Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Import of goods by vessel Budget, 2016 made it expensive!!!

Budget - By: - Pradeep Jain - Dated:- 3-3-2016 - Introduction:- Budget 2016 has been introduced and with it has come many amendments and changes in the law. One such change is with respect to the services by way of transportation of goods by an aircr .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

xisting Situation:- The services of transportation of goods by an aircraft or a vessel are exempted in negative list in section 66D as follows:- (p) services by way of transportation of goods- (i) by road except the services of- (A) a goods transport .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

carried by an aircraft or vessel from a place outside India up to the customs station of clearance in India. As a result the shipping lines particularly are exempt from service tax while importing goods on behalf of the importers. Amendment effective .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Amendment has also been made in notification no. 25/2012 dated 20/06/2012 vide notification no. 09/2016 dated 01/03/2016 by inserting a new entry no. 53 which states as follows: 53. Services by way of transportation of goods by an aircraft from a pl .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

6/2016. Effect of amendment:- The new entry will exempt only the inward transportation of goods by an aircraft. The existing exemption to vessels is going to be withdrawn w.e.f. 1.6.2016. This directly impacts the shipping lines registered in India. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Rule 10 of POPS states as follows: The place of provision of services of transportation of goods, other than by way of mail or courier, shall be the place of destination of the goods: Provided that the place of provision of services of goods transpor .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ng line is registered outside India In the first case, as the shipping line is registered in India, and the service is taking place in a taxable territory, it will have to pay service tax as a service provider. On the other hand, in the second case, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version