Tag Archives: Services

VAT on Service Tax- a myth or reality

VAT on Service Tax- a myth or reality The Indirect Tax structure in India is composed of a group of tax laws and regulations. It is levied upon different activities including manufacturing, sale, trading, services and imports. Wide range of Indirect taxes consisting of Service Tax, Value Added Tax, Excise Duty and Custom Duty is […]

Recommendation for deposits

Recommendation for deposits Proposed recommendations of The Companies Law Committee for Deposits under Companies Act, 2013 Definition of Deposit: The Committee considered the suggestion for making the definition of deposit less restrictive, but felt that adequate prescriptive powers for excluding amounts received by a company from the term ‘deposit’ have been provided in the definition […]

DISCIPLINARY ACTION AGAINST RETIRED GOVERNMENT SERVANT

DISCIPLINARY ACTION AGAINST RETIRED GOVERNMENT SERVANT Disciplinary action is being taken against the erring official as per the rules framed in this behalf. We have witness many an officer/officer has been suspended on the date of retirement on superannuation and their pensionary benefits are subject to the outcome of the disciplinary proceedings. The issue to […]

Service Tax implications on Land Development Agreements between landlord and developers

Service Tax implications on Land Development Agreements between landlord and developers In case of a Real estate and construction industry, where due to various political and economical reasons we have seen that there is a sharp downturn being noted in the sale of residential and commercial construction projects irrespective of fact that the prices of […]

Service Tax Implications On Land Development Agreements

Service Tax Implications On Land Development Agreements Service Tax implications on Land Development Agreements between landlord and developers In case of a Real estate and construction industry, where due to various political and economical reasons we have seen that there is a sharp downturn being noted in the sale of residential and commercial construction projects […]

Temporary Renting of Garments – Indirect Tax Implications

Temporary Renting of Garments – Indirect Tax Implications Consumers wanting everything at the drop of a hat, we see a number of new start-ups mushrooming everyday with their unique and ingenuous ideas. We recently met the founderts of one such start-up (“Company”) that made us explore quite an interesting proposition.

Cenvat credit admissible on services of sales commission agent

Cenvat credit admissible on services of sales commission agent Background: The definition of ‘input services’ given under Rule 2(l) of the Cenvat Credit Rules, 2004 (“the Credit Rules”) covers the services of sales promotion in its inclusive part, eligibility to avail Cenvat credit on the services rendered by a commission agent has been disputed recently […]