Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit :: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company
 
 
« Service Tax »
  Changes In Central Goods And Services Tax Rules, 2017
 GST return filing to be a breeze for small businesses
 Changes In Central Goods And Services Tax Rules, 2017
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.

Service Tax dept demands Rs 536 crore, BCCI takes legal route
January, 16th 2015

The BCCI is locked in a legal battle with the Service Tax department, which has demanded an amount of Rs 536 crore (approx) as taxes on cricket board's earnings from royalty and media rights in the last one decade.

The ST department has served the richest cricket body in the world as many as 19 show-cause notices in a period of 10 years so far.

As per BCCI treasurer Aniruddh Chaudhary's report which is attached with the Annual Report (2013-14), the BCCI has been receiving showcause cum demand notices from the tax authorities since the financial year 2004-05 until 2012-13 and the exact amount accrued is Rs 536.13 crore.

The information is a part of Schedule 15 of the treasurer's report, which says that the ST department has served 19 showcause cum demand notices during this period.
According to the report, treasurer Chaudhary has apprised the board members of the matter saying that the BCCI has challenged and will contest all the claims made by ST dept having taken legal advice in this regard.

The board had filed an appeal before Central Excise and Service Tax Appellate Tribunal (CESTAT) at the end of the financial year of 2013 has and the matter is still pending.
If one goes by the content of the demands made by the Service tax authorities over the years, bulk of it is regarding BCCI's earnings from royalty income and media rights over the years which is in the tune of few thousand crores.

According to the report, during the 2005-06, ST demanded an amount of Rs 42.81 crore as tax payable on sponsorship/logo money, royalty income, media rights under categories of Advertising Agency Services and Intellectual Property Services for that particular financial year.

BCCI's main objection has been ST categorising their royalty income and income from media rights under the Intellectual Property Services which makes it more taxable.
This is one area where ST has demanded Rs 39.21 crore (2006-07), Rs 80.51 crore (07-08), Rs 54.54 crore (08-09), Rs 85.16 (090-10), Rs 65.79 cr (2010-11) in the subsequent financial years.

Some of the other heads where ST has demanded money and BCCI has decided to challenge are tax on players' fees, franchise fees, players transfers' fees, franchisee license incomes.

In some cases, Media Rights Income has been clubbed under 'franchisee services' category.

In another part of the report, in a separate order from the Commissioner of Service Tax back in November 2, 2011, a demand of Rs 9.41 crore as service tax was demanded for a period of September 2004-May 2009, and Rs 2.88 crore from a period of June 2009 to March, 2010.

This was after ST categorised production costs under Programme Producer Services. Further an interest of Rs 9.41 crore was also levied.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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