By Shivam Mehta and K. Prathiba
Valuation under Central Excise law has always been one of the areas of dispute and it has again been brought to the fore front of discussions with the recent decision of the Supreme Court in the case of Super Synotex (India) Ltd and Others. In this case, the issue of inclusion of a part of the sales tax amount collected and retained by the manufacturer as allow...
By Shweta Kathuria
Rule 7 of the Cenvat Credit Rules [‘Credit Rules’ for short] relating to distribution of credit by an Input Service Distributor (“ISD”) has always been a problem area of the Credit Rules. Ever since the inception of this concept, it has always been surrounded by doubts and confusions. To understand the issues, let us first understand the concept of ISD. This concept was fir...
By Geetika Srivastava
As rightly quoted by Ralph Waldo Emerson – “For every benefit you receive a tax is levied”. Taxes are now being levied on many transactions. However, education has always remained tax free. Our tax statutes have always spared education provided at primary and secondary levels. Under service tax law such benefit has been extended to even vocational t...
By Iype Mathew
One of the special features of the negative list based service tax regime, introduced with effect from 1st July, 2012, is the introduction of the concept of declared services (Section 66E of the Finance Act, 1994). Declared services, which are actually described in 9 serial entries, are required to be treated as ‘service’ for the purposes of the Finance Ac...
By Chetan Agrawal & Tushar Aggarwal
The Supreme Court in the case of Larsen & Toubro Limited & Anr v. State of Karnataka & Anr.[ see end note 1] (hereafter referred to as ‘judgment’) has re-affirmed and upheld the legal position earlier taken by the Division Bench of the Supreme Court in the case of K. Raheja Development [ see end note 2 ]. Further, the Supreme Court upheld the Constitution...
By R. Subhashree
The media, in recent months, has been focussing extensively on tax planning, tax avoidance and aggressive tax planning. All ingredients that go into a good story- big monied corporates funnelling money to low-tax jurisdictions, abusing the legitimate means and incentives , the shocked ordinary tax payer with no resources to plan or effect similar savings… have been used to...
By Narendra Singhvi & Chetan Agrawal
International transactions involving provision of services now revolve around the concept of place of provision of service. Service tax is imposed under Section 66B of the Finance Act, 1994 where the provision of service is from one person to another and the place of provision is in the taxable territory. The place of provision of a service is determinabl...
By Visali Kumar & Jagannadh Grandhi
As we approach the second year in the negative list based regime in service tax, there are many issues which have not been comprehended yet. Section 66B of the Finance Act, 1994 ( ‘the Act’) is the new charging section which replaced the earlier charging section, paving way for the new and wide net of service tax. This section provides th...
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