Income Tax : The issue with respect to tax treatment of interest earned out of the share application money deposited with a bank due to a statu...
Corporate Law : Section 56(2)(viib) was inserted via Finance Act, 2012. The objective of introducing the section was to deter the generation and u...
Corporate Law : The Facility Management (FM) industry is borne out as the means of providing maintenance support, user management and project mana...
Income Tax : This article will be beneficial for you in case you want information on taxation on foreign companies. The Finance Act 2015 amende...
Income Tax : Equalisation Levy was introduced in 2016 with the intention of taxing the digital transactions on certain non-residents businesses...
Fema / RBI : Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC) is ultra vi...
Taxguru has come up with Analysis of Indirect Tax Provisions of Union Budget 2016, Presented by Finance Minister Shri. Arun Jaitley on 29.02.2016 in Association with International Business Advisors (IBA). In our Analysis we have covered the following Topics :- 1. Amendment in Cenvat Credit Provision 2. Key Amendment in Service Tax Provisions 3. Key […]
The Finance Minister very clearly seems to have focused on empowering the ‘Make In India’ initiative by removing customs and excise duty exemptions on a variety of goods. The thrust seems to be more on electronics, hardware and the infrastructure industry where duty exemption has been provided to imported parts and components for manufacture of chargers/adapters, speakers
The Finance Minister rose to present his third budget by stating that the global economy is weak but India has done well. With a fiscal deficit target of not exceeding 3.5% as budgeted, the Finance Minister surely seems to have done his bit to make it happen. Considerable emphasis has been laid on boosting agriculture […]
Owing to various conflicting views that have been held by various courts across the country on the availability of CENVAT credit on the ‘passive telecom infrastructure of tower and shelter material’, there lies great confusion which needs to be addressed by the government of the day and settled the matter once and for all.
The CENVAT Credit Rules, 2004 (‘CCR’) have evolved as a scheme over a period of ten years. Through Rule 14 of CCR, the scheme provided for recovery of wrongly availed CENVAT Credit. As introduced, Rule 14 of CCR provided that where CENVAT credit is wrongly availed or utilized or has been erroneously refunded, the same […]
The expectations have steadily risen since the day Prime Minister Narendra Modi announced ‘Startup India, Standup India’ initiative. To add to it, release of action plan in January along with issuance of clarification by the Reserve Bank of India for the benefit of Startups is keeping the tempo up with a hope of final spectacle […]
We have discussed five issues faced by the foreign investors and the expectations from the Union Budget 2016-17. 4. TDS from payments to Non-residents having Indian branch/fixed place PE 5. Tax Residency Certificate
No law is perfect and no regime is ever complete which result in multitude of disputes and litigations. In order to make CENVAT Credit scheme better and effective, following are certain suggestions which the Revenue authorities should introspect.
With budget session being round the corner and it being susceptible to both national and international scrutiny, the need for streamlining adjudication machinery for Customs, Central Excise and Service Tax matters has become extremely important. Tax litigations are a natural consequence of growing economy. However, complexities of taxation laws and the sheer determination of the revenue department to maximize collections have resulted in multifarious but avoidable litigations all across the country.
Various e-commerce companies including the likes of Uber, Makemytrip, Zo Rooms etc are engaged in commercial transactions over the Internet. Customers transact in millions of rupees on these e-platforms where goods (i.e., merchandise) and services (i.e. digital products including travel, tickets, hotels etc) are conveniently bought and sold.
