Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: cpt :: VAT RATES :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: empanelment :: ACCOUNTING STANDARDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: due date for vat payment
« Service Tax »
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders
 Where to invest for saving more on taxes
 A simpler GST can become a registry of all invoices, says iSPIRT’s Sharad Sharma
  Income Tax department may defend CPC in returns fraud case
 One GST rate not possible, next reform after compliance improves,
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST

Upstream seek service tax refund
July, 09th 2009

Terming the levy of service tax on oil exploration companies as a "retrogade step", the industry has asked the government to refund it as this drains away a substantial part of funds committed for oil exploration.

"It is a retrogade step. This levy of service tax on E&P (exploration and production) companies drains away a substantial part of funds committed for exploration as taxes, thus reducing funds available for carrying out actual exploration," RIL Senior Vice President (Commercial) R Ganapathisubramanian said quoting a presentation on behalf of the Petroleum Federation of India (Petrofed).

"There is a need to formulate a scheme for 'refund of service tax paid by E&P entities' on various critical services as the input service tax of over 12 per cent becomes an unrecoverable cost," the presentation said.

The tax was introduced by the government in the 2007 Budget and has since been resisted by upstream oil companies.

"Instead of providing concession of refund of service tax paid by the E&P sector, the government has increased service tax burden on exploration and production companies by extending provisions of services tax to installations, structures and vessels in the coastal shipping (CS) and exclusive economic zones (EEZ)," Ganapathisubramanian quoted from the presentation.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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