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VAT - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Valuation - Tax on Luxuries - inclusion of an amount towards ...

VAT and Sales Tax

February 19, 2024

Valuation - Tax on Luxuries - inclusion of an amount towards ayurveda income after giving all deductions as per law in calculation of assessable value - The High Court noted that the Tribunal's decision was based on the submissions and figures provided by the petitioner. As the petitioner failed to substantiate any figures with accounts, the Court upheld the Tribunal's decision to tax the ayurveda income.

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  2. Valuation - Goods Transport Agency - inclusion of amount received towards hamaii charges and handling charges - demand confirmed - HC

  3. Valuation of taxable services - inclusion of amount of concession in the name of scholarship given by the appellant to its various students in assessable value - not...

  4. Levy of Luxury Tax - charitable trust - running a Dharmashala incidental to its main activity of running a hospital - not liable to luxury tax - HC

  5. Valuation - Classification of service - non inclusion of cost recovered towards Transportation and cargo handling - demand confirmed with interest and penalty.

  6. Valuation under service tax - inclusion of TDS (withholding tax) where burden born by the recipient (payer) in the gross value - Amount of TDS is required to be...

  7. Valuation - inclusion of investment subsidy - There is no justification for inclusion in the assessable value, the VAT amounts paid by the assessee using VAT 37B Challans

  8. Valuation - inclusion of subsidy in assessable value - no justification for inclusion in the assessable value, the VAT amounts paid by the assessee using VAT 37B Challans - AT

  9. Valuation - inclusion of reimbursement of expenses in assessable value - pure agent services - this amount is not includable in the assessable value for charging service tax - AT

  10. Valuation - Construction of Residential Complex Service - inclusion of amount collected by the appellant as Interest Free Maintenance Security in assessable value -...

 

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