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: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India
 
 
From the Courts »
 CIT vs. ITD CEM India JV (Bombay High Court)
 Rajasthan Tax Consultants Association vs. UOI (Rajasthan High Court)
  H.T. MEDIA LIMITED Vs. PRINCIPAL COMMISSIONER OF INCOME TAX-IV, NEW DELHI
 Commissioner Of Income Tax (Ltu), New Delhi Vs. Oriental Insurance Company Ltd.
 Principal Commissioner Of Income Tax (Central)-2 Vs. Index Securities Private Limited
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 18/09/2017 To 22/09/2017
  M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS

Only state-run refineries to get tax holidays
June, 05th 2008

Finance Ministry has restricted tax holidays to only new refineries run by public sector firms and has barred units under construction by private sector companies like Essar Oil from the benefit.

Finance Ministry on May 30 notified eight projects like Indian Oil's Paradip refinery, HPCL-Mittal's Bhatinda unit and Bharat Petroleum's Bina plant for extending seven-year holiday from payment of income tax.

Besides 15 million tons Paradip refinery, 6 million tons Bina project and 9 million tons Bhatinda unit, it also listed Oil and Natural Gas Corp's 3,000 barrels per day and 1,500 bpd mini-refineries at Gandhar in Gujarat and Tatipaka in Andhra Pradesh, official sources said.

Other projects eligible for tax breaks include Phase-III expansion of Mangalore refinery by 5.31 million tons, 7.5 million tons capacity new Visakh refinery expansion of Hindustan Petroleum, and 3 million tons capacity expansion of IOC's Panipat refinery.

The seven-year income tax holiday to refineries will be available before March 2012 only if they are owned by public sector company or built by companies where state-run firms have 49 per cent stake.

For the refineries to be eligible for the tax sops they should have been notified before May 31, 2008 and only eight projects have been notified, sources said.

These conditions have kept out refineries planned by Essar Oil at Vadinar in Gujarat, Nagarjuna Oil at Cuddalore in Tamil Nadu and Cals Refineries at Haldia in West Bengal out of the tax benefit purview as they neither have public sector equity nor have been notified.

Sources said even though work on private sector refineries began much before the sunset clause was introduced, the Finance Ministry has ignored their cause.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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