No TDS was required to be made because payment of commission are made to non-resident overseas agent. As such no income is arising to the non-resident agent in India. So, no TDS is deductible u/s 194H of the Act, which is applicable for resident Indians only, even the provisions of section 195 is not applicable as payments are made to non-resident overseas agents for the services rendered outside India.
Input service distribution is a facility granted to a manufacturer/service provider who operates from a number of premises. There is no restriction under the CENVAT Credit Rules, 2004, with regard to the period for availing CENVAT credit of service tax paid. In other words, a manufacturer/input service provider can avail CENVAT credit of the service tax paid irrespective of any time limitation. The only condition to be satisfied is that they should have paid the service tax prior to availing the credit.
Please find below chart depicting the liability of Service Receiver & Service Provider under Reverse Charge Mechanism in very precise and simplified manner. It shall be very handy in day to day working of professionals under industry.
This Articles explains Procedure for VAT / CST / PT Registration in Maharashtra and also documents required for Registration. Articles also contain format of Related Forms and NOC to be submitted with Sales Tax Authorities.
While consolidating different items under Appendices certain errors have been noticed in terms of Sr. No., Product Description etc. These errors are being rectified. Secondly, due to harmonization of ITC (HS) Codes, new Codes with description have been mentioned which would be eligible for incentives under Appendix 37A & 37D.
In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14 and Paragraph 1.1 of the Handbook of Procedures (Vol.1), the Directorate General of Foreign Trade hereby modifies the existing SION No.A 2337 by correcting the typing error in the description of import item “Hydrocal Cement”. Earlier, it was typed as “Hydrocol Cement” and it is now being corrected to read as “Hydrocal Cement.
Law is well-settled that in cases where the company court sells the properties in accordance with various provisions of the Companies Act and the Rules framed thereunder, such sale can be interfered with only in cases where there is a total irregularity or the sale is effected against the provisions of the Companies Act or the Rules framed thereunder. On the factual matrix, it is not the case of the appellant that there has been any irregularity or the sale has been effected in gross violation of the provisions of the Companies Act. T
On consideration of the entire materials on record, we, therefore, find substance in the contention of the learned counsel for the petitioners that the impugned amendment is violative for its retrospective operation in order to overcome the decision of the Tribunal, and at the same time, for depriving the benefit earlier granted to a class of the assessees whose assessments were still pending although such benefit will be available to the assessees whose assessments have already been concluded.
It is an admitted fact that the appellants are liable to pay service tax under Works Contract services with effect from 1-6-2007 and the appellants did not get themselves registered with the service tax department from 1-6-2007. The ground taken by the appellants is that they were not aware of the fact that they are liable to pay service tax under works’ contract with effect from 1-6-2007 is not sustainable, as ignorance of law is not an excuse.
The Central Board of Direct Taxes (CBDT) on Thursday said it has reduced the time period for tax refunds to three months and would take steps to release arrear payment as fast as possible.
