Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: VAT RATES :: cpt :: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TDS :: ACCOUNTING STANDARDS :: empanelment
 
 
Service Tax »
  GST not to be added for TDS computation
 Getting it wrong on GST
 GST: When does a service provider need to register across multiple states?
 GST Council to examine sectoral issues in August 5 meet
 Number of taxpayers under GST set to eclipse that of previous tax regime
 Goods and Services Tax will accelerate growth,
  Central Goods and Services Tax (CGST) Rules, 2017
 Goods bought with loyalty points will face tax under GST
 substitution of Service Tax by Goods and Services Tax (GST)
 Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do
 9 ways GST could impact home buyers

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 2017 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