"28 July 2020" Archive - Page 2

Cestat referred issue of ST reverses charge on salary of seconded employee’s to Larger Bench

M/s Canon India Pvt Ltd Vs Commissioner, Goods & Service Tax (CESTAT Chandigarh)

M/s Canon India Pvt Ltd Vs Commissioner, Goods & Service Tax (CESTAT Chandigarh) The issue involved in the present case is in respect of levy of service tax on the amounts paid as salary to expats under the taxable category of Manpower Supply Services. With effect from 01.07.2012, the law as introduced by the way […]...

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Analysis of Rules for grant of Foreign Tax Credit

Computation of Foreign Tax Credit (‘FTC’) in case ofassessee’s with cross border payments has been a major hassle for tax professionals. Absence of well-defined set of rules, coupled with few judicial precedents had resulted in diversified practices. The Central Board of Direct Taxes (‘CBDT’) by Income-tax (18th Amendment) Rules...

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Posted Under: Service Tax |

Guide to meet TDS / TCS Obligations for deductor/Collector

What Is TDS/TCS? Generally the person who earns the income pays tax on such income either in the form of advance tax or in the form of self-assessment tax. However, in certain situations, the person making prescribed payments is required to deduct tax from such payments (at prescribed rates) and deposit the tax so deducted […]...

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How to Request re-issue of Income tax Refund?

Income Tax Refund cheque issued by CPC Bangalore Returned undelivered or not been credited due to wrong account info, expired cheque etc? Now days Assessee who file their Income tax Return online gets their refund cheque issued by CPC Bangalore. Refunds are issued by two modes:-...

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Digital Technology (DigiTech) & E-commerce Taxation

Digital Technology (DigiTech) & E-commerce Taxation Indian e-commerce and DigiTech industry have been grown to a new height in the past decade. We have seen exponential rise in the way people look at business and the modus operandi of managing a business. From high investments in space and layouts, people have diverted to high investm...

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Posted Under: Service Tax |

Advocacy as an Art

An advocate is to be honest and a man of integrity and character. An advocate who is straight forward and is possessed of these three jewels is appreciated by the court and the client alike. These three virtues go along way towards the success of an advocate....

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Posted Under: Service Tax |

Whether GST leviable on director’s remuneration or not?

Analysis on applicability of GST on Director remuneration on Reverse charge basis (i.e. Whether GST will be paid by company or body corporate to which director is providing such services or not) As per provisions of schedule III to the CGST Act, 2017, activities/ transactions which shall not be treated as supply of goods or […]...

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Posted Under: Service Tax |

New norms for registration of Trusts and Issues

Introduction There is sea change in provisions relating to registration of trusts. Finance Act 2020 has set out norms for registration of Trusts. This article discusses these new norms in context of: 1. Trusts registered under old regime 2. Provisional registration of new trusts 3. Final registration of provisionally registered trusts 4. ...

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Posted Under: Service Tax |

Section 80GG: Deduction in respect of Rent Paid

Section 80GG of Income Tax Act, 1961 (Deduction in respect of Rent Paid) According to Section 80GG an individual can claim deduction of expenditure incurred in respect of furnished or unfurnished accommodation occupied by such individual for the purpose of his/her own residence to the extent as allowed by income tax department subject to ...

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Posted Under: Service Tax |

CESTAT explains exercise of Option under Cenvat Credit Rule 6(3)(i)

Tata Steel Ltd. Vs CCEx. & S.Tax (CESTAT Kolkata)

The issue under consideration is whether the appellant, Tata Steel, was entitled to avail option under Rule 6(3)(ii) of the Cenvat Credit Rules?...

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