Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Section 43B is applicable in the case of sales tax and excise ...

Income Tax

September 11, 2020

Section 43B is applicable in the case of sales tax and excise duty but same could not be in case of service tax: CIT (A) held that assessee never allowed deduction on account of service tax which is collected on behalf of government and paid to government account, therefore service provider is merely acting as the agent of the government and is not entitled to deduction on account of service tax. - AT

View Source

 


 

You may also like:

  1. In view of the provisions of section 43B, Excise duty/customs duty paid by the assessee in a particular accounting year is allowable as deduction in such year

  2. Provision for sick leave liability - based on the basis of notional figures - such notional liability cannot be allowed as deduction - section 43B(f) is not applicable.

  3. Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

  4. Disallowance of excise duty - an item of section 43B - Since the excise authority held that CENVAT credit on fuel used for generation of electricity supplied to the...

  5. Valuation of closing stock - unutilized credit of CENVAT account was adjusted against the excise duty payable in respect of sales made – the question of applicability of...

  6. Deduction u/s 43B disallowed - In the present case, the liability to pay Excise Duty of the assessee is incurred on the removal of finished goods in the subsequent year...

  7. Wharfage/port dues - whether in the nature of tax, duty, cess or fee u/s 43B – section 43B of the Act is not attracted in the case - AT

  8. Allowability of excise duty refund u/s 80IB - There is an inextricable link between the manufacturing activity, the payment of central excise duty and its refund -...

  9. Deduction u/s 43B - Payment of Excise duty - double deduction or not - The High Court held that, Section 43B of the Act, which came to be introduced from Assessment Year...

  10. Disallowance u/s 43B – the assessee has retained the money from the suppliers on the pretext that it will make the payment to the Government - provision of section 43B...

 

Quick Updates:Latest Updates