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: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: cpt :: ACCOUNTING STANDARDS :: form 3cd
 
 
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 and other issues plague Corporation tender process
April, 02nd 2012

The past week has been tough going for the Coimbatore Corporation, which had to negotiate with contractors to ensure that they accept the bids to take up works.

Last week, the Corporation saw engineering contractors withdraw from the tender process, citing escalation in cost of materials and poor financial viability in taking up the projects at the present rates. Their grievance was that by taking up the projects, they would not be able to complete the work and only incur loss.

To substantiate their action, the contractors say that the price of bitumen has shot up by 15 per cent, steel by close to 40 per cent and blue metal by 20 per cent. The price of cement has also gone up. In short, there is huge price difference between the market price and the price mentioned in the Public Works Department's Schedule of Rates.

The contractors attribute the increase in price to power cut, which has pushed up the cost of production. Industries, big or small, are forced to increase the production cost to factor in the use of fuel to power machines. As for civil works, the contractors are unable to find adequate water for curing, which again they attribute to power cut.

Contractors say that to tide over the crisis, they are waiting for the new financial year, when the PWD will come up with the new schedule of rates, which will, to an extent, reflect the market price.

Corporation officials, however, asked the contractors to take up the projects, convincing them for the need for doing so. The contractors responded favourably for a few projects but not for all.

The Corporation also faced some challenge from lessees of Corporation assets, who opposed the proposal to implement service tax. The civic body, citing a Central Government order, asked all lessees to pay around 10 per cent of their lease amount towards service tax.

The contractors opposed the move saying they will incur loss. They even petitioned the Corporation officials seeking withdrawal of the tax. They say that they have quoted less than the tender amount to factor in the 10 per cent service tax.

This, according to sources, has forced the Corporation to cancel the tender and invite fresh bids. Sources say that the civic body is talking to the contractors to ensure a win-win situation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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