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: empanelment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT Audit
 
 
General »
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms

PGCIL faces Rs 413 cr tax liability; PSU contests claim
February, 16th 2009

Tax authorities have issued a showcause notice to state-owned Power Grid Corporation for non payment of over Rs 413 crore service tax on power transmission services, but the company contested the claim saying it is bound by the norms set by power regulator CERC.

"We are regulated by the Central Electricity Regulatory Commission (CERC) and the said amount of tax will be passed on to the consumers as an integral part of tariffs," PGCIL's senior officials said, adding that the PSU was heading for a legal opinion on tax authorities' action.

The authorities have also charged PGCIL for suppressing the facts to evade service tax.

According to the service tax department of the Central Board of Excise and Customs, PGCIL has not paid service tax for the period May 2006 to September 2008.

PGCIL, being a PSU company, cannot absorb the service tax as this is part of the tariff paid by end consumer, it said.

The notice said, "Service tax amounting to Rs 402.46 crore, education cess amounting to Rs 8.05 crore, Secondary and Higher Education cess amounting to Rs 2.65 crore (collectively amounting to Rs 413.16 crore) during the period from May 1, 2006, to September 30, 2008, appears to be recoverable from Powergrid along with interest for late payments."

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

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