Service tax liability on grant-in-aid is discussed in this February, 2013 issue of Tax Amicus. Article in this issue holds that the taxability would depend on existence of the nexus with service provided in return. Service tax portion covers Calcutta High Court order holding that the officers of C

A thorny issue of determination of place of provision of service is discussed elaborately, Rule-by-Rule, in the article in this January 2013 issue of Tax Amicus. Central Board of Excise and Customs (CBEC) has issued a Circular for recovery of confirmed demand even in cases where stay application i

Punitive charges like damages, interest and penalty whether are allowed as deductions under the Income Tax Act if the same are compensatory in nature? Article in this January 2012 issue of "Tax Amicus" while discussing the same, concludes that Maxwell’s faith in the judiciary stands vindicated. Am

Contractual rights whether constitutes capital assets? Article in this February 2012 issue of "Tax Amicus" dwells upon this topic in the light of recent Supreme Court judgment in the case of Vodafone. Duty structure of gold and silver has been changed both under Central Excise and Customs while cu

This pre-budget issue of "Tax Amicus" covers article seeking clarifications on various Cenvat credit issues. Cenvat Credit Rules have been further amended to restrict credit availability to units getting inputs from units enjoying area based exemptions. CBE&C has clarified on Central Excise duty e

This issue of "Tax Amicus" covering major changes brought by Budget 2012 also discusses the features of new Service Tax regime based on Negative List. While Central Excise and Service Tax rates have been raised across the board to 12%, various new rules are being proposed in Service Tax. Cenvat cr

This issue of "Tax Amicus" carries article pointing to certain anomalies in MRP based valuation/assessment of cosmetics less than 10g or 10ml. "Ratio decidendi" covers CESTAT orders holding Special CVD refund as admissible on goods imported and transferred on right to use basis and that Cenvat cre

Tax liability in respect of hire-purchase transactions under various State laws is discussed at length in this issue. The article argues that there is double taxation on processing fees/documentation charges and that standardization of practices and uniformity is the need of the hour. In Central E

December 2012 Issue November 2012 Issue October 2012 Issue September 2012 Issue August 2012 Issue July 2012 Issue June 2012 Issue May 2012 Issue April 2012 Issue March 2012 Issue February 2012 Issue January 2012 Issue

Introduction of Negative List in the Service Tax provisions from July 2012 is one of the landmark changes in the Indian Taxation regime. New Place of Provision of Services Rules have also been notified which supersede earlier Export of Services Rules and Import of Services Rules. Under Central Exc