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 : With Budget 2021 round the corner, there are discussions on what the FM has in store for the Taxpayers & one of the talks doin...
Income Tax : Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii) ...
Corporate Law : The government outlined year-wise collections and utilisation of major cesses and surcharges, confirming they are credited to the ...
Corporate Law : Press Information Bureau Government of India Ministry of Corporate Affairs 03-May-2016 17:48 IST CSR Spends on Swachh Bharat CESS ...
Service Tax : Swachh Bharat Cess will come into effect from 15th November 2015, at the rate of 0.5% on all services, which are presently liable ...
Excise Duty : The Central Government will impose a Swachh Bharat Cess on all or certain taxable services at a rate of 2% from a date to be notif...
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 ...
Income Tax : Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or ...
Goods and Services Tax : Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the As...
Service Tax : These rules may be called the Service Tax (Second Amendment) Rules, 2016. (a) in the Table B1 FOR SERVICE PROVIDER, after ...
Service Tax : Notification No. 05/2016 Service Tax In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994...
Service Tax : Notification No. 03/2016-Service Tax - Seeks to amend notification No. 39/2012- ST, dated the 20th June, 2012 so as to provide for...
Service Tax : Notification No. 02/2016-Service Tax (ba) the SEZ Unit or the Developer shall be entitled to- i. refund of the Swachh Bharat Cess...
Service Tax : Notification No. 01/2016-Service Tax Seeks to amend notification No. 41/2012- ST, dated the 29th June, 2012 so as to allow refund ...
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:
With Budget 2021 round the corner, there are discussions on what the FM has in store for the Taxpayers & one of the talks doing rounds is a COVID-19 Cess. So let’s have a brief overview of what and how exactly this concept of Cess works – 📍 Article 270 of the Constitution of India […]
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 […]
Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii) of the Income –tax Act provides that ‘any sum paid on account of any rate or tax levied on the profits or gains of any business or profession or assessed at a proportion of, or otherwise […]
