“Service Tax on Cross Border B2C OIDAR Services w.e.f 1st December 2016”

-by P.Jitendra Kumar, B.com BL(Hons) With a view to bring the Online Information and Database Access or Retrieval (OIDAR) Services providers located in non-taxable territory under the service tax net, the Central Government has brought in new provisions under the Service Tax laws to tax such cross-border transactions. At present, services received from service provider Read More

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“NEW ALL INDUSTRY RATE (AIR) OF DUTY DRAWBACK w.e.f. 15th NOVEMBER 2016”

– by P. Jitendra Kumar, B.com, BL (Hons) Duty Drawback, shortly known as DBK is one of the simplest method of refund next to TDS refunds.DBK rates are notified as All Industry Rates (AIR) which attempts to compensate the duties, Customs/Central Excise/Service Tax, paid on input goods or services used in the manufacture of export Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

Duty Drawback w.r.t Brand Rate Fixation

Author: Sachin Bajpai – Advocate Associate, B.A. LL.B.   Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be Read More

GST Implementation & Enrollment Procedure

Author: Ankita Vashistha – Advocate Associate, B.Com.(Hons.), LL.B   Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable Read More

October 2016 Newsletter

FOREIGN TRADE POLICY CIRCULAR F.No.605/71/2015-DBK dated 14th Oct 2016 Rationalization of procedure in handling EO under EPCG Authorisations i) The Customs authorities are directed not to replicate verification of EO when it is already done by RA’s except in random 5% cases. ii) In case of endorsement of shipping bill or BoE or in case of non-EDI Shipping Read More

AMORTISATION COST ON MOULDS SENT THROUGH JOB WORK CHALLAN

WHAT IS MOULD? A mould is a hollowed-out block that is filled with a liquid or pliable material such as plastic, glass, metal or ceramic raw material. The liquid hardens or sets inside the mould, adopting its shape, which is called cast.   WHAT IS AMORTISATION COST? Amortized cost is that accumulated portion of the Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

Taxability of compensation on compulsory acquisition of non-agricultural land – CBDT clears the air!

 S 2(14) of the ITA, 1961 defines Capital Asset by exempting only the Agricultural Land, that too located not in the specified urban area without any reference to the compulsory acquisition u/s 96 of RFCTLAAR Act. However, vide Circular No 36/2016 date 25th Oct 2016 the CBDT has extended the exemption by including compulsorily acquired land without any Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

“Penalty provisions under Service Tax: Stringent or Simplified”

The Service sector being the dominant sector contributes to over 60% of India’s GDP presently. Commensurate to this, there is an increase in expansion of taxability of services with the advent of Negative List under the Service Tax regime. In tantamount to this, penalty provisions under service tax have been revamped to ensure non-discriminatory form Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

September 2016 Newsletter

LEX TAXARE – SAPAA’s Insights FOREIGN TRADE POLICY NOTIFICATION Public Notice No.32/2015- 2020 Addition & Enhancement in MEIS Eligibility with immediate effect. Export of various goods which were not notified earlier are now eligible for MEIS Duty Reward Scrips. Reward Rates are enhanced for certain goods. CIRCULAR Policy Circular no.2/2015- 2020 Merchant exporter is eligible Read More

GST: Compensation scheme without cess: A Wayout

Introduction Goods and service tax, the major restructuring ofindirect tax system, is all set to come into effect from 1st April,2017. It will subsume various Central taxes like excise duty, service tax, countervailing duty, etc. and State taxes like Value-Added tax, octroi& entry tax, etc. Also, it will subsume all the cesses.The Presidenthas given his Read More

Disclaimer:  The views and opinions expressed in this article are those of the authors. All data and information provided on this site is for informational purposes only. sapaa.in makes no representations as to accuracy, completeness, correctness or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.