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Showing 41 to 60 of 360 Records Search Text: service tax calculation restaurants india |
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Minutes of the 47th Meeting of GST Council held on 28th & 29th June 2022 The 47th GST Council meeting, chaired by the Union Finance Minister, addressed several key issues, including the confirmation of previous meeting minutes, ratification of notifications, and consideration of recommendations from various committees. Discussions covered GST rate changes, exemption reviews, and correction of inverted duty structures. The Council also addressed refund claims, mandatory registration for suppliers using e-commerce platforms, and amendments to CGST rules. The meeting emphasized improving GST compliance through system reforms and discussed the feasibility of e-way bills for gold and precious stones. Additionally, the Council considered extending compensation to states post-GST implementation and reviewed reports from various Groups of Ministers.
2022 (5) TMI 783 - NATIONAL ANTI-PROFITEERING AUTHORITY The NAA found that a real estate developer violated Section 171 of CGST Act by failing to pass on ITC benefits to property buyers. Comparing pre-GST and post-GST periods, the developer's ITC as percentage of turnover increased from 0.22% to 2.40%, resulting in profiteering of Rs. 85,77,419. Despite developer's objections about methodology and increased costs, the NAA ordered refund of the profiteered amount with 18% interest to buyers, price reduction, and publication of an advertisement informing buyers of their entitlement. The jurisdictional Commissioner was directed to monitor compliance.
Minutes of the 43rd GST Council Meeting held on 28th May, 2021 The 43rd GST Council meeting, chaired by the Finance Minister, was held on May 28, 2021, in New Delhi. Key agenda items included confirmation of previous meeting minutes, ratification of notifications and circulars, and updates on GST implementation and revenue. The Council discussed issues related to GST laws, including late fee rationalization, annual return simplification, and GSTN-related matters. It also addressed COVID-19 relief measures, including potential tax reductions on medical supplies and the proposal for a COVID cess in Sikkim. Additionally, the Council reviewed the status of GST compensation and the constitution of new Groups of Ministers (GoMs) for specific issues. The meeting concluded with a decision to defer certain agenda items and form a GoM to address tax rate issues.
FREQUENTLY ASKED QUESTIONS - GST The Goods and Services Tax (GST) is a destination-based tax on consumption of goods and services, levied at all stages from manufacture to final consumption, with tax credits available at previous stages. It subsumes various central and state taxes, including Central Excise Duty, Service Tax, and State VAT, among others. The GST Council recommends taxes to be subsumed and sets rates. GST is dual, with both the Centre and States levying it on a common tax base. Specific commodities like alcohol and certain petroleum products are excluded. The GST Network (GSTN) facilitates tax processes, while compliance and anti-profiteering measures ensure fair pricing. Special provisions exist for imports, exports, and e-commerce.
The Directorate General of Foreign Trade issued a notice clarifying that state and central taxes collected from customers, such as VAT and service tax, should not be included when calculating foreign exchange earnings for the Served From India Scheme (SFIS) and Service Exports from India Scheme (SEIS). These taxes, collected by service providers on behalf of the government, are not considered earnings. The notice emphasizes compliance with provisions from the Foreign Trade Policy and Handbook of Procedures, which specify that only foreign exchange earned from services rendered should be counted for duty credit entitlement calculations. This directive follows observations from a CAG audit.
2016 (5) TMI 255 - ITAT DELHI TDS liability - Payment to Association of Tennis Profession (ATP) - disallowance u/s 40(a)(i) - Held that:- Section 194E read with Section 115 BBA apply to payments made to a non-resident sports association or an institution. In the instant case, ATP is undisputedly a governing body of the world wide men’s professional Tennis Circuit, responsible for ranking of its players and coordinating the Tennis Tournament in the world. In such circumstances we are of the opinion that ATP is a non-resident ... ... ...
2011 (12) TMI 365 - ITAT, Delhi Arms length price - Principles of natural justice - Reference to TPO - McDonalds India Pvt. Ltd. [MIPL] was established as a wholly owned subsidiary of McDonalds Corporation, US [MDC] in 1993 for the purpose of setting up McDonalds restaurants in India - Under the agreement, in consideration of such license the assessee was required to pay to McDonalds [MDC] a royalty equal to 5 per cent of the gross sales, and an initial franchise fee at the rate of US $ 45,000 for each new restaurant opened du... ... ...
Minutes of the 54th Meeting of the GST Council held on 09th September, 2024 The 54th GST Council meeting, chaired by the Union Finance Minister, addressed multiple agenda items, including confirmation of previous meeting minutes, ratification of government notifications, and recommendations from the Law and Fitment Committees. Key discussions included amendments to CGST Rules, clarifications on tax credits, and GST rates for various goods and services. The Council also reviewed the performance of GST-related bodies and discussed the integration of digital payment options. A pilot project for B2C e-invoicing was approved, and the Council agreed to form a GoM to examine the future of Compensation Cess. Issues related to IGST settlement and the GST Appellate Tribunal were also deliberated.
2024 (1) TMI 521 - CESTAT AHMEDABAD Nature of transaction - sale or service - whether the Appellant has correctly discharged full Service Tax on Hall Hire Charges, when full VAT stood paid on food sale component? - extended period of limitation - HELD THAT:- In the matter of M/S CHOKHI DHANI VERSUS THE PRINCIPAL COMMISSIONER CENTRAL EXCISE SERVICE TAX [ 2020 (1) TMI 675 - CESTAT NEW DELHI ], Tribunal has held that banquet and supply of food and beverages having been shown separately by different charges as banquet hall charges and... ... ...
2023 (12) TMI 1450 - ITAT MUMBAI The SC/Tribunal resolved multiple tax classification issues, primarily determining the nature of income from service centre operations and related financial transactions. The court ruled that service centre income constitutes business income, not house property income, based on the primary object of property exploitation. Interest income, expense deductions, and other financial receipts were consistently classified as business income. The tribunal dismissed revenue's appeals, upholding the assessee's treatment of various income streams and rejecting retrospective application of tax amendments.
2020 (10) TMI 1219 - GUJARAT HIGH COURT Approval of revised rates of license fees for the advertising hoardings in private properties - collection of license fees in garb of tax for the advertisement hoardings in the private properties - HELD THAT:- The petitioners have consistently paid the license fees on the advertisement hoardings in a private property as per the provision of Section 386(2) of the GPMC Act prior to 1992 onwards and at no point of time the petitioners have challenged the power to levy the license fees under the pro... ... ...
2019 (12) TMI 1667 - ITAT DELHI Income taxable in India - Alleged Permanent Establishment in India of the Appellant u/a 5(1) and 5(2)(i) of the India UAE Tax Treaty - as primarily argued that as per Article 5(1), the Permanent Establishment means a fixed place of business in which the business is carried out and in the case of assessee they did not have any fixed place of business, but were present intermittently for execution of the contracts and not stayed more than nine months in any particular year - whether at the disposa... ... ...
Minutes of the 37th GST Council Meeting held on 20th September, 2019 The 37th GST Council Meeting, chaired by the Union Finance Minister, discussed various GST-related issues. Key agenda items included the need for a consultative mechanism between the GST Council and the XV Finance Commission, confirmation of previous meeting minutes, and ratification of notifications and orders. The Council reviewed revenue positions, considered exemptions for small taxpayers, and discussed issues related to input tax credit, refund procedures, and e-way bills for gold. Amendments to GST laws, the implementation of a new return system, and linking GST registration with Aadhaar were also deliberated. The meeting concluded with decisions on rate changes and clarifications for goods and services, and updates on GSTN ownership changes.
2019 (9) TMI 667 - CESTAT NEW DELHI Renting of immovable property service - period August, 8/2008 to June, 6/2012 - eligibility for abatement of 40% in terms of notification no.26/2012 - service tax on letting out plant/machinery and fixtures to M/s. Mahindra Holidays Resorts India Ltd. - Supply of tangible goods service - extended period of limitation - penalty u/s 77 and 78 of FA. HELD THAT:- The facts are akin to the ruling in the case of M/S JAI MAHAL HOTELS PVT LTD VERSUS COMMISSIONER OF CENTRAL EXCISE [ 2014 (7) TMI 540 - CE... ... ...
Minutes of the 32nd GST Council Meeting held on 10th January 2019 The 32nd GST Council Meeting, chaired by the Union Finance Minister, discussed numerous agenda items, including confirmation of previous meeting minutes, ratification of government notifications, and decisions taken by the GST Implementation Committee. Key discussions involved proposals to boost the real estate sector through a composition scheme, rationalizing GST rates on lotteries, and addressing issues in the private security sector. The Council also reviewed amendments to the CGST Act and related laws, discussed the use of RFID data for e-Way bill enforcement, and considered the National Anti-profiteering Authority's quarterly report. The meeting concluded with the approval of recommendations from the Group of Ministers on revenue mobilization.
Minutes of the 21st GST Council Meeting held on 09 September, 2017 The 21st GST Council Meeting, chaired by the Union Finance Minister, focused on various agenda items including confirmation of previous meeting minutes, GST implementation decisions, and nominations for the GST Network Board. Key discussions included extending the composition scheme deadline, exempting certain handicraft suppliers from registration, and adjusting tax rates on specific goods like tamarind, roasted gram, and idols. The Council also deliberated on the GST rate structure for handicrafts and compensation cess on motor vehicles. Additionally, they addressed IT challenges faced by GSTN, agreeing to extend return filing deadlines and form a Group of Ministers to oversee IT issues. The next meeting was scheduled for October 24, 2017.
New Tax Audit - Indirect Tax Compliance The article discusses recent changes in tax audit requirements under Indian Income Tax law, focusing on indirect tax compliance. The amendments require auditors to provide additional disclosures and judgments, increasing their workload. Auditors must now verify indirect tax liabilities and report on compliance with various indirect tax laws, such as VAT, CST, Service Tax, Central Excise Duty, and others. The article highlights the importance of understanding indirect taxes to enhance client value and compliance, and it outlines potential errors and disputes in tax reporting. It also details changes in audit report forms, emphasizing the need for thorough documentation and verification.
Indirect Tax Impact - Tax Audit - AY 14-15 The article discusses the changes in tax audit requirements for the Assessment Year 2014-15, particularly focusing on indirect taxes. It highlights increased responsibilities for auditors due to additional disclosures and reporting requirements. The article outlines the impact of these changes on various indirect taxes, including VAT, CST, Service Tax, Central Excise Duty, and others. It emphasizes the need for auditors to understand indirect tax laws to provide value to clients and ensure compliance. The article also details potential errors and disputes in major taxes and provides a comparative analysis of changes in tax audit forms to enhance transparency and compliance.
1967 (5) TMI 65 - PUNJAB AND HARYANA HIGH COURT The High Court held that the supply of meals to residents in the hotel did not constitute a sale of foodstuffs under the Punjab General Sales Tax Act, 1948. The court analyzed the essential elements of a sale, referencing relevant precedents and statutory provisions. The appeal challenging the levy of sales tax on meal supplies was dismissed, affirming the decision that no sale of food occurred in the hotel setting. The court rejected arguments on calculation methods and estoppel, upholding the Single Judge's ruling and ordering the appeal to be dismissed with costs.
2022 (7) TMI 34 - NATIONAL ANTI-PROFITEERING AUTHORITY The NAA ruled against a company that failed to pass on GST rate reduction benefits to consumers, determining profiteered amount of Rs. 1,86,39,57,508/-. The Authority rejected all defenses including time-bar arguments, challenges to calculation methodology, claims about increased customs duty, and constitutional challenges. NAA held that Section 171 mandates commensurate price reductions as the only acceptable method of passing benefits, ruling that increased product quantity/grammage, post-supply discounts, or passing higher benefits on certain SKUs were not valid compliance methods. The company must reduce prices and deposit the profiteered amount with interest into Consumer Welfare Funds.
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