Blogs

Renting/Hiring of Motor vehicles has mostly been an unorganized operating with limited vehicles (mostly owned) covering limited geographical area and very limited outlook to grow. However, outlook of this sector is now changing with tons of investment being infused by established Indian corporate and foreign investments. In a sector where change seems good and growth seems obvious it is the responsibility of the government to ensure that uncertain fiscal policies must not create unnecessary...

Under Service Tax law, there was ongoing litigation about the applicability of service tax levy on commission agency services by Indian services providers to foreign principals. The argument was that all services were provided by way of marketing/sales promotion to customers in India, consequently taxable in India. The issue was more or less settled over period of 2006-2014 that services were exports. A reversal in the entire concept has been made whereby Indian commission agents earning...

Media reports and press statements by Government Officials seem to suggest that the Union Government is keen to introduce Goods and Service Tax in the year 2016. While they themselves have given hope of its implementation from 1.4.2016, there seems to be a claim by some quarters that it is possible to implement GST from 1^st October 2016. This article attempts to consider the feasibility of introducing GST in the middle of a financial year by analysing the pro and cons and practical issues.... Read more

At the Outset, we would be examining the law as it stood prior to the introduction of the point of taxation rules, 2011. The service tax levy would be attracted at the time of provision of taxable services and crystallize at the time of receipt of the consideration either in full or in part. However where any advance was received for the service to be provided in future, the point of levy and crystallization of levy happened at a single point of time. This is because the taxable service...

Availment of credit based on unsigned invoice or printed signature on computers generated invoice has at times been an area of audit objections by departmental official during the audit, verification, investigation. The law was silent on the issuance of computerized invoice and taking of credit based on computerized invoice.  

Finance Act 2015 has provided specific provisions for issuance of digitally signed invoices and preservations of records in computerised form authenticated by...