Service tax | Pixr8 News

A recent High Court verdict directing the central revenue authorities to refund service tax collected from three travel portals including MakeMyTrip may be challenged in Supreme Court by the government. Officials sources today said legal experts are going through the High Court order and an appeal challenging the verdict is likely to be filed in Supreme Court. Delhi High Court had on Thursday ordered Directorate General of Central Excise Intelligence (DGCEI), an intelligence arm under the Finance Ministry to refund the service tax collected from travel portals-- MakeMyTrip, Ibibo and Ebiz, saying the payment made by them "was not voluntary but under coercion and duress". The court had also pulled up the DGCEI for "unwarranted" arrest of a senior official each from MakeMyTrip and Ebi...

Logistics sector, which accounts for nearly 14 per cent of the GDP, could see savings to the tune of USD 200 billion annually on implementation of GST, which will ensure faster movement of goods and less idle hours, say experts. With the introduction of Goods and Services Tax, many taxation procedures will come down, nearly halving the cost of inventory as customers will not need to pile up stocks in different warehouses, say experts. "For a USD 2-3 trillion dollar economy, this could mean a potential of USD 200 billion wasteful inventory spent being available to deploy in productive value creation and further propelling the economy's growth," said Deepak Garg, founder of logistics firm Rivigo. Describing the passage of the GST bill in Rajya Sabha as a "positive reform", apex transpor...

Tag: Service tax

Finance Ministry Will Challenge Delhi High Court Order to Refund The Service Tax of Travel Portals MakeMyTrip, Ibibo and Ebiz

Logistics Company’s Could Save $200 Bn Annually Post GST