Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
Levy of service tax - Life Insurance Service - Renting of Immovable Property Service or not - On the taxability of life insurance service, the Tribunal determined that the premium collected by the appellant is exempt from service tax as it pertains to sovereign functions. Regarding renting of immovable property service, the Tribunal upheld the levy of service tax based on recent legal precedent. However, penalties for non-payment of service tax on renting of immovable property were dropped due to conflicting opinions on the applicability of service tax during the relevant period.
Levy of service tax - Life Insurance Service - Renting of Immovable Property Service or not - On the taxability of life insurance service, the Tribunal determined that the premium collected by the appellant is exempt from service tax as it pertains to sovereign functions. Regarding renting of immovable property service, the Tribunal upheld the levy of service tax based on recent legal precedent. However, penalties for non-payment of service tax on renting of immovable property were dropped due to conflicting opinions on the applicability of service tax during the relevant period.
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