cess

Is Sport Cess a Need of time?

Income Tax - Is Sport Cess a Need of time? I am feeling the same as all Indian are feeling after getting 7 medals including First Gold medal in the history of athletics in Olympics happened in Tokyo, Japan Just few weeks ago still when every Indian like me See the medal table then one thought comes to […]...

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Education ‘cess’ is a deductible Expenditure: Mumbai High court

Income Tax - Whether, for section Section 40(a)(ii), word ‘cess’ would be labeled as a ‘tax’ and hence accordingly, will not be allowed business expenditure....

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Deduction of Health & Education Cess from Taxable Income

Income Tax - Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii)  of the Income –tax Act provides that  ‘any sum paid on account of any rate or tax levied on the profits or gains of any business or profession or assessed at a proportion of, or otherwise […]...

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Cess: An allowable expenditure?

Income Tax - It is a well settled principle that ‘Income-tax’ of a taxpayer is a not an allowable business expenditure. However, whether the ‘Income-tax’ payable by the taxpayer also includes ‘Cess’ or does not include such ‘Cess’ is a matter of debate....

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Infrastructure Cess (IC) on Motor cars & other motor vehicle

Income Tax - The Union Government in the Finance Bill, 2016 imposed a new Cess as a duty of excise to be called “Infrastructure Cess”. The Infrastructure Cess has been levied on certain goods specified in the Eleventh Schedule of the Finance Act, 2...

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Highlights of 43rd GST Council meeting held on 12th October 2020

Income Tax - Highlights of 43rd GST Council meeting held on 12th October 2020 which was continuation of earlier meeting Today’s meeting was a continuation of the 42nd GST Council meeting, to discuss one agenda item, namely no. 9A. Finance Minister Smt. Nirmala Sitharaman has chaired the GST Council meeting via video conferencing in the presence ...

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Government mulling levy of small cess on natural gas

Income Tax - The government is mulling levy of small cess on natural gas to fund construction of national gas highway network even as it plans to extend LPG reach to rural areas and launch smart cards for kerosene. Petroleum minister Murli Deora discussed the idea of levy of $0.20 per million British thermal unit as cess on […]...

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Education cess, not an allowable deduction: ITAT Kolkata

Kanoria Chemicals & Industries Ltd. Vs Addl. CIT (ITAT Kolkata) - An additional surcharge, to be called the Education Cess to finance the Government’s commitment to universalise quality basic education, is proposed to be levied at the rate of two per cent on the amount of tax deducted or advance tax paid, inclusive of surcharge....

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ITAT deletes Section 14A disallowance made without recording Satisfaction

Asian Paints Ltd Vs Add. CIT (ITAT Mumbai) - Asian Paints Ltd Vs ACIT (ITAT Mumbai) We have considered rival submissions in the light of decisions relied upon and perused material on record. Undisputedly, the assessee in its computation of income has computed disallowance under section 14A of the Act at Rs.23,98,769 by applying certain princip...

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Education & secondary higher education cess not disallowable

Honeywell Technology Solutions Lab Pvt. Ltd. Vs DCIT (ITAT Bangalore) - Honeywell Technology Solutions Lab Pvt. Ltd. Vs DCIT (ITAT Bangalore) We respectfully following the aforesaid judgment of the Honable High Court of Bombay in the case of Sesa Gold Limited (supra), therein conclude that ‘Education Cess’ and the Secondary and Higher Education Cess is not d...

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Cess allowable in computation of Income from Business or Profession

Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) - Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or tax levied’ on ‘profits and gains of business or profession’ shall not be deducted in computing the income chargeable under the head ‘profits and ...

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Education cess paid on Income Tax & surcharge eligible for section 37(1) deduction

Nirpan Securities Pvt. Ltd. Vs ACIT (ITAT Mumbai) - Nirpan Securities Pvt. Ltd. Vs ACIT (ITAT Mumbai) We find that the issue in dispute herein is squarely covered by the decision of the Hon’ble Jurisdictional High Court in the case of Sesa Goa Ltd., vs. JCIT reported in 117 Taxmann.com 96 wherein the Hon’ble High Court had categorically held that...

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IGST & Compensation Cess exemption on goods imported against AA/EPCG

Notification No. 23/2021-Customs [G.S.R. 232(E).] - (31/03/2021) - Seeks to extend the exemption from Integrated Tax and Compensation Cess upto 31.03.2022 on goods imported against AA/EPCG authorizations vide Notification No. 23/2021-Customs dated 31st March, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 31st March, 2021 Notification No. 23/2021-...

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GST Exemption on intra-State supplies of second hand goods- Reg.

Notification No. 04/2017-Compensation Cess (Rate) [G.S.R. 938(E)] - (20/07/2017) - Government hereby exempts intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods and who pays the goods and services tax compensation cess on the value of outward supply of such second hand goods as determined under sub-rule (5) ...

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Central Excise circular 921/10- Leviability of Education Cess and Higher Education Cess on the Stainless Steel Patta Patti or Aluminium Circles units working under compound levy scheme

Circular No. 921/11/2010- Central Excise - (10/05/2010) - References have been received from field formations on the issue of levy of Education Cess and higher Education Cess on the Central Excise duty determined under Notification No. 17/2007-CE dated 1-3-2007 under compound levy scheme on S.S. Patta/Patti and Aluminium Circles....

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Excise circular on Beedi cess payable under the provisions of Section 3 of Beedi Workmen Welfare Cess Act

Circular No. 914/04/2010- Central Excise - (16/02/2010) - References have been received from Trade & Industry as well as field formations, regarding leviability of beedi cess on labelled as well as unlabelled beedis. It has been stated that Notification No. S-23011/1/79-M.V. dated 19.12.1981[G.S.R. No.669(E)] as amended by [G.S.R. No. 281(E)] dated 30.03.8...

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Circular on Levy of cess on sugar manufactured out of cess paid raw material/ input

Circular No. 883/03/2009- Central Excise - (26/02/2009) - The Sugar Cess Act, 1982 provides that There shall be levied and collected as a cess, for the purposes of the Sugar Development Fund Act, 1982, a duty of excise on all sugar produced by any sugar factory in India for the development of sugar industry. References have been received from some field fo...

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Recent Posts in "cess"

Education cess, not an allowable deduction: ITAT Kolkata

Kanoria Chemicals & Industries Ltd. Vs Addl. CIT (ITAT Kolkata)

An additional surcharge, to be called the Education Cess to finance the Government’s commitment to universalise quality basic education, is proposed to be levied at the rate of two per cent on the amount of tax deducted or advance tax paid, inclusive of surcharge....

Read More

Is Sport Cess a Need of time?

Is Sport Cess a Need of time? I am feeling the same as all Indian are feeling after getting 7 medals including First Gold medal in the history of athletics in Olympics happened in Tokyo, Japan Just few weeks ago still when every Indian like me See the medal table then one thought comes to […]...

Read More
Posted Under: Excise Duty |

IGST & Compensation Cess exemption on goods imported against AA/EPCG

Notification No. 23/2021-Customs [G.S.R. 232(E).] 31/03/2021

Seeks to extend the exemption from Integrated Tax and Compensation Cess upto 31.03.2022 on goods imported against AA/EPCG authorizations vide Notification No. 23/2021-Customs dated 31st March, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 31st March, 2021 Notification No. 23/2021-Customs G.S.R. 232(E).—In exercise of ...

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ITAT deletes Section 14A disallowance made without recording Satisfaction

Asian Paints Ltd Vs Add. CIT (ITAT Mumbai)

Asian Paints Ltd Vs ACIT (ITAT Mumbai) We have considered rival submissions in the light of decisions relied upon and perused material on record. Undisputedly, the assessee in its computation of income has computed disallowance under section 14A of the Act at Rs.23,98,769 by applying certain principles of apportionment. Therefore, it is n...

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Education ‘cess’ is a deductible Expenditure: Mumbai High court

Whether, for section Section 40(a)(ii), word ‘cess’ would be labeled as a ‘tax’ and hence accordingly, will not be allowed business expenditure....

Read More
Posted Under: Excise Duty |

Education & secondary higher education cess not disallowable

Honeywell Technology Solutions Lab Pvt. Ltd. Vs DCIT (ITAT Bangalore)

Honeywell Technology Solutions Lab Pvt. Ltd. Vs DCIT (ITAT Bangalore) We respectfully following the aforesaid judgment of the Honable High Court of Bombay in the case of Sesa Gold Limited (supra), therein conclude that ‘Education Cess’ and the Secondary and Higher Education Cess is not disallowable as a deduction u/s 40(a)(ii)...

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Cess allowable in computation of Income from Business or Profession

Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai)

Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or tax levied’ on ‘profits and gains of business or profession’ shall not be deducted in computing the income chargeable under the head ‘profits and gains of business or profession’, ...

Read More

Deduction of Health & Education Cess from Taxable Income

Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii)  of the Income –tax Act provides that  ‘any sum paid on account of any rate or tax levied on the profits or gains of any business or profession or assessed at a proportion of, or otherwise […]...

Read More
Posted Under: Excise Duty |

Education cess paid on Income Tax & surcharge eligible for section 37(1) deduction

Nirpan Securities Pvt. Ltd. Vs ACIT (ITAT Mumbai)

Nirpan Securities Pvt. Ltd. Vs ACIT (ITAT Mumbai) We find that the issue in dispute herein is squarely covered by the decision of the Hon’ble Jurisdictional High Court in the case of Sesa Goa Ltd., vs. JCIT reported in 117 Taxmann.com 96 wherein the Hon’ble High Court had categorically held that education cess paid on […]...

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ITC of Education Cess, SHEC & KKC cannot be claimed against GST: HC

Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court)

Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the Assessee is entitled to utilise and set off the accumulated unutilised amount of Education Cess (EC), Secondary and Higher Education Cess (SHEC) and Krishi Kalyan Cess (KKC), all jointly referred to as the “...

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