"07 January 2020" Archive - Page 2

Service of interconnectivity between two points for transferring of data or its transmission cannot be held as OIDAR service

Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore)

Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore) The appellants, Philips Electronics India Ltd. are a 100% EOU (Software Technology Park Unit) are engaged in developing and export of software. No part of the output services are rendered to any client in India. The appellants have entered into various agreem...

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No Service Tax on Value of Spare parts on which Sales Tax already been paid

M/s. Novotron Broadband (P) Ltd. Vs Commissioner of GST & ST (CESTAT Chennai)

M/s. Novotron Broadband (P) Ltd. Vs Commissioner of GST & ST (CESTAT Chennai) The issue is with regard to demand of differential service tax on the value obtained is including value of the materials used in rendering Repairs and Maintenance Service. In M/s. Safety Retreading Co. (P) Ltd., (supra) the said issue has been decided, [&hel...

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No Service Tax on VSAT (Very Small Aperture Terminal) fee

Manipal Universal Learning Pvt. Limited Vs Commissioner of Central Excise (CESTAT Bangalore)

Manipal Universal Learning Pvt. Limited Vs The Commissioner of Central Excise (CESTAT Bangalore) Brief issues that require consideration in this case or as to Whether VSAT (Very Small Aperture Terminal) fee (both one-time fee for supply of goods and actual usage charges) charged for supply of VSAT equipment is liable for service tax under...

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Controversies Revolving around the Rule 36(4) of CGST Rules !

Although the provisions of Rule 36(4), Central Goods and Services Tax Rules, 2017 have been made applicable from 09th October 2019, the gravity of complexity involved in application of the said Rule will have its floor test while filing the GSTR 3B return for the month of November 2019....

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Posted Under: Service Tax |

Roll out of New GST Returns

CBDT began the new year by introducing the Formats of ITR 1 & 4 even before the Financial Year ended. Then why should their counterpart stay back ! So the CBIC as well has began it’s task towards the roll out of new GST Returns in this year in terms of the decisions of the […]...

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Posted Under: Service Tax |

Interest Subvention: Interest Or Service?

This paper will analyse various types of loan agreements entered that are now being entered into, and the tax liability of these loans. It will focus specifically on interest subvention and how it should be categorised for tax purposes, with more focus on the automobile industry, given the recent judgements and jurisprudence....

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Posted Under: Service Tax |

Compile and share various favourable Court orders pertaining to GST

Notification No. F.No. 275/65/2013-CX.8A(Pt.) (07/01/2020)

The undersigned has been directed to state that the petitions against various provisions of GST are being filed throughout the country, and hence it becomes imperative that any order/judgment in favour of Revenue may be disseminated to the field so that same may be considered while filing any affidavit before the Hon’ble Courts....

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CA Final November 2019 Exam Result on 17.01.2020

Results of the Chartered Accountants Final Examination (Old course & New Course) held in November 2019 are likely to be declared on Thursday, the 16th January, 2020 (evening) / Friday, the 17th January 2020. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA [Set up by an Act of Parliament] January 7, 2020 IMPORTANT ANNOUNCEMENT The resu...

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Posted Under: Service Tax |

Whether Inaugural Expenses Deductible Under Section 37 (1)

Many times reference has been sought regarding the question whether inaugural expenses incurred by a person are deductible under section 37(1) or not while computing the profits & gains from business or profession (of that person)....

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Posted Under: Service Tax |

TDS on Foreign Payment for Event to be held outside India

As per section 195(1) of Income Tax Act, any person responsible to for paying to a non-resident, not being a company, or to a foreign company, any interest or any other sum chargeable to tax shall, at the time of credit of such income or at the time of payment, whichever is earlier, deduct income-tax thereon at the rates as applicable....

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Posted Under: Service Tax |