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Abhishek Raja "Ram"

@abhishekrajaram

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I-T Dept nudges taxpayers to disclose foreign assets correctly In an explicit nudge to taxpayers citing compliance with global disclosure norms, the Income Tax Department has urged them to disclose details of foreign assets and income correctly in their income tax returns and file revised returns by December 31, if there is a requirement to update the information.

about 1 month ago

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๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฅ๐—ฒ๐—ด๐—ถ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ฎ๐—ป๐—ฑ ๐—–๐—˜๐—ก๐—ฉ๐—”๐—ง ๐—–๐—ฟ๐—ฒ๐—ฑ๐—ถ๐˜ ๐—ฅ๐—ฒ๐—ณ๐˜‚๐—ป๐—ฑ๐˜€ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "As there was no mandatory provision in the rules regarding registration, refund of CENVAT Credit cannot be denied for input invoices dated before registration."

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ฎ๐—ป๐—ฑ ๐—ฆ๐—ฝ๐—ผ๐—ป๐˜€๐—ผ๐—ฟ๐˜€๐—ต๐—ถ๐—ฝ ๐—ผ๐—ณ ๐—–๐—ฟ๐—ถ๐—ฐ๐—ธ๐—ฒ๐˜ ๐—ง๐—ผ๐˜‚๐—ฟ๐—ป๐—ฎ๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "It is settled that no Service Tax is payable on sponsorship of IPL and ICC cricket tournaments as the ingredients for levy of tax are not fulfilled in the absence of any provision of service and when payments were made only in relation to sponsorship of the IPL Cricket tournament."

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ฎ๐—ป๐—ฑ ๐——๐—ฒ๐—น๐—ฎ๐˜†๐—ฒ๐—ฑ ๐—ฃ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—–๐—ต๐—ฎ๐—ฟ๐—ด๐—ฒ๐˜€ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "โ€˜Delayed payment chargesโ€™ cannot be held as โ€˜considerationโ€™ and are not subject to service tax, as they arise from unintended non-compliance rather than for services rendered."

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—”๐—ต๐—บ๐—ฒ๐—ฑ๐—ฎ๐—ฏ๐—ฎ๐—ฑ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ฎ๐—ป๐—ฑ ๐—ก๐—ผ๐˜๐—ถ๐—ผ๐—ป๐—ฎ๐—น ๐—ฉ๐—ฎ๐—น๐˜‚๐—ฒ ๐—œ๐—ป๐—ฐ๐—น๐˜‚๐˜€๐—ถ๐—ผ๐—ป ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "The value of taxable service cannot depend on the value of goods supplied free of cost by the service recipient, and notional charges for equipment usage need not be included in the taxable value."

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ณ๐—ผ๐—ฟ ๐—ฉ๐—ฒ๐˜€๐˜€๐—ฒ๐—น ๐—–๐—ต๐—ฎ๐—ฟ๐˜๐—ฒ๐—ฟ๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐˜† ๐——๐—ฒ๐—ฝ๐—ผ๐˜€๐—ถ๐˜๐˜€ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "Providing vessels to a group company for export is not for transfer of right to use the vessels; therefore, no service tax is leviable under 'supply of tangible goods for use.'"

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ฎ๐—ป๐—ฑ ๐— ๐—ฎ๐—ป๐—ฝ๐—ผ๐˜„๐—ฒ๐—ฟ ๐—ฅ๐—ฒ๐—ฐ๐—ฟ๐˜‚๐—ถ๐˜๐—บ๐—ฒ๐—ป๐˜ ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: โ€œConsideration includes any amount payable for taxable services provided or to be provided, including salary, bonus, perks, etc., paid to secondees, which constitutes manpower recruitment service and is taxable.โ€

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—–๐—˜๐—ก๐—ฉ๐—”๐—ง ๐—–๐—ฟ๐—ฒ๐—ฑ๐—ถ๐˜ ๐—ฎ๐—ป๐—ฑ ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ถ๐—ป๐—ด ๐—”๐—ฐ๐˜๐—ถ๐˜ƒ๐—ถ๐˜๐˜† ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: โ€œCENVAT Credit cannot be availed on trading activity, and the portion of credit attributable to trading must be reversed.โ€

about 1 month ago

Service tax not applicable on car parking charges collected by shopping mall from visitors. Tribunal (CESTAT) Calcutta in South City Projects (Kolkata) Ltd. vs Commissioner of Service Tax (2024) 24 Centax 132

about 1 month ago

๐—–๐—˜๐—ฆ๐—ง๐—”๐—ง ๐—–๐—ต๐—ฒ๐—ป๐—ป๐—ฎ๐—ถ ๐—ฅ๐˜‚๐—น๐—ถ๐—ป๐—ด ๐—ผ๐—ป ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ ๐—ง๐—ฎ๐˜… ๐—ฎ๐—ป๐—ฑ ๐—ฅ๐—ฒ๐˜ƒ๐—ฒ๐—ฟ๐˜€๐—ฒ ๐—–๐—ต๐—ฎ๐—ฟ๐—ด๐—ฒ ๐Ÿ“ข ๐—ง๐—ต๐—ฒ ๐—ง๐—ฟ๐—ถ๐—ฏ๐˜‚๐—ป๐—ฎ๐—น ๐—ฟ๐˜‚๐—น๐—ฒ๐—ฑ: "Services provided entirely outside India are not subject to service tax under reverse charge mechanism as per Rule 3 of the Taxation of Services (Provided from Outside India and Received in India) Rules, 2006."

about 1 month ago

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