Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: TDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
« News Headlines »
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

India may exempt taxes on coal transfer by JV firms
October, 08th 2008

Press Trust of India reported that government has asked states to exempt local taxes on coal transfers by JV firms from captive coal blocks. In a letter to chief secretaries the coal ministry has made it clear that handing over of the raw material to a partner in a joint coal block could not be treated as trading.

The ministry said that Transfer of coal from JV or SPV mining company to the block allotee cannot be treated as sale of coal as it is an arrangement entered into to facilitate mining operations by the joint allotees."

The ministry added that in case of handing over of coal by JV or SPV mining firm formed in pursuance of the terms and conditions of joint allocations, imposition of sales tax and value added tax by state governments may not be applicable.

The ministry said that "This is akin to the situation where a single coal block allocatee carries out mining operations in the allocated block for his captive end use plant and no sales tax is levied by state government."

Batting for withdrawal of taxation it said some of the captive coal blocks have been allocated on sharing basis to companies in order to encourage conservation of the national resource besides deployment of optimal technology.

In case of allocation of such blocks on sharing basis, the JV companies jointly take up mining operations in which the allotee firms hold equity proportionate to their share in coal production from the mine. Post mining the JV firms transfer coal to their joint block allotees for meeting requirement of captive plants.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions