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Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
M/s Sasken Communication v. Joint Commissioner, Commercial Taxes & Ors (Karnataka High Court) The contract for development of software in question are not works contract but contract for service simplicitor and hence not liable to tax under the Karnataka Value Added Tax Act, 2003. The contract for development of software is not a composite contract consisting of a contract of service and contract for sale of goods. It is an indivisible contract of service only.
The ITAT held that the payments for services rendered with regard to reassembling and recommissioning of machinery in India under the Indian Tax Laws (ITL) and the India-Italy Double Taxation Avoidance Agreement (DTAA), would be excluded from fees for technical services (FTS) under the DTAA since the same were in the nature of business profits.
G.S.R 977 (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 97/2009-Customs, dated the 11th September, 2009, publi
Effective 07 December, 2010, the rate of VAT in Meghalaya has been enhanced, as mentioned below: Goods falling under Schedule II and liable to tax at 4% Rate up to 6 December, 2010 – 4% Rate with effect from 7 December, 2010 – 5% Source- No.ERTS (T) 12/2010/30,dated 07 December, 2010
S. O… (E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in
The Supreme Court last week dismissed the appeal of Parle Bisleri Ltd challenging the ruling against it by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in an excise dispute over its soft drink flavours and the use of their brand names. Apart from Parle Bisleri, two others involved were Parle Exports Ltd and Parle International Ltd. Parle Bisleri claimed excise benefits as a small scale industry in the 1990’s. The claim was rejected by the tribunal. It appealed to the Supreme Court, which stated that the tribunal was right in denying the benefit by clubbing the products of the three companies. The court said: “the three companies in question were intertwined in their operation and management… It would likely seem that the purported fragmentation of the manufacturing process was but a mere ploy to avail of the SSI exemption. Piercing the corporate veil, when the notions of beneficial ownership and interdependency come into the picture, are no longer disputed questions. On this count, therefore, we have no hesitation whatsoever in affirming the order of the tribunal,which was justified entirely through the precedent set by this court.”
In exercise of the powers conferred under Paragraphs 2.1, 2.4 and 2.29 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby allocates a total quantity of 8,200 MTs of Raw Sugar, H.S. Code No. 1701 00 00 { in the Schedule 2 of ITC(HS) Classification of Export & Import Items}(at 98 degree Pol) out of non-levy(free sale) quota of 2010-2011(October, 2010 to September,2011).
Mobile phones, being an integral part of our lives have gone beyond the use of just calling or sending SMS. This mobile application is another convenient feature on the mobile that makes your tax calculation and planning simpler, even while you are
Sh. Sachin Pilot, the Minister of State for Communications and Information Technology held a meeting with officers of the Department of Information Technology, the Ministry of Home Affairs, Indian Computer Emergency Response Team (CERT-In), National
The Prime Minister has reaffirmed the Government’s commitment to providing an enabling environment conducive to the growth of the corporate sector in our country. Inaugurating here today the second India Corporate Week, being organized by the Ministr
