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 »
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling
 Income-tax (5th Amendment) Rules, 2018
 Last-minute tax tips for late filers
 What demonetisation did to tax collections

Hearing on INSA's petition adjourned to July 31
July, 04th 2006

The Bombay High Court on Monday adjourned till July 31, the hearing on the writ petition filed by the Indian National Shipowners Association (INSA) in connection with the claims issued by the Director General of Central Excise Intelligence (DG-CEI) to pay service tax retrospectively from August 2002 to March 2006.

After the DG-CEI slapped summons on shipping companies, seeking full details of their foreign exchange payment, including dry docking expenses at foreign ports during this period, INSA filed a writ petition before the High Court last month. INSA, in which all shipping companies are members, is seeking reversal of the DG-CEI order.

Industry sources said the net service tax for the retrospective period would come to a total of nearly Rs 80 crore to Rs 100 crore, especially as 2004-05 was a boom time for the industry and ships underwent extensive dry-docking at foreign ports.

The DG-CEI move came shortly after the Government came out with some clarifications earlier this year on the issue of service tax payable by the shipping companies. While these clarifications gave clear exemption to shipping companies from paying service tax on services consumed outside India, the issue of payment of the tax for the period August 2002 to March 2006 was left untouched.

In its writ petition, INSA has also brought out the issue of extra-territorial jurisdiction of the tax authorities.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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