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
Latest Expert Exchange
News Headlines »
 5 things you should not forget while filing income tax return
 10 Easy Steps to File ITR 1 Online
 How to e-verify income tax return?
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

Finance Ministry to discuss tax concessions with CAG
July, 21st 2006

The Finance Ministry on Thursday said it will hold talks with the Comptroller and Auditor General officials to prevail upon them to allow tax concessions on services of goods transport agencies.

In his address to an Assocham seminar here, joint secretary in the Finance Ministry, R Sekar said the tax department is of the opinion that concessions should be given to those who pay service tax if they do not avail input credit.

However, CAG views that recepient of services cannot be given abatement.

Those availing services provided by goods transport agencies pay service tax due to the unorganised nature of these agencies.

The tax department wants to provide them abatement, but CAG is opposing it.

"We are planning to have meeting with CAG officials to convince them of our views," Sekar said.

To a question raised by courier services officials, he said the sector was not given abatement because of its high-end nature, while cargo transport agencies are given abatement.

Reacting to a demand of tour operators to allow the industry more abatement than the current level of 60 per cent, Sekar said the commission provided by them would be subject to tax only if tour operators provided a break up of the total package they charged customers.

If they fail to give such a break-up 40 per cent tax would be imposed tour operators.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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