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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: TDS :: empanelment :: cpt :: form 3cd :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company
 
 
« General »
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall
 Tax exemption for ELSS will help broaden investor base, channel household savings

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