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: empanelment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: form 3cd :: Central Excise rule to resale the machines to a new company :: cpt :: TDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARD
 
 
News Headlines »
 Govt to simplify income tax laws, sets up task force under taxman Arbind Modi to study overhaul
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961

Dhamra Port seeking exemption from service tax on dredging
June, 23rd 2007
The company will be required to spend more than Rs 600 crore on dredging, covering both capital and reclamation dredging, as part of the construction of the new port.

The Dhamra Port Company Ltd (DPC), a joint venture between Tata Steel and L&T, is to shortly approach the Union Finance Ministry with an appeal for granting of exemption to dredging services from the payment of service tax.

"If the construction of ports, roads and other infrastructure projects could be exempted from the purview of service tax, there is no reason why dredging, an integral part of any port construction, should not be treated the same way", a spokesman for Dhamra Port told Business Line here today.

The company would also try to enlist the support of CII, Assocham and FICCI, in this matter, he said.

Imposition of tax

The dredging services were brought under the scope of service tax with effect from June 16, 2005.

Capital dredging

If the Government, for some reasons, could not exempt the entire gamut of dredging services from the payment of service tax, at least capital dredging, forming a substantial part of port construction, should be considered, he said.

Such type of dredging was usually undertaken at the time of construction of a new port or harbour as against maintenance dredging which was a routine periodic removal of silt and other materials from rivers, ports and harbours.

The spokesman pointed out that the cost of dredging was usually very high, largely due to the absence of competition.

Cost very high

A handful of foreign firms, possessing expertise and equipment, dominated the world's dredging scene, forcing those in need of the services often to succumb to the pressure tactics of these firms.

DPC, it was indicated, would be required to spend more than Rs 600 crore on dredging, covering both capital and reclamation dredging, as part of the construction of the new port.

International Seaport Dredging Ltd, a joint venture between Dredging International of Belgium and L&T with the Belgium firm holding the majority stake, has been entrusted with the task of undertaking the dredging for Dhamra port.

Dhamra dredging

An estimated 60 million cubic metres of dredging has to be undertaken over three years.

The Finance Ministry, the spokesman emphasised, should also consider granting concessional sales tax for procurement of equipment and other materials on inter-state basis against declaration form to port developers as has been granted to the telecommunication sector.

Santanu Sanyal

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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