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17th GST Council Meeting – Certain highlights


India is all set to embrace the new tax - Goods and Services Tax (GST) from 1st of July, 2017. The GST Council consisting of Finance Ministers of all the Indian States along with the Union Finance Minister, held its 17th meeting on 18-6-2017 to finalise certain Rules and proposals. The Council took several decisions including, relaxation in filing of Returns for th...

Reimbursement of salary not FTS under India-UK DTAA


29 May 2017

The assessee paid a sum towards salary expenditure to employees deputed for providing assistance in management, setting up of business and so on.

The AO treated it as FTS per the provision of India-UK DTAA and held that the company was liable for non-deduction of TDS.

Bombay High Court has on 3r...

Draft ICDS in respect of real-estate transaction


25 May 2017

In exercise of powers conferred in section 145(2) of Income-tax Act, 1961, Central Government had notified Income Computation and Disclosure Standards (‘ICDS’) vide Notification No. 87/2016 dated 29th September 2016.

The notified standards provided inter-alia, for recognition of revenue from construction contracts, s...

ITC on goods used in construction of silos, available


15 May 2017

Allahabad High Court has upheld the view of the Tribunal that input tax credit on MS Sheets utilized for construction of silo is available.

The Department had contended that ‘capital goods’, as defined under Section 2(f) of the Uttar Pradesh Value Added Tax Act, 2008, are goods that are movable in nature, and since s...

Valuation – Rejection of value when not sustainable


18 May 2017

Finding the reasons such as the importer had used the name of another firm to avoid sales tax, imports were made from trader and not from manufacturer, and the value declared was even less than the value of steel scrap, as not relatable to value of goods, CESTAT Delhi has allowed the appeal of the importer.

Similarly, the reason...

GST rates and 7 Rules approved by GST Council


25 May 2017

Schedule containing rates of GST for both goods and services and the revised draft of 7 procedural GST Rules have been placed by the CBEC in public domain.

These rules relating to Registration, Valuation, Input Tax Credit (ITC), Invoice, Composition and Refund along with the rates on more than 1200 goods and host of services, ha...

Manufacture – Cutting of old tyres to produce two or more pieces of cut-tyres is not manufacture


22 May 2017

Larger Bench of the Delhi High Court has answered in negative the question as to whether the process to which used and old tyres are subjected to produce two or more pieces of cut tyres is ‘manufacture’ within the meaning of Section 2(f) of the Central Excise Act, 1944.

Relying on Apex Court decision in the case of <...

GST Bills get President’s assent

17th April

President of India has granted his assent to the 4 GST Bills - Central Goods and Services Tax Bill (CGST Bill), Integrated GST Bill, UT GST Bill and the GST Compensation Bill, on 12th of April, 2017.

All the Bills were debated and discussed extensively by the GST Council comprising of Union Finance Minister and Finance Ministers of all t...

GST Bills introduced in Indian Parliament


28 March, 2017

Central Goods and Services Tax Bill (CGST Bill), Integrated Goods and Services Tax Bill (IGST Bill), Union Territory Goods and Services Tax Bill and Goods and Services Tax (Compensation to States) Bill, 2017 have been introduced in the Lok Sabha (lower house of the Indian Parliament) yesterday (27 March, 2017). The Bills are likely to be ta...

‘Manufacture’ under Central Excise law


21 March 2017

Customs, Excise and Service Tax Appellate Tribunal (CESTAT) recently delivered few decisions on one of the oldest questions in Central Excise law – whether a process amounts to ‘manufacture’. According to the decisions while conversion of paddy to rice and affixing of pre-cut glasses to frames do not amount to manufacture, ...

Goods used in process of service are integral to execution of service contract


21 March 2017

The issue before the Division Bench of the Delhi High Court was whether chemicals/ solvents used in the process of cleaning amounts to transfer of property in goods between the contractor and the contractee and thus exigible to tax. The petitioner, i.e. the contractor, was engaged in the business of providing services of maintenance, cleanin...

Voice Tab classifiable as telephone


21 March 2017

The issue for consideration was whether a Voice Tab named by the assessee as ‘HP Slate 6” Voice Tab’ is classifiable under CTH 8471 as an automatic data processing machine or under CTH 8517 as telephone for cellular network. 

Observing that the goods were capable of use both as a cellular telephone and a...

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