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Income Tax - Highlights / Catch Notes

Home Highlights January 2018 Year 2018 This

Disallowance as the overloading charges - Railway Punitive ...

Income Tax

January 18, 2018

Disallowance as the overloading charges - Railway Punitive Charges - payments made to the railways for overloading of the wagons is compensatory in nature and cannot be disallowed under Explanation to Section 37(1) of the Act. - AT

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  1. Punitive charges paid to Railways for overloading of the wagons is compensatory in nature, therefore, the same cannot be disallowed by invoking the provisions of...

  2. Punitive charges paid to the Railways - Allowable Revenue expenditure u/s 37 - whether the punitive charges paid to the Railways for alleged violation of the provision...

  3. Activity of loading of coal from Railway siding into Railway wagons making use of Pay Loader - Any activity incidental to freight of cargo is liable to be taxed under...

  4. Eligibility of Cenvat credit - Debit notes raised for claiming reimbursement of rack handling charges, wagon handling charges and port railway usage charges and service...

  5. Saddles (used in the railway wagons for carrying HR coils) are excisable goods and accordingly chargeable to duty - AT

  6. Stay application - applicant had undertaken the activity for railway line at railway siding - siding is a part of railway - Railways are not covered under the...

  7. Disallowances as the overloading charges u/s 37 -whether this is nothing but a penalty as per provision of section 73 of the Indian Railway Act, 1989 - these payments...

  8. Violation of section 40A(3) - payment in cash in excess of prescribed limit for purchasing of scrap from the Railways - No disallowance - HC

  9. Exemption from service tax - no differentiation made on Government and Non-Government railway for providing exemption – exemption available on Construction of railway...

  10. GST Rates - HSN Code - Railway wagons are classifiable under heading 8606 and attract 5% GST. with no refund of unutilised ITC - used railway wagons also attract 5% GST.

 

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