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: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT Audit :: TDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: VAT RATES
 
 
« Service Tax »
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-7)(Meaning Of Important Terms)
 GST Council may clarify on tax rate for solar modules at 3 June meeting
 Rules not ready, key e-way bill for GST may be delayed, says top official
 How Goods and Service tax will benefit the nation
 GST implementation may increase expense ratio of fund houses
 GST structure: an unfortunate compromise
 Extension Of Provisional Attachment Under Service Tax Provisins
 How favourable will GST be for Karnataka?
 GST rate impact: Here’s how the new tax can carry a greater punch
 E-way Bill - movement of goods under GST
 How the GST rates will affect your money

Income-tax department served service tax notices sponsors
April, 28th 2010

The income-tax department has served service tax notices on IPL sponsors DLF, Adidas and Religare.

Sources said the tax demand on DLF, the title sponsor which is supposed to pay Rs 40 crore a year as sponsorship fee for five years, was Rs 4.8 crore for the leagues first edition in 2008. Adidas and Religare sponsored teams.

However, DLF officials said they had contested the notice and argued that sports sponsorship was not subject to service tax.

The service tax paid was Rs 64 crore for IPL I but only Rs 29 crore for IPL II in 2009. Although the league says the dip was because last years event was held in South Africa, the Central Board of Excise and Customs (CBEC), which deals with the tax, is not convinced.

It has pointed out that most of the tax-paying parties the franchisor, the franchisee and most of the service providers were the same for IPL I and II.

The franchisor is the BCCI (cricket board) /IPL, while the franchisees are the team owners. The tax is collected from sponsorship, media space sales and services such as catering, sports management, publicity and security given to teams and to IPL itself.

Notices demanding service tax have also been sent to the teams, including Rajasthan Royals and Kings XI Punjab.

In the notice sent to KPH Dream Cricket Pvt Ltd, which owns Kings XI Punjab, recently, the central excise commissioner, Chandigarh, had demanded nearly Rs 5 crore as service tax for the matches the team played in Mohali during IPL I.

The sum includes interest and penalties.

The notice says KPH Dream Cricket is liable to pay Rs 3.9 crore on the Rs 30 crore that it had received as aid from the BCCI-IPL.

According to sources, another Rs 37 lakh is payable on the gate (ticket) receipts of Rs 4.7 crore. Over Rs 9 lakh as service tax was due from the Dream Cricket for the commission/brokerage of nearly Rs 75 lakh paid by it to companies in Australia and Sri Lanka.

BCCI officials have admitted to the tax authorities that service tax dues had been delayed, the sources said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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