Decisions Taken On Indirect Tax Issues for Exchange of Views Between Industry Groups and Government on Tax Related Issues or Tax Related Disputes

Decisions Taken On Indirect Tax Issues by the Forum Chaired by Dr. Parthasarathi Shome, Adviser to the Finance Minister for Exchange of Views Between Industry Groups and Government on Tax Related Issues or Tax Related Disputes

Students even not registered for classes may contact for clarification of their doubts and all query will be answered in due course of time.

For Sending your query, you should follow following format so that answer can be given in minimum time:-

Zero Rate sale – Eligibility criteria under Tamilnadu VAT

Commissioner of Commercial Taxes of Tamilnadu has recently issued a circular in which he addressed & clarified some issues on zero rate sale.

Amount Received by Partner of the Firm at the time of retirement not liable to tax

Recently Honourable High Court of Bombay in the case of "CIT vs. Riyaz A. Sheikh (Bombay High Court)" (for full case law click here)  held that amount received by partner on his retirement is not chargeable to tax as capital gains.

Compulsory online payment of service tax if tax liability is Rs.One lakh

Presently, where an assessee has paid Service tax or Central Excise in Cash or through Cenvat credit of Rs. 10 lakh or more in the preceding financial year, he is required to make payment of Service tax or Central Excise electronically through internet banking.