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Archive: 05 July 2015

Posts in 05 July 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7173 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Payment made by ONGC to foreign countries for rendering of services is assessable U/s. 44BB and not U/s. 44D

July 5, 2015 1936 Views 0 comment Print

Whether the amounts paid by the ONGC to the non-resident assessees /foreign companies for providing various services in connection with prospecting, extraction or production of mineral oil is chargeable to tax as fees for technical services under Section 44D read with Explanation 2 to Section 9(1)(vii) of the Income Tax Act

Central Govt. agencies in agreement with foreign companies are not entitled to exemption of surtax

July 5, 2015 966 Views 0 comment Print

Whether certain govt. agencies (ONGC) in agreement with foreign companies would entitle for the exemption of surtax under notification no. GSR 307 (E) dated 3.1983.

Goods and Service tax [GST] – A Broad Overview

July 5, 2015 26388 Views 0 comment Print

The Constitution (122nd Amendment) Bill, 2014 was introduced in the Lok Sabha on December 19, 2014 by the MoF which seeks to amend the Constitution to introduce GST. GST is a simplified indirect tax structure, wherein tax paid on goods/services procured by one person at one stage can be availed as credit while passing on the goods/services to the next stage, until they reach the final consumer who bears incidence of tax.

Domestic Transfer Pricing – The Current Scenario

July 5, 2015 2198 Views 0 comment Print

Transfer Pricing is the setting of the price for goods and services sold between controlled/related legal entities. It is generally aimed at depicting favourable performance of a conglomerate by shifting earnings from a high tax jurisdiction to a low-tax one.

CENVAT credit foregone is compliance of Rule 6(3) of CENVAT credit rules

July 5, 2015 4703 Views 0 comment Print

In view of the retrospective amendment introduced by Finance Act, 2010, the appellant were entitled to reverse the proportionate cenvat credit attributable to the quantum of input services used in or in relation to manufacture of exempted final product and by foregoing this credit

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