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Service Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Levy of Service tax - declared service or not - amount received ...

Service Tax

June 15, 2023

Levy of Service tax - declared service or not - amount received towards damages in arbitration proceedings in connection with the purchase - The Circular issued under the GST regime emphasizes that there has to be an express or implied agreement to do or abstain from doing something against payment of consideration for a taxable supply to exist and such an act or a situation cannot be imagined or presumed to exist merely because there is a flow of money from one party to another - Demand set aside - AT

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  1. Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

  2. Declared Service or not - appellant had collected an amount towards compensation/penalty from the buyers of coal on the short lifted/un-lifted quantity of coal;...

  3. Levy of service tax - liquidated damages/compensation charges received by the Appellant towards the breach and non-compliance of Minimum Guaranteed Tonnage (MGT) as per...

  4. Amount received towards SIM Card form part of the taxable value for levy of service tax, SIM Cards are never sold as goods independent from services provided – SC

  5. Amount received towards SIM Card form part of the taxable value for levy of service tax, SIM Cards are never sold as goods independent from services – SC

  6. Levy of service tax - forfeiture of earnest money and retention of compensation / liquidation damage for not delivery of purchased goods by the other party - declared...

  7. Levy of Service Tax - amount of liquidated damages/penalty collected by the appellant for non-compliance of the terms of the procurement contracts - - Explanation to...

  8. Taxability of claim for damages - enhanced compensation - No amount has been received till date by the Assessee pertaining to the damages as claimed by the assessee -...

  9. Service tax paid by the assessee could not form part of amount for the purpose of deemed profits u/s 44BB unlike the other amounts received towards reimbursement - AT

  10. Service tax paid by the assessee could not form part of amount for the purpose of deemed profits u/s 44BB unlike the other amounts received towards reimbursement - AT

 

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