Alert No 20100320A : Saturday, March 20, 2010
Latest Amendments and Recent News Views & Stories
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Recent Important Judgements:
Courier Service: Penalty: Section 80: The appellant is a small entrepreneur, engaged in the business of courier service. Service Tax with interest was deposited before issue of adjudication order. It is a fit case for waiver of penalty, by invoking the provisions of Section 80. Accordingly the appeal is allowed by setting aside the penalties imposed under various Sections of Finance Act, 1994.
Speaking Order: Reasons of decision being heart beat of justice learned adjudicating authority shall give reasonable opportunity to the appellant for hearing and shall pass a reasoned and speaking order depicting clearly the evidence which forms basis of his judgments. Matter remanded back.
News Views & Stories:
Service Tax on sponsorships dampens sports spirit
Indian Premier League is truly a premium event for the ministry of finance. The popularity of this sports event has compelled the finance minister to relook and revisit the definitions of taxable services in order to tap fresh revenue channels.
Sponsorship services were brought under the Service Tax net in 2006. However, revenues from this taxable service were negligible. Sponsorship is a consideration in lieu of access to the exploitable commercial potential associated with that property or event. Among many items of sponsorship are signage at sporting events, local or national media coverage, promotional opportunities before and after the event, and the opportunity to entertain clients and prospective customers by inviting them as VIPs to sponsored events....More
Notification No 12/2010 Central Excise (N.T.), New Delhi, the16th March, 2010 - Amends Notification No.24/2005-Central Excise (N.T.) dated 13th May, 2005
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