CA Hemant T Dewani's Expert Profile

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vinod says : gta defintion of commercial concern upto Budget 06
Do some one agree to the interpretation as under Defintion of commercial concern was changed in Budget 2006 wef May 2006 in which commercial concern was substituted with persons and hence even receiver of goods ie consignee ( specified entity) is also not liable to pay service tax. which means that from 1.1.2005 to May 2006 If driver of goods carriage is self employed (i.e. taken vehicle on rent) or he is himself owner of vehicle, he is not a 'commercial concern' and hence would not come under that definition, even if he issues a ‘consignment note’ (usually, he will not issue a ‘consignment note’). The word ‘commercial concern’ was not defined in the Act. As discussed earlier, individual providing services will not be a ‘commercial concern’, if he is self employed, even if he purchases a vehicle for providing service. The reason is that his primary motive is to earn livelihood and not earn profit. This view is also supported by statement of Finance Minister made in his budget speech on 8-7-2004. EXTRACT OF BUDGET 2006 4. SCOPE OF CERTAIN EXISTING SERVICES IS BEING EXTENDED OR CLARIFIED AS FOLLOWS: 1) The references to ‘commercial concern’, in relation to seventeen taxable services, are being substituted with ‘person’, so as to expand the scope of the service provider in the said services. By this amendment , service tax is leviable on the taxable services provide d by a person and not necessarily by a commercial concern; 8. AMENDMENTS IN THE ACT: (1) Finance Act, 1994 is being amended to: - (a) substitute references to ‘commercial concern’, in relation to seventeen taxable services, with ‘person’, so as to expand the scope of the service provider in the said services; [This change will come into effect from a date to be notified after the enactment of the Finance Bill, 2006] All sort of services of goods transport by road are not liable to service tax. The tax is only on services provided by Goods Transport Agency (GTA) (termed as ‘transport booking agents’ by Finance Minister in his budget speech on 8-7-2004). Only GTA which is a ‘commercial concern’ and which issues a consignment note is liable to service tax

sandeep says : 80-IC
is goldplating on watches covered under manufacturing and thenafter pls tell eligible for 80-IC

sandeep says : hello
hello sir

Rahul says : Thanks For replying
Dear Sir Please advise me on this issue. Q. Whether in an assessment to which presuptive taxation u/s 44AD of Income Tac Act Applies, can AO make addition to income on the basis of admissions made by Assessee in Survey proceedings.

Bijoy Ranjan Dey says : OLD COURSE
I did register for my CA finals in the year 2002 ..... Do i need to get it re-validated, as has been given in the recent notification? (Period of Validation of Registration of CA Students .... http://www.caclubindia.com/news/2008/6/period_of_validation_of_registration_of_ca_students.asp)