DTA

A discussion on Deferred tax asset and Deferred tax liability

Income Tax - Background- There are differences in profit calculated by a business entity in its books and income calculated as per income tax act. We pay tax as per income calculated as per income tax act. There are 2 types of differences- 1) Permanent differences These are differences between our accounting income and taxable income that originate [&...

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IGST refunds DTA vs SEZ transactions

Income Tax - The article primarily deals with the procurements made by the SEZ units from the DTA suppliers and the tax ability thereon. It contains a summarized procedure for availing supplies at zero rate of tax by the SEZ units and also discusses the refund mechanisms available in the hands of the supplier. ...

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No third time cess payable on DTA clearances from EOU to DTA

Income Tax -  The Larger Bench of the Hon’ble Tribunal has held that no third time cess is payable on clearance from an Export Oriented Unit (EOU) to the Domestic Tariff Area Unit (DTA), which is subject matter of litigation for long now....

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India-Mauritius DTAA amended to tackle round tripping of funds

Income Tax - Revised Protocol will tackle the long pending issues of treaty abuse and round tripping of funds attributed to the India-Mauritius treaty, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius....

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Domestic tariff area (DTA) units could use SEZ facilities

Income Tax - To help special economic zones (SEZs) absorb global economic shocks, the government plans to allow them to make available their excess installed capacities for the use of industrial consumers in the domestic tariff area (DTA). The idea is to ensure that industrial capacities built up in SEZs don’t remain idle in case another global slow...

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Goods cleared in DTA without permission should be charged to excise duty under main Section 3 and not under the proviso

Commissioner of Central Excise Vs M/s Ncc Blue water Products Ltd. (Supreme Court of India) - Challenge in this batch of appeals filed by the revenue under Section 35(L)(b) of the Central Excise Act, 1944 (for short “the Act”) is to the orders passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zone (for short “the Tribunal”), inter alia, holding that the duty of ...

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India-Mauritius DTAA amended to tackle round tripping of funds

NA - (10/05/2016) - Revised Protocol will tackle the long pending issues of treaty abuse and round tripping of funds attributed to the India-Mauritius treaty, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius....

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Valuation of Goods cleared in DTA by EOU’s.- Circular No 933 /23 /2010-CX

Circular No. 933/23/2010-CX - (16/08/2010) - In such cases 100% of the goods are cleared from the EOU to depot from where the sale is effected through consignment agents. CBEC has earlier issued Circular No 268/85-CX.8 dated 29. 09.1994, clarifying that valuation of goods in such situations will have to be done in accordance with the Rule 8 o...

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Recent Posts in "DTA"

A discussion on Deferred tax asset and Deferred tax liability

Background- There are differences in profit calculated by a business entity in its books and income calculated as per income tax act. We pay tax as per income calculated as per income tax act. There are 2 types of differences- 1) Permanent differences These are differences between our accounting income and taxable income that originate [&...

Read More
Posted Under: Income Tax |

IGST refunds DTA vs SEZ transactions

The article primarily deals with the procurements made by the SEZ units from the DTA suppliers and the tax ability thereon. It contains a summarized procedure for availing supplies at zero rate of tax by the SEZ units and also discusses the refund mechanisms available in the hands of the supplier. ...

Read More
Posted Under: Income Tax |

India-Mauritius DTAA amended to tackle round tripping of funds

NA (10/05/2016)

Revised Protocol will tackle the long pending issues of treaty abuse and round tripping of funds attributed to the India-Mauritius treaty, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius....

Read More

No third time cess payable on DTA clearances from EOU to DTA

 The Larger Bench of the Hon’ble Tribunal has held that no third time cess is payable on clearance from an Export Oriented Unit (EOU) to the Domestic Tariff Area Unit (DTA), which is subject matter of litigation for long now....

Read More
Posted Under: Income Tax |

Goods cleared in DTA without permission should be charged to excise duty under main Section 3 and not under the proviso

Commissioner of Central Excise Vs M/s Ncc Blue water Products Ltd. (Supreme Court of India)

Challenge in this batch of appeals filed by the revenue under Section 35(L)(b) of the Central Excise Act, 1944 (for short “the Act”) is to the orders passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zone (for short “the Tribunal”), inter alia, holding that the duty of Central Excise on shrimps and shrimp see...

Read More

Valuation of Goods cleared in DTA by EOU’s.- Circular No 933 /23 /2010-CX

Circular No. 933/23/2010-CX (16/08/2010)

In such cases 100% of the goods are cleared from the EOU to depot from where the sale is effected through consignment agents. CBEC has earlier issued Circular No 268/85-CX.8 dated 29. 09.1994, clarifying that valuation of goods in such situations will have to be done in accordance with the Rule 8 of the Customs Valuation Rule (Determinat...

Read More

Domestic tariff area (DTA) units could use SEZ facilities

To help special economic zones (SEZs) absorb global economic shocks, the government plans to allow them to make available their excess installed capacities for the use of industrial consumers in the domestic tariff area (DTA). The idea is to ensure that industrial capacities built up in SEZs don’t remain idle in case another global slow...

Read More
Posted Under: Income Tax |

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