Corporate Updates 16 May 2014


DVAT authorities has issued instructions to all Dealers who are selling goods to Embassies / High Commission / International Organisations that the department is going to issue refund online to Embassies / High Commission/International Organisations by matching DVAT-23 with 2B of selling dealers. Therefore, while issuing retail / tax invoices to such organisation, selling dealers are required to mention TIN No(s) on retail/tax invoices issued to them and failing which there will be mismatch and selling dealers shall be liable to pay tax, interest and penalty for mismatch.


While proposing certain measures towards consumer protection such as non-levy of penal charges for non-maintenance of minimum balance in any inoperative accounts it was advised to banks that no charge should be levied for non-operation/activation of Basic Savings Bank Deposit Accounts. It is further advised that henceforth banks are not permitted to levy penal charges for non-maintenance of minimum balances in any inoperative account. To view and download and notification, please Click Here.

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