovers and the other on Corporate Governace..........................................................................................................................
