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: Central Excise rule to resale the machines to a new company :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT Audit :: VAT RATES
 
 
Customs and Excise »
 The Customs and Central Excise Duties Drawback Rules, 2017
 Man fleeing from Customs arrested
 Refund of amount on account of double-payment of Customs
 SC paves way for trial against RIL in 1987 excise evasion case
 GST: Govt sets up panel to receive profiteering complaints
 IGST on high-seas sale of imports is levied only during customs clearance
 Central Excise Rules, 2017 – Part II
 Central Excise Rules, 2017 – Part I
 Allocate the charges amongst the Members of the Central Board of Excise and Customs
  Constitution of Review Committees of the Chief Commissioners of Central Excise and Service Tax-Regd.
 4 new members appointed in Central Board of Excise and Customs

Central Excise slaps Rs 4.6 crore tax notice on Indian Oil
May, 13th 2014

The Directorate General of Central Excise Intelligence (DGCEI) has issued a show cause-cum-demand notice of over Rs 4.6 crore to the nation's largest oil firm Indian Oil Corporation for not paying service tax under the head of a 'goods transport agency'.

"We had issued a notice to IOC last month for tax liability of Rs 4.64 crore and the oil major has to reply by May 24," said a DGCEI source.

IOC will have to reply why the amount of Rs 4.64 crore along with interest, penalty and additional penalty for suppressing the value of toll charges paid to the transporters should not be charged, said the notice issued by Additional Director-General of DGCEI Samanjasa Das.

Das said IOC has not been paying their tax properly as a goods transport agency by not including toll charges paid to its transporters as actual expenses in the taxable value between October 2008 and September 2013.

Das also said the transporters involved are plying their trucks on various routes for transporting the goods of IOC and that there are certain roads where toll charges are collected from these vehicles.

"Without payment of the impugned toll charges, the goods carriage cannot use the said road and hence, the transporter cannot provide the impugned services of a goods transport agency without paying toll charges," the notice added.

Hence, the notice said, the expenditure incurred by the transporter becomes an intrinsic part of the cost of transportation, as without incurring the expenditure on toll charges, the provision of service of a goods transport agency is not possible.

Therefore, the toll charges cannot be disintegrated from the value of taxable services of a goods transport agency as they are inextricably connected with the service provided, the notice said.

When contacted, IOC spokesperson refused to comment.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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