Custom Duty - CESS: It is a kind of tax collected by the Government for a specific purpose and it is levied until the purpose for which it is collected is fulfilled. It is considered as an additional tax imposed by Government other than the usual taxes and duties like Income Tax, Property Tax, Gift Tax, Sales Tax, […]...
Read MoreCustom Duty - 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 […]...
Read MoreCustom Duty - 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:...
Read MoreCustom Duty - 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 […]...
Read MoreCustom Duty - 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 […]...
Read MoreCustom Duty - Press Information Bureau Government of India Ministry of Corporate Affairs 03-May-2016 17:48 IST CSR Spends on Swachh Bharat CESS As per Union Budget 2016-2017, the estimated amount to be collected from Swachh Bharat Cess during the year 2016-17 is Rs. 10,000 crores. However, there is no proposal of the Government to mandate Corporates to...
Read MoreCustom Duty - Swachh Bharat Cess will come into effect from 15th November 2015, at the rate of 0.5% on all services, which are presently liable to service tax. This will translate into a tax of 50 paisa only on every one hundred rupees worth of taxable services. The proceeds from this cess will be used for financing and promoting Swachh Bharat initiati...
Read MoreCustom 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 notified. The Finance Minister Shri Arun Jaitley announced in his Budget Speech that the proceeds from this Cess would be utilized for Swachh Bharat initiatives. In a related development, the […]...
Read MoreInternational Seaport Dredging Pvt. Ltd Vs Commissioner of GST (CESTAT Chennai) - CESTAT set aside the impugned order pertaining to the rejection of refund of unutilized cenvat credit of Education Cess, SHEC and KKC...
Read MoreOverseas Polymers Private Limited Vs ACIT (ITAT Mumbai) - 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 ...
Read MoreAssistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) - Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the Assessee is entitled to utilise and set off the accumulated unutilised amount of Education Cess (EC), Secondary and Higher Education Cess (SHEC) and Krishi Kalyan Cess (KKC...
Read MoreAssistant commissioner of CGST and Central excise Vs. M/s Sutherland global services (Madras High Court) - Assistant commissioner of CGST and Central excise Vs. M/s Sutherland global services (Madras High Court) Madras High Court Division Bench stays order of single judge in Matter relating to transition of education cess, secondary and higher education cess and krishi Kalyan cess into the Gst regime. ...
Read MoreSutherland Global Services Private Limited Vs Assistant Commissioner CGST and Central Excise (Madras High Court) - Revenue has not made out any bar for the transitioning of EC, SHEC and KKC into the GST regime and the petitioner satisfies all conditions both under sub-section (1) and (8) of section 140. The embargo placed by Rule 3(7)(b) is long gone with the introduction of GST. Certainly the powers-that-be are...
Read MoreNotification No. 20/2016-Service Tax - (08/03/2016) - These rules may be called the Service Tax (Second Amendment) Rules, 2016. (a) in the Table B1 FOR SERVICE PROVIDER, after serial number B1.21 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely:-...
Read MoreNotification No. 05/2016-Service Tax - (17/02/2016) - Notification No. 05/2016 Service Tax In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), read with sub-section (5) of section 119 of the Finance Act, 2015 (20 of 2015), the Central Government, being satisfied that it is necessary in the public ...
Read MoreNotification No. 03/2016-Service Tax - (03/02/2016) - Notification No. 03/2016-Service Tax - Seeks to amend notification No. 39/2012- ST, dated the 20th June, 2012 so as to provide for rebate of Swachh Bharat Cess paid on all services, used in providing services exported in terms of rule 6A of the Service Tax Rules....
Read MoreNotification No. 02/2016-Service Tax - (03/02/2016) - Notification No. 02/2016-Service Tax (ba) the SEZ Unit or the Developer shall be entitled to- i. refund of the Swachh Bharat Cess paid on the specified services on which ab-initio exemption is admissible but not claimed; and ii. the refund of amount as determined by multiplying total service tax ...
Read MoreNotification No. 01/2016-Service Tax - (03/02/2016) - Notification No. 01/2016-Service Tax Seeks to amend notification No. 41/2012- ST, dated the 29th June, 2012 so as to allow refund of service tax on services used beyond the factory or any other place or premises of production or manufacture of the said goods for the export of the said goods and to i...
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International Seaport Dredging Pvt. Ltd Vs Commissioner of GST (CESTAT Chennai) -
Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) -
Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) -
Assistant commissioner of CGST and Central excise Vs. M/s Sutherland global services (Madras High Court) -