Service Tax : Despite doing away with the service-specific descriptions, there will be some descriptions where some differential treatment will ...
Income Tax : The Parliament has passed the the Competition (Amendment) Bill, 2009 which is to replace the Competition (Amendment) Ordinance, 20...
Income Tax : The government is likely to seek the Cabinet’s approval on amending the Competition Act 2002 to facilitate the winding up of the...
Income Tax : After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on th...
Income Tax : The Bombay High Court held that reassessment proceedings became time-barred because no reassessment order was passed within the li...
Service Tax : Profit arising from purchase and sale of cargo space by a freight forwarder on principal-to-principal basis was trading income and...
Service Tax : CESTAT Chandigarh held that the Air Travel Agents are not required to pay Service Tax on the Commission received by them from CDS/...
Company Law : The tribunal held that mere suspicion or possibility of fraud without supporting evidence cannot justify action under Section 66 o...
Company Law : Supreme Court held that section 66 of the Companies Act, 2013 doesn’t require mandatory obtaining or circulating of formal valua...
Service Tax : Notification No. 43/2009-Service Tax Whereas the Central Government is satisfied that a practice was generally prevalent regarding...
Service Tax : Notification No. 33/2009 - Service Tax Central Government hereby exempts the taxable service provided to any person in relation to...
Income Tax : That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts...
Despite doing away with the service-specific descriptions, there will be some descriptions where some differential treatment will be available to a service or a class of services. Section 66F lays down the principles of interpretation of specified descriptions of services and bundled services. But before going on to Section 66F, let us understand what Service […]
The Parliament has passed the the Competition (Amendment) Bill, 2009 which is to replace the Competition (Amendment) Ordinance, 2009 and to further amend section 66 of the Competition Act, 2002. Rajya Sabha passed it today, while the Lok Sabha had already considered and passed it on 14th December, 2009.
Notification No. 43/2009-Service Tax Whereas the Central Government is satisfied that a practice was generally prevalent regarding levy of service tax ( including non-levy thereof ), under section 66 of the Finance Act, 1994 ( 32 of 1994) (hereinafter referred to as the Finance Act), on taxable service namely ‘business auxiliary services’ specified in sub-clause (zzb) of clause 105 of section 65 of the Finance Act provided by a person ( hereinafter called the ‘service provider’) to any other person ( hereinafter called the ‘service receiver’) during the course of manufacture or processing of alcoholic beverages by the service provider, for or on behalf of the service receiver, and that such services being a taxable service were liable to service tax under the said sub-clause (zzb) of clause 105 of section 65 of the Finance Act with effect from 1 st day of September 2009, which was not being levied according to the said practice during the period commencing from the 1 st day of September, 2009 and ending with the 22nd day of September, 2009;
The government is likely to seek the Cabinet’s approval on amending the Competition Act 2002 to facilitate the winding up of the Monopolistic and Restrictive Trade Practices Commission before 2011. The Bill will essentially replace the ordinance issued in October this year. The ordinance was to allow winding up the MRTPC at the earliest against 2011 as specified in the Competition Act.
After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on the discussion table of the Ministry of Corporate Affairs (MCA). The Ministry is planning to hold a meeting with the new anti-monopoly watchdog the Competition Commission of India (CCI) and the stakeholders in the first week of December to discuss the M&A clauses – Sections 5 and 6 – that are yet to be notified, official sources told to leading business newspaper.
Notification No. 33/2009 – Service Tax Central Government hereby exempts the taxable service provided to any person in relation to transport of goods by rail, as referred to in sub-clause (zzzp) of clause (105) of section 65 of the Finance Act, from the whole of the service tax leviable thereon under section 66 of the Finance Act, provided, nothing contained in this notification shall apply to any service provided or to be provided, by any person other than government railway, in relation to transport of goods in containers by rail.
T.K. Jayaraman, Technical Member. – This appeal has been filed against the Adjudication Order No. 15/2007 (VR), dated 17-5-2007 passed by the Commissioner of Central Excise & Customs, Visakhapatnam-II Commissionerate. 2. Shri MSV Prasad, the learned Advocate, appeared on behalf of the appellants and Ms. Sudha Koka, the learned SDR for the revenue.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.
