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: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment
 
 
« General »
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets

Truckers to go on strike from July 2
June, 30th 2008

Commercial transport operation in the country seems to be heading for a standstill from July 2 onwards as the All India Motor Transport Congress (AIMTC) and the finance ministry are yet to reach an agreement over the issue of evasion of service tax by goods transport agents (GTAs).

In the last few months, the service tax department has slapped tax recovery notices on several GTAs, demanding payment of arrears totalling Rs 400-500 crore.

The AIMTC has declared a nationwide indefinite strike from July 2, with one of its key demands being the withdrawal of the circular issued by the Income-Tax Department on May 16 for the recovery of tax arrears since 2001.

The move by the department came in the wake of serious anomalies noticed by the field officers of the service tax department in their routine audit on the GTA, where they found that these service providers had bracketed cargo-handling, storage and warehousing services as gross freight charges in their consignment note in order to enjoy the benefit of 75 per cent abatement available to them since January 1, 2005.

At present, a service tax rate of 12.5 per cent is applicable on cargo-handling, storage and warehousing services, which has to be deposited by the service provider. On the other hand, for GTA services, there exists a 75 per cent abatement on the freight recovered by the agents from the consignors, which will have to be deposited by the consignor or consignee.

However, AIMTC executives denied these allegations, saying that by levying tax on the other services provided by GTAs and demanding its payment since 2001, the government was violating an earlier agreement reached between them.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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