9911796707
TMI BlogSERVICE TAX LIABILITY BETWEEN HOLDING AND SUBSIDIARY COMPANYX X X X Extracts X X X X X X X X Extracts X X X X ..... SERVICE TAX LIABILITY BETWEEN HOLDING AND SUBSIDIARY COMPANY X X X X Extracts X X X X X X X X Extracts X X X X ..... Pvt Ltd is holding company of B Pvt Ltd.A Pvt Ltd holds 99% shares of B Pvt Ltd. B Pvt Ltd is into hotel business and transfers majority of its income to A Pvt Ltd. B Pvt Ltd pays service tax on the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eceipts of its hotel business. The question is whether service tax liability will arise if B Pvt Ltd transfers 90% of the income to A Pvt Ltd. Kindly clarify with applicable notifications/circulars an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d extract from law. Thanks in advance. Reply By surya narayana: The Reply: Dear Friend, There is a concept of Distinct entity in Service Tax Provisions and according to me, Holding and subsidiaries ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are falls under Distinct entities. In view of this the amount is subject to service Tax Best regards Surya Reply By Ganeshan Kalyani: The Reply: Sir service tax is liable on consideration charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by service provider from service recipient for service rendered. Here there is no service provided but only some amount is transferred. The nature and purpose of transfer to be examined. Only then a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fool proof reply can be given. Thanks. Reply By KASTURI SETHI: The Reply: Sh.Ganeshan Kalyani's reply is really very deep. Where is service ? Only transaction in money is no service in terms o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Section 65 B (44) (a)(iii). X X X X Extracts X X X X X X X X Extracts X X X X
|
