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Table Of Contents

Indirect Tax:

SERVICE TAX IMPLICATION ON PROVIDING VEHICLES TO EMPLOYEES THROUGH ‘CAR LEASE SCHEMES’
APPLICABILITY OF SERVICE TAX ON SALARY PAID TO EMPLOYEES EXPATRIATED FROM FOREIGN HOLDING

Direct Tax:

JUDICIARY BODY COMPENSATES BY ALLOWING CARRY FORWARD OF ADDITIONAL DEPRECIATION TO THE NEXT ASSESSMENT YEAR BY CLEARING THE AMBIGUITY IN THE LANGUAGE OF THE STATUTE


Our Participation:

Our Gamut of Services:

  Indirect Tax
  Direct Tax
  Financial Consultancy (Central/State Govt. Subsidy/Incentives Matters)
   Project Consultancy and Loan Syndication (Approved Consultant of Various Banks/Financial Institutions)
  Industrial Consultancy–assistance in getting :
•  Pollution Clearance
•  Registration of DG Set/Power Plant
•  Electricity Duty matters
•  Factory Licence
•  Food Safety Licence
  Empanelled Valuers with various Banks/FIs

Our Associates:

  Suvridhi Capital Markets Ltd.(Financial Solutions)
  Dreamacres Realty (P) Ltd (Real Estate Division)
  Suvidha Placements Ltd.(Placement Division)
  Suvidha Insurance Broking Pvt Ltd.(Insurance Division)

Service tax implication on providing vehicles to employees through ‘car lease schemes’

A recent Advance Authority Ruling (AAR) in the case of M/s J.P. Morgan Services India Private Ltd, Mumbai Vs. Commissioner of Service Tax has adjudged non levy of service tax on amount charged by the employer from his employees for use of vehicles provided to them. This has brought into question levy of service tax on services provided by employer to his employees.

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Applicability of service tax on salary paid to employees expatriated from foreign holding

A recent Advance Authority Ruling (AAR) in the case of M/s North American Coal Corporation India (P) Ltd[2016]53GST 187/[2015]64 taxmann.com 259 has held that employees expatriated by the foreign holding company to its subsidiary in India where salary was paid by the Indian subsidiary would not attract service tax.

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JUDICIARY BODY COMPENSATES BY ALLOWING CARRY FORWARD OF ADDITIONAL DEPRECIATION TO THE NEXT ASSESSMENT YEAR BY CLEARING THE AMBIGUITY IN THE LANGUAGE OF THE STATUTE

In every Finance Act, that is passed in the Parliament annually, the ruling Government come out with various incentives to facilitate economic growth of the country. The Government provides the mass certain benefits to encourage industrialization, trade and commerce. One such incentive was the introduction of Additional Depreciation under section 32(1)(iia) in the Finance Act, 2002. The Finance Act, 2015 has also used this incentive as a tool to promote industrialization in backward areas by allowing additional depreciation @ 35% in certain cases. Initially when the Finance Act, 2002 was passed, this section allowed additional depreciation @15%. Later this section 32(1)(iia) was substituted by Finance Act, 2005 wherein, amongst other changes, the rate of additional depreciation was increased from 15% to 20% which is reproduced as follows:

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Kolkata-700 025,West Bengal

Phone No. (033) 2454-9131/9133/9134

Helpdesk No. +91 9051029900

Fax No. (033) 2454-9132

E-mail : suvidha@suvidhaconsultants.com suvidhatax@suvidhaconsultants.com Log on to: www.suvidhagroup.in