Rumored Buzz on kota fibres case study analysis

Service Tax: Owing provider prices: Scope and legal responsibility: Appellants are difficult the taxability of "thanks provider fees" underneath the Finance Act, 1994 as also the penalties imposed on them via the decreased authorities. The decrease appellate authority has regarded as "cargo-managing assistance" with the appellants and has held the identical for being exigible to services tax when it comes to Clause (23) of Section 65 with the Finance Act.

Exemption: Abatement v/s Cenvat Credit history: there's no bar/restriction in discharging service tax legal responsibility thro accrued CENVAT credit history As long as no CENVAT credit score is taken around the inputs/money products or enter products and services Utilized in the rendering of your company while in the given case or agreement and we keep appropriately.

which have been Employed in relation to leasing of immovable house services have been held to get suitable enter company less than Rule two(I) of your CENVAT Credit history Procedures, 2004: Continue to be granted on prima facie case.

.. method for the Wolf Motors dealership community? Suggestions for Wolf Motors to be able to be able to construction their provider partnership procedure are: ❖ They need to look at a centralized resources management procedure to study, determine and make the decisions on what will be purchased for each of the four dealerships instead of allowing Each and every dealer to...

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Services Tax: Cargo handling services: Scope: Appeal admitted versus CESTAT buy saying which the expression “Cargo dealing with support” addresses packing of cargo for all modes of transport and Considering that the assessee experienced undertaken the activity of packing and so on.

Desire: Various Providers: Support tax and curiosity payable: Penalty not imposable as during the fabric time period there have been decisions enabling Cenvat credit on input expert services even for products and services provided to employees’ colony.

Cenvat Credit history: Input Companies: The architectural products and services getting been used for putting in the reported rain h2o harvesting method can not be treated as obtaining no nexus Using the enterprise activities with the appellant which pertains to manufacture of carbonated beverages and aerated drinking water.

Kota is enduring a variety of issues. The take care of director to prevent in excess of output and around stocking has resulted to some sequence of using the services of and layoffs yearly. And the corporation is suffering from liquidity difficulties mainly because it is not able to finance its day-to-day functions, so its banking account stands about drawn.

four  Internet pages Kota Fibers Investigate Paper ...December 12, 2010 To: Ms. Pundir – Running Director and owner, Kota Fibers Ltd. Dear Ms. Pundir, As you realize, Kota Fibers has actually been growing its sales regularly during the 15-twenty% array each year for the final 3 years plus the 2001 forecasts are showing twenty% development. In spite of these robust profits figures, Internet revenue is forecasted being only $1.3 Million, Virtually 50 % of 2000 Internet Earnings Regardless of the forecasted incremental rise in income of $15 million. Also, the Company is struggling with a dollars crunch and the business’s banker, the All-India bank and Have confidence in Organization are certainly nervous since they see their bank loan situation with your business being prolonged and Kota has failed to repay the bank loan According to the contract. This really is a significant concern and needs to be resolved immediately. I've reviewed the corporate’s projections and income flows with the fiscal year ended December 31, 2001 within an try to determine: a) the operational troubles and alternatives offered by various departments and b) the integrity of the info inside the forecasts and cash flows. I have performed so With all the intent of providing your Company with a far more exact fiscal photo for 2001 and to ascertain if the Company can fulfill its fiscal obligations to your bank together with other key creditors. The subsequent report is often a summary of my results. Remember to also check with Appendix one which happens to be a numerical summary of my findings.

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but doesn't consist of, handling of export cargo or passenger baggage or mere transportation of goods.

Services Tax: Cargo Dealing with Products and services: Action of loading and unloading of goods for Steel Authority of India Ltd.: Scope and liability: According to Section 65(23) of Chapter V of Finance Act, 1994 “cargo dealing with provider” signifies “loading, unloading, packing or unpacking of cargo and contains cargo handling providers presented for freight in Exclusive containers or for non-containerised freight, products and services provided by a container freight terminal or every other freight Bonuses terminal, for all modes of transportation and cargo dealing with provider incidental to freight, but won't involve dealing with of export cargo or passenger baggage or mere transportation of goods”.

5. All products intended for export are excluded in the scope of this levy. There may be cases wherever products can be transhipped at a spot aside from the position of packing before achieving an area from where it can be exported. For example, goods are packed say at Agra for transportation to Bhopal where it is actually transhipped and ultimately reaches Mumbai, from in which it really is exported. A doubt is raised as as to whether Service Tax could be leviable on cargo handling support at Agra. It truly is clarified company provided in relation to any cargo which can be intended for export, wouldn't be taxable regardless of The truth that it reaches the area of export immediately after transhipment. Nonetheless, the relevant files really should show that the Goods are for export.

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