In a recent decision, the two-judge bench of the Supreme Court, while upholding the validity of letter dated 20.11.2001, issued by the Orissa Government, has categorically held that the surcharge under section 5A of the

The New Delhi bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that the term ‘basic fare’ in terms of the definition of rule 6(7) of the Service Tax Rules,1994 was not the

The Competition Commission of India (CCI) has imposed penalties upon 3 Airlines for Unfair Business Practices in fixing and revising Fuel Surcharge (FSC) - a component of Freight Charges. The​F​inal O​rder was passed by CCI on

The Central Board of Indirect Taxes and Customs (CBIC) exempted Social Welfare Surcharge leviable on Crude or roughly trimmed or Blocks Marble or travertine. The Board further sought to exempt Social Welfare Surcharge leviable on

A division bench of the Bombay High Court has held that no interest and penalty can be levied on the portion of payment pertaining to surcharge, CVD and SAD as the Customs Tariff Act does

In a budget 2020 presented yesterday has announced significant changes into co-operatives. Cooperative societies are currently tax at a rate of 30% with surcharge and cess. As a major concession, and in order to bring

In a major relief to Dakshin Haryana Bijli Vitran Nigam, the ITAT Delhi has confirmed the deletion of income tax addition amounting to approx. Rs. 328 Crores on account of “Surcharge levied but not realized".

The Madras High Court in the case of M/s Gemini Edibles and Fats India Pvt. Ltd. v Union of India while making liable the petitioner to pay appropriate social welfare surcharge held that the recovery

The Income Tax Appellate Tribunal (ITAT) Hyderabad bench, on Friday held that Surcharge and Education Cess should be calculated only after deducting the MAT credit under Section 115JAA of the Income Tax Act, 1961. The

The Central Board of Indirect Taxes and Customs ( CBIC ) has issued Notification No. 04/2024 – Customs on January 22, 2024, introducing amendments to Notification No. 11/2018 dated February 2, 2018. This amendment, executed

The Central Board of Direct Tax (CBDT) on Monday issued the Clarification regarding short deduction of Tax Deduction at Source (TDS)/ Tax Collected at Source (TCS) due to increase in rates of surcharge by Finance

The Taxation Laws (Second Amendment) Bill, 2016 has been introduced by the Finance Minister Arun Jaitley before the Parliament on Monday. The Bill proposes 30 per cent tax on undisclosed income plus 10 per cent

The Finance Minister, Nirmala Sitharaman in her Budget Speech has announced the reduction in Alternate minimum tax rate and Surcharge for Cooperatives. Currently, cooperative societies are required to pay Alternative Minimum Tax at the rate

The Finance Department issued a Circular No. 02/2020-CustomsF.No.605/06/2019-DBK clarifying that SWS ( Social Welfare Surcharge ) is calculated at the rate of ten per cent on the aggregate of duties, taxes, and cesses which are

The Central Board of Direct Taxes  (CBDT) issued Notification dated 27th June 2016 incorporating certain amendments to the Income Tax Rules, 1962. As per the notification, Foreign Tax Credit is available, who is an assessee,