Income Tax : Family disputes and consequential family partition and family arrangements are not new in Indian history. Since ages, the human ci...
Income Tax : There is a never ending debate on whether software related payment made by a resident to a foreign recipient is in the nature of R...
Income Tax : Whether or not the royalty/fees for technical services is taxable in India in the hands of the non-resident, will depend on provis...
Income Tax : The term ‘demerger’ simply means one company transferring one or more of its business operations into another company(s). The ...
Income Tax : The concept of Permanent Establishment is one of the most important concepts in International Taxation. The existence of a Permane...
Amendments by Finance Act, 2011 to withdraw exemption from MAT & Dividend Distribution Tax to SEZ developers/units are not unconstitutional. In the impugned amendment it is made clear that it is prospective in nature. Therefore the impugned amendments can neither be said unreasonable or arbitrary.
Government needs funds for various purposes like maintenance of law and order, defence, social & health services etc. Government obtains funds from various sources, out for which one main source is taxation. Taxes are conventionally broadly classified as Direct Taxes and Indirect Taxes.
The Central Board of Excise and Customs (CBEC) has notified the procedure, safeguards, conditions and limitations for claiming refund of unutilised Cenvat credit taken on inputs and input services during the half-year for which it is claimed, for providing the services of renting of a motor vehicle designed to carry passengers on the non-abated value to any person who is not engaged in a similar business, supply of personnel for any purpose or security services or service portion in the execution of a works contract.
The term drawback is applied to a certain amount of duties of Customs and Central Excise, sometimes the whole, sometimes only a part remitted or paid by Government on the exportation of the commodities on which they were levied.
India has steadily streamlined its central indirect tax regime over the last 30 years. The law has increasingly become simpler and easier to interpret and administer. Central indirect tax laws in India, at the central level, provide various avenues for resolution of tax disputes/litigations.
High Sea Sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas or after their dispatch from the port/airport of origin and before their arrival at the port/ airport of destination. An High Sea Sales contract/ agreement should be signed after dispatch of goods from origin & prior to their arrival at destination.
The export oriented units are entitled to full reimbursement of central sales tax paid by them on purchase from domestic tariff area units, when goods are used by them for production of finished goods meant for export. Accordingly, reimbursement of central sales tax on inputs used in goods meant for domestic tariff area sale by export oriented units is not admissible.
In recent past DGFT has given its clarification on under mentioned topics i.e. 1. CENVAT Credit availed by deemed exporters vide Circular No. 9 (Re-2013)/2009-14, dated 30th Oct, 2013. 2. Actual inputs utilised in the manufacture of export products vide Notification No. 48 (RE-2013)/ 2009-14, dated 30th Oct, 2013.
The higher education and school education are exempt from service tax since the inception of the old service tax regime. For example, under the business auxiliary service head, activity of job work in relation to education was exempt, under the commercial coaching or training services, pre-school coaching/training or any educational qualification recognised by law was exempt; under outdoor catering service head, service relating to mid day meal scheme for school were exempt ;
Service tax was introduced vide the Finance Act, 1994 and since then the same has undergone with various changes and modifications in its growth from infancy to literal maturity. Service Tax has maintained the notorious trait and over time has evolved a web of complex and confusing provisions.
