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All You Need To Know About Krishi Kalyan Cess

In Budget 2016, Finance Minister announced a new cess called ‘Krishi Kalyan Cess’ (“KKC”), to be levied at 0.5% on the value of all taxable services w.e.f. June 1, 2016. In this regard, a new Chapter VI was inserted in the Finance Bill, 2016, containing relevant provisions. 

Author : Anuj Bhasin, Senior Associate, Indirect Tax
Date : May 27, 2016
 
 
Applicability of Service Tax On Promotional Activities By Distributor

The term ‘distributor’ is not defined under any act. In common parlance, the term ‘distributor’ means an intermediary who purchases the goods from manufacturers and resells the same to retailers using their marketing /distributor network. 


Author : Anuj Bhasin, Senior Associate, Indirect Tax
Date : May 20, 2016
 
 
18 FAQs: Excise Duty Structure on Ready-Made Garments
Finance Bill, 2016 has imposed excise duty of 2% (without CENVAT credit) or 12.5% (with CENVAT credit) on branded readymade garments and made up articles of textiles of retail sale price of Rs.1000 or more. 

We bring you a set of 18 Frequently Asked Questions (FAQs).

Author : Ashok Bhasin, Partner, Bhasin Sethi & Associates
Date : March 4, 2016
 
 
Goods assessed on RSP basis u/s 4A a ‘manufacturing’?
Section 4A of the Act also pertains to valuation of excisable goods, but it is applicable to certain notified items, where the value for the purpose of charging excise duty is based on Retail Sale Price (RSP). Certain abatement as percentage of RSP is also notified by the Central Government. There is one important aspect of Section 4A of the Act i.e., the Central Government can notify only those goods on which it is required under the Legal Metrological Act, 2009 to declare on the package RSP of such goods. This section thereof makes it mandatory that the goods assessed under section 4A of the Act, must be covered under the Legal Metrological Act.
Author : Ashok Bhasin, Partner, Bhasin Sethi & Associates
Date : January 20, 2016
 
 
Judicial Tussle over Service Tax on Restaurants
The issue of tax on restaurants / hotels or like institutions is multifaceted and controversial one. The insertion of this Sec.65 (105) (zzzzv) levied the service tax on the supply of the food by restaurant/ hotels or like institutions, as a result the food items sold by restaurants were charged for dual taxes one by Central taxing authorities and other by the State taxing authorities. However, the issue as to whether the sale of food and/or liquor made by Restaurants/ Hotels or like institutions would be levied for sales tax (VAT) by concerned State or leviable to Service tax by central government arisen which till date not resolved and various High Courts are holding different and contrasting view on the issue.  It remains to be seen, if the legislature steps in to remedy this issue.
Author : Mr. Kumar Harshvardhan (Associate, Bhasin Sethi & Associates) and Mr. Sourabh Yadav
Date : February 18, 2015
 
 
 
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