Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Page of 4782
Press 'Enter' after typing page number.
401 to 420 of 95636 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Despatch money received under FOB export contracts for completing cargo loading before stipulated laytime was treated as a contractual incentive or commercial adjustment, not consideration for port services. Taxable value requires a direct nexus between an amount and a service rendered to another person. As loading was incidental to the export sale contract and there was no separate quick-loading service agreement or privity with the vessel owner, the despatch amount was not liable to service tax. The related service-tax demands were set aside, and consequential interest and penalties could not survive.
Despatch money received under FOB export contracts for completing cargo loading before stipulated laytime was treated as a contractual incentive or commercial adjustment, not consideration for port services. Taxable value requires a direct nexus between an amount and a service rendered to another person. As loading was incidental to the export sale contract and there was no separate quick-loading service agreement or privity with the vessel owner, the despatch amount was not liable to service tax. The related service-tax demands were set aside, and consequential interest and penalties could not survive.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
