Latest Expert Exchange Queries
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: VAT Audit :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT
« From the Courts »
  Dr. Gautam Sen vs. CCIT (Bombay High Court)
 Dr. Gautam Sen vs. CCIT (Bombay High Court)
 DCIT vs. Shivshankar R. Sharma (ITAT Mumbai)
 ACIT vs. Jawaharlal Agicha (ITAT Mumbai)
 CIT vs. M/s. D. Chetan & Co (Bombay High Court)
 Makes further amendments to Notification no. 157/90-Customs dated 28th March, 1990 regarding temporary admission under the ATA Carnet
 Appointment of Common Adjudicating Authority by DGRI - 2/2016-Customs
 ransfers Of Hon’ble Members Of The ITAT (September 2016)
 M. G. Contractors Pvt. Ltd vs. DCIT (ITAT Delhi)
 Haryana State Road & Bridges Development Corporation Ltd vs. CIT (P&H High Court)
 Dharamshibhai Sonani vs. DCIT (ITAT Ahmedabad)

High Court: Wipro asked to deposit Rs 24 cr in tax case
December, 29th 2010

The Karnataka high court has directed IT bellwether Wipro Ltd to deposit Rs 24 crore (Rs 240 million) by Wednesday evening in a case of tax on re-export of software, a company official admitted. As the company did not comply with the court's order of December 10, the vacation bench of justice Venugopala Gowda and justice BV Pinto on Tuesday declined to hear its appeal for a stay on payment of 4% value added tax (VAT) on software re-exported.

In the earlier order, a single-judge bench of the court directed the export division of Wipro to pay 50% of the VAT and file an appeal before the appellate authority for commercial taxes by December 24 for tax exemption.

When the company failed to pay the amount and appeal within the fortnight, the commercial tax department attached its bank accounts and moved the high court against it.

The company official declined to comment on the court directive, saying the "case is sub-judice and our legal experts are dealing with the issue."

Wipro sought tax relief on software it developed for other vendors, which in turn exported it to the IT company.

"The company failed to submit the statutory H-form to the department for claiming tax exemption," a tax official said on anonymity.

Wipro challenged the tax department for levying the export tax on the software and sought exemption as it was paying service tax under the development of software act, and approached the court for quashing the department notice Oct 26.

Rejecting the company's appeal, the tax department contended before the high court that the sale of software amounted to sale of goods and services and cited a Supreme Court ruling in 2006 in a similar case between the central government and Tata Consultancy Services (TCS), the country's largest IT bellwether.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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