/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
The CESTAT bench of Ahmedabad (“the Tribunal”) in the case of Marwadi Shares & Finance Ltd. v. C.C.E &S.T.-Rajkot (Service Tax Appeal No. 12087 of 2017) held that the Service Tax is not liable to be paid on the amount collected from the customer as interest free security deposit against trading of shares which is subsequently refunded without utilization.
Facts:
Marwadi Shares & Finance Ltd. (“the Appellant”) collected sum of money as interest free security deposits towards trading of shares which would be subsequently refunded without utilization.
The revenue demanded the service tax on the security deposit taken by the Appellant on the above transaction.
Issue:
Whether the Appellant is liable to pay service tax on the deposit taken by the Appellant from their customer as security deposit against towards trading of shares, which would be subsequently refunded without utilization?
Held:
The Tribunal held that:
(Author can be reached at info@a2ztaxcorp.com)
DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this article are solely for informational purpose and for the reader’s personal non-commercial use. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon. Further, no portion of our article or newsletter should be used for any purpose(s) unless authorized in writing and we reserve a legal right for any infringement on usage of our article or newsletter without prior permission.
Excel spreadsheets are a ubiquitous tool used in businesses of all sizes. They are used to store and manage a wide variety of data, from customer records to financial data to inventory information and
Read More
A good dashboard is like your business's command center in today's data-driven business world. It helps you keep an eye on everything that matters. To truly understand how your company is doing, here.
Read More
Excel spreadsheets are a common tool used in businesses for managing a wide range of data, like customer info, finances, and inventory. They're the go-to format for sharing transaction details in.....
Read More
In the fast-paced world of business, seamless communication is the lifeblood of success. TallyPrime 4.0 recognizes this critical need and offers a seamless communication with WhatsApp for Business....
Read More
TallyPrime has introduced an all-new graphical dashboard feature that revolutionizes the way businesses analyze and present their data. With the power of visualization, this feature not only makes....
Read More