Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd
 
 
News Headlines »
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash

SEZs likely to get service tax waiver on all activities
August, 18th 2006
The commerce & industry ministry is considering issuing a circular exempting special economic zone (SEZ) units and developers from service tax on all activities related to authorised operations in SEZs. Right now, exemption is granted only for services rendered within SEZs. The finance ministry, however, is expected to strongly oppose the move. While it is not totally averse to providing the exemption to developers, the ministry has expressed its unwillingness to extend it to SEZ units. It is apprehensive that the provision could be misused by units leading to a financial drain on the government. Official sources pointed out that a ministry of finance notification issued prior to the enactment of the SEZ Act had extended service tax exemption only for services which were provided within the physical area of an SEZ. However, the SEZ Act states that service tax exemption should be provided for all activities related to operation in the SEZ. We are aware of the existing anomaly and we are going to take action to redress it soon, an official said. The export promotion council for EOUs and SEZs has taken up the issue strongly with the government. The SEZ Act clearly states that so long as a service is related to an authorised operation in an SEZ, exemption from service tax should be provided irrespective of where it is rendered. There are no two ways of interpreting it, said LB Singhal, director general, EPCES. Mr Singhal pointed out that a number of services required by SEZ units and developers were carried out outside the SEZs. For instance, when units import certain inputs, they need to employ services for moving the cargo. Such services should be exempt from tax as the imported material would be used as inputs for production by SEZ units, he said. Following the enactment of the SEZ Act and Rules earlier this year, there has been a lot of dispute between the commerce and finance ministries on their interpretation and implementation. Recently, the commerce ministry came out with an official instruction stating that the harassment being faced by SEZ units in availing of excise exemption for sale in domestic tariff area as mentioned in the SEZ Act should be stopped. It informed all customs and excise commissioners that all activities relating to SEZs shall be guided by the provisions contained in the SEZ Act, 05, and the SEZ Rules, 06.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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