To facilitate foreign investment into the country a number of steps have been taken by Government of India in the past. Setting up an Authority for Advance Rulings (Central Excise, Customs & Service Tax) to give binding rulings, in advance, on Central Excise, Customs and Service Tax matters pertaining to an investment venture in India is one such measure. The legal provisions of Advance Rulings were introduced through the Finance Acts of 1998, 1999 and 2003.
Goods and Services Tax : Discover how the Odisha AAR allows ITC on exempt services where the supplier has charged GST. Understand conditions and implicatio...
Goods and Services Tax : Discover if penalties for contract breaches are subject to GST as ruled by AP-AAR. Learn how liquidated damages impact tax liabili...
Goods and Services Tax : 1. INTRODUCTION: ADVANCE RULING MECHANISM IN GST 1.1 The Advance Ruling is issued by tax authorities to companies/firms who reques...
Goods and Services Tax : Uttarakhand AAR clarifies that Uttarakhand Peyjal Sansadhan Vikas Evam Nirman Nigam, a governmental authority, qualifies for RCM e...
Goods and Services Tax : Gujarat AAR rules nominal deductions from employee salaries for canteen services are not a supply of services, allowing ITC claims...
Income Tax : This handbook aims to provide general guidance on the scheme of Advance Rulings under the Indian Income-tax Act, 1961 (the Act). I...
Income Tax : CBDT launches Boards for Advance Rulings in Delhi & Mumbai, providing tax clarity to investors and entities. Learn more about this...
Goods and Services Tax : New functionality to search for GST Advance Ruling Orders issued by Authority / Appellate Authority for Advance Ruling on GST Por...
Goods and Services Tax : Authority for Advance Ruling (AAR) constituted under the provisions of a SGST/ UTGST Act, in terms of the provisions of Section 96...
Goods and Services Tax : Revenue Bar Association has filed and Writ Petition in Madras High Court under Article 226 of the Constitution of India seeking a ...
Goods and Services Tax : Understand GST ITC eligibility on wires/cables & equipment for electricity transmission. Detailed analysis of Gujarat AAR ruling o...
Goods and Services Tax : The AAR Gujarat rules that nominal charges deducted for canteen services from employees salaries are not subject to GST. Learn mor...
Goods and Services Tax : Explore the GST AAR Gujarat ruling for Vijai Electricals Ltd., covering the applicability of GST on advance payments and the divis...
Goods and Services Tax : Explore the GST AAR ruling on Utkal Coal Mining India Pvt Ltd regarding transportation of coal from mines to railway siding. Learn...
Goods and Services Tax : Explore the GST AAR Odisha ruling on stamp duty and registration fees for mining leases in the case of Geeta Rani Mohanty. Read th...
Goods and Services Tax : Explore the constitution & members of the Advance Ruling Authority under Maharashtra VAT Act 2002. Detailed analysis on its implic...
Goods and Services Tax : Maharashtra Goods and Services Tax Authority makes changes in its lineup, appointing Shri. Ajaykumar Vaman Bonde as a member of Ad...
Income Tax : CBDT notifies e-advance rulings (Amendment) Scheme, 2023 which amend e-advance rulings Scheme, 2022. Amendments are related to Boa...
Goods and Services Tax : The Ministry of Finance, Department of Revenue, has issued Notification No. 02/2023 – Union Territory Tax on May 25, 2023. T...
Income Tax : F No. 189/3/2022-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, ...
Burmah Castrol vs. DIT Mumbai The applicant, Burmah Castrol Plc. is a non-resident company incorporated under the laws of England and Wales. The applicant submits that during the financial year 2001-02, as per the directive of SEBI, it acquired 12,77,292 equity shares of Foseco India Limited (hereinafter referred to as “FIL”), an Indian company, for an acquisition price of Rs. 221.86 per share and also as per those directives paid a further amount of Rs.49.1429per share for the delay in making the Open Offer.
Pooja Bhatt v. DCIT Income derived by the assessee-artist from the exercise of her activity in Canada is taxable only in source country i.e., Canada as per the scheme of taxation contained in the Indo-Canada Treaty; by using the expression “may be taxed in the other State” in Article 18(1) of the said Treaty, the contracting parties permitted only the other State i.e. State of income source and by implication, the State of residence was precluded from taxing such income.
The construction services used for construction of workers’ quarters within the factory premises, does not fall within the ambit of input services as defined in rule 2(1) of CENVAT Credit Rules, 2004 and consequently Applicant can not avail of the credit of such construction services in terms of rule 3 of the mentioned rules.
The Joint Venture can be treated as an association of persons (A.O.P.) in consonance with section 2(31)(v) read with the Explanation to section 2 of the Act and liable to be assessed as such under the Income-tax Act. All the partners of J.V. have joined in for common purpose on their own volition to produce income which is shared in certain ratio. The J.V. is to be taxed in the status of an association of persons @ 41% net basis.
In the Bank of India case, the Authority for Advance Ruling pointed out that the section levying MAT should be considered a self-contained code. It should prevail over the other provisions of the I-T Act. The Minimum Alternate Tax (MAT) has been in vogue intermittently for nearly 20 years. It has undergone several changes in structure. But the basic principle remains the same. The idea is that every company with ability to pay should contribute to the exchequer even though it may not show taxable income because of tax concessions and incentives utilised.
The author has made a critical analysis of the recent decision of the Kolkota Bench of the ITAT in Van Oord Atlanta B.V. 112 TTJ 229 and identified the important principles of law emerging therefrom. 1. 1. Factual Synopsis of the case 1.1 Van Oord Atlanta B.V. (‘Assessee’) a company incorporated in Netherlands and a resident of that country was accordingly treated as eligible to benefits of ‘DTAA’.
The Income-Tax Act extends to the whole of India, that is, the territory of India mentioned in the Constitution and the territorial waters, continental shelf, etc (Section 2(25A) of the Income-Tax Act, 1961). If two persons who are residing outside India and are not Indian citizens, enter into transactions covering property in India, will they be affected by the provisions of our tax law? This is not an academic issue. The matter came up before the Authority for Advance Ruling (AAR) last month.
In a ruling which could affect tax payments of thousands of employees of Indian IT companies earning mega bucks on overseas assignments, the Authority of Advance Rulings (AAR) has said that that there was no escape from paying tax on the amount earned during a stint with the employer’s foreign affiliates.
Assessee tried to take the benefit of the AAR of British Gas (I) Pvt Ltd….but seem to have failed..!!!! ! Income Tax – Assessee posted abroad for more than 182 days on deputation – DTAA – Income not taxed by the contracting state – Return filed and tax paid in India – Later contended that since he was non-resident during the FY, his income was not taxable in India – Since his income was not brought to tax in the contracting state, such income is taxable in India as the purpose of such bilateral treaties is to avoid double taxation and not to exempt income from taxation altogether – Assessee’s appeal dismissed
The Income Tax Department has moved the Supreme Court against the ruling by a quasi-judicial body which held that foreign firms are not liable to pay tax on assignment amount charged from their Indian subsidiaries if contracts are signed outside the country. The I-T department challenged the decision of Authority of Advance Ruling (AAR) in a case concerning Swiss firm Honeywell Technologies SARL, which had received a fee from Honeywell Turbo India for supplying equipment to Tata Motors.
