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: ACCOUNTING STANDARDS :: TDS :: empanelment :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARD :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
News Headlines »
 Filing of online return for 4th quarter of 2016-17 — extension of period thereof
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned

Cos may get respite from paying service tax on goods transport
July, 24th 2006

Companies paying service tax on goods transport agency services may finally be allowed to avail themselves of abatement on such services.

The issue of abatement on goods transport agency services has been mired in legal tangle over the last one year.

The Finance Ministry now plans to convince the Comptroller and Auditor-General (CAG) that companies should be allowed to avail themselves of abatement so long as they have not claimed Cenvat credit on the inputs or capital goods used for such services.

The CAG had raised audit objections over the issue of companies availing themselves of abatement on such services. It had said that such entities were consignors or consignees and not the service providers in the case of goods transport agency services.

"We hope to convince the CAG that abatement should be allowed so long as the condition that Cenvat credit on inputs has not been availed is fulfilled by companies," a senior Finance Ministry official said.

Although companies are not the service providers, they are liable to cough up service tax on goods transport agency services if they are either a consignor or a consignee of goods transported by road.

In December 2004 the Government had announced the availability of 75 per cent abatement for such services. The abatement was being allowed towards fuel, spare parts, toll taxes, and local taxes incurred by the transport sector.

However, on March 30 last year the Director-General of Service Tax (DGST) issued a letter to clarify that the benefit of abatement would not be available in cases where the persons other than the service provider were liable to pay service tax on goods.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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