Custom Duty : Should Cess and Surcharge Be Permanent? Explore the history and purpose of Cess and its impact on taxes and duties....
Income Tax : Clarification regarding treatment of cess and surcharge Section 40 of the Act specifies the amounts which shall not be deducted in...
Goods and Services Tax : As GST sought to consolidate multiple taxes into one it was very essential to have transitional provisions to ensure that the tran...
Income Tax : Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii) ...
Goods and Services Tax : Whether the Respondent is entitled to carry forward the accumulated unutilized amount of EC, SHEC and KKC to be utilized against t...
Corporate Law : The government outlined year-wise collections and utilisation of major cesses and surcharges, confirming they are credited to the ...
Goods and Services Tax : The court examined whether unutilized cess credits could be refunded after GST transition. It held that without explicit statutory...
Service Tax : CESTAT Mumbai held that accumulated credit of Education Cess, SHE Cess, and KKC cannot be transitioned or refunded because these l...
Service Tax : CESTAT Kolkata held that notification no. 41/2012-ST grants refund of service tax paid on the taxable services used for export of ...
Service Tax : CESTAT set aside the impugned order pertaining to the rejection of refund of unutilized cenvat credit of Education Cess, SHEC and ...
Service Tax : Explore the CESTAT Chandigarh ruling in Schlumberger Asia Services Ltd. vs. Commissioner of CE & ST on the timeliness of a refund ...
Service Tax : Central Government, hereby exempts taxable services with respect to which the invoice for the service has been issued on or befor...
Service Tax : (7E) The person liable for paying the service tax under sub-rule (7), (7A), (7B) or (7C) of rule 6, shall have the option to pay s...
Service Tax : the SEZ Unit or the Developer shall be entitled to refund of- (i) the service tax paid on the specified services on which ab-ini...
Service Tax : The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) by notificati...
Service Tax : Provided that Krishi Kalyan Cess shall be leviable only on that percentage of taxable value which is specified in column (3) for t...
The court examined whether unutilized cess credits could be refunded after GST transition. It held that without explicit statutory backing, refund claims are not maintainable, leading to dismissal of the petition.
CESTAT Mumbai held that accumulated credit of Education Cess, SHE Cess, and KKC cannot be transitioned or refunded because these levies were not subsumed under the GST regime.
The government outlined year-wise collections and utilisation of major cesses and surcharges, confirming they are credited to the Consolidated Fund and used for designated development and welfare purposes.
CESTAT Kolkata held that notification no. 41/2012-ST grants refund of service tax paid on the taxable services used for export of goods. The said refund includes refund of Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) too.
Should Cess and Surcharge Be Permanent? Explore the history and purpose of Cess and its impact on taxes and duties.
CESTAT set aside the impugned order pertaining to the rejection of refund of unutilized cenvat credit of Education Cess, SHEC and KKC
Clarification regarding treatment of cess and surcharge Section 40 of the Act specifies the amounts which shall not be deducted in computing the income chargeable under the head “Profits and gains of business or profession”. Sub-clause (ii) of clause (a) of section 40 of the Act provides that any sum paid on account of any […]
As GST sought to consolidate multiple taxes into one it was very essential to have transitional provisions to ensure that the transition to the GST regime is very smooth and hassle free and no ITC (input tax credit)/benefits earned in the existing regime are lost. The transition provisions can be categorized under three heads:
Explore the CESTAT Chandigarh ruling in Schlumberger Asia Services Ltd. vs. Commissioner of CE & ST on the timeliness of a refund claim post-GST regime changes. Insightful analysis for businesses navigating GST transitions.
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’, but then there was no reference to […]
