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: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: due date for vat payment :: cpt :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit
 
 
Service Tax »
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions
 GST implementation – Hasty turns out nasty
 What is Goods and Services Tax Network (GSTN)?
 Best tax saving mutual funds or ELSS to invest in 2017
 GST: Centre, states to divide taxpayer base
 A 5-Point Guide For Buyers To Understand The Effect Of GST On Real Estate
 Stalled unsorted diamond imports to resume after GST rate revision
 TDS, TCS deductors can apply for GST registration from 18 September

Telcos get a call for service-tax records
September, 17th 2010

The Central Board of Excise and Customs (CBEC) has asked the telecom department for copy of special audits that were undertaken on the books of all leading telecom companies to examine the service tax angle, documents viewed by Media reveal.

Last year, the government ordered special audits on the books of all telcos beginning with Reliance Communications(RCOM) after the Cellular Operators Association of India(COAI), a group of GSM mobile operators, had alleged under reporting of revenues by the Anil Ambani-promoted company. The audits were later extended to RCOMs rivals including Bharti Airtel, Vodafone Essar, Idea Cellular and Tata Teleservices to make sure that they have correctly reported and shared revenues with the government.

Since telcos pay 6-10% of their annual revenue as licence fee, 2-6% as spectrum usage charges and 12% as service tax, reporting lower revenue brings down the component they have to share with the government. The special audit reports of all mobile phone companies have been submitted to the telecom department.

Following this, the communication ministry had also asked all leading telcos to submit their books to the Comptroller and Auditor General of India (CAG), a constitutional body that conducts independent audits of all government accounts.

The Central Board of Excise and Customs will now examine if exchequer has lost on service tax due to alleged under reporting by mobile phone companies.

In August, a four-member telecom department committee was set up to examine the special auditors report. RCOM is learnt to have endorsed the findings that the countrys second-largest telco had under reported its revenues in 2006-07 and 2007-08 causing losses to the exchequer.

But, the telecom department panel, headed by its member finance Vijayalakshmi K Gupta, has also asked the ministry to refer its findings to the legal department before raising any demand on RCOM.

This is because, some of the heads under which RCOM is alleged to have shown lower revenues were sub judice as
cases were pending with the Supreme Court. Besides, some of the issues are also covered under telecom tribunal TDSATs ruling that licence fee is payable only on actual realised revenues and not on notional revenues.

The audit reports other four operators are currently also being examined by the same committee headed by member finance Vijayalakshmi K Gupta.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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