The document provides a summary of Arvind Arora's skills and experience. Over 24 years, he has managed indirect taxes, legal, and commercial functions for several large companies. He has extensive experience handling excise, service tax, and customs matters. He has independently handled cases up to the tribunal level and provided consultancy services to several companies on indirect tax and legal issues.
The document provides a summary of Arvind Arora's skills and experience. Over 24 years, he has managed indirect taxes, legal, and commercial functions for several large companies. He has extensive experience handling excise, service tax, and customs matters. He has independently handled cases up to the tribunal level and currently provides consultancy services to several companies, advising on indirect tax compliance.
Relevance of taxation in internal auditSumit Singhal
1. The document discusses relevance of taxation in internal audits and analyzes value added tax (VAT) and other tax components on manufacturing and sale of goods worth INR 100. It shows that taxes account for 67% of the total cost.
2. VAT is a sales tax levied on intra-state sales. Input tax credit is allowed to reduce the VAT burden. Central sales tax (CST) is levied on inter-state sales where no input credit is available.
3. Other taxes discussed include turnover tax (TOT) for small dealers and works contract tax (WCT) applicable to construction contracts.
A Presentation on on 15 recent High Court Judgements (pronounced in 2015-16) on the ever-changing subject of Transfer Pricing. In some cases the High Courts have reversed the rulings of Tribunal, while in others the rulings of Tribunal have been confirmed.
TransPrice Times 15 December 2015 - 12 January 2016Akshay KENKRE
Dear Readers,
Please find a link to the first edition of TransPrice Times for the new year 2016.
With the onset of holiday season, we saw some important judgement being pronounced by courts which are summarized in the alert.
Further, a long awaited guidance from the CBDT on the change in the residential status law which included the a global concept of 'Place of Effective Management' ('POEM') is also covered in the alert.
We hope you find this newsletter useful and look forward to your feedback and suggestions. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
This document summarizes the Los Angeles Unified School District's prequalification process for contractors bidding on both formal and informal district contracts. It outlines the basic requirements, including having a valid contractor's license and workers' compensation insurance. It also describes the prequalification questionnaire contractors must complete, which evaluates their experience, safety history, quality, past performance, financial resources, and more. Contractors are assigned qualification categories based on the level of experience and references they can provide.
This document provides an introduction and overview of the Maharashtra Value Added Tax Act of 2002. It discusses key aspects of VAT including:
- VAT is a multi-stage tax system that taxes value added at each stage of production and distribution, allowing tax credits for taxes previously paid.
- The Act replaced the earlier Bombay Sales Tax Act and came into effect on April 1, 2005, establishing the VAT system in Maharashtra.
- Registration is required if annual turnover exceeds Rs. 1 lakh for traders or Rs. 5 lakhs for manufacturers. Importers must register regardless of turnover.
- Goods are classified into Schedules A-E and taxed at rates from 0-20% depending
This document contains questions and answers related to VAT audit issues. Some key points addressed include:
- A dealer changing from the composition scheme to the normal VAT system does not need to declare stock on hand from the previous year.
- A works contractor under the composition scheme is not eligible for standard deductions before tax is levied.
- Excess purchases in one period under the composition scheme for retailers cannot be adjusted in later periods.
- A contractor can issue Form C for materials purchased from outside Maharashtra if used for works contracts within Maharashtra.
- Modifying the CST registration to include a capital asset is necessary before Form C can be issued for its purchase.
The document provides a summary of Arvind Arora's skills and experience. Over 24 years, he has managed indirect taxes, legal, and commercial functions for several large companies. He has extensive experience handling excise, service tax, and customs matters. He has independently handled cases up to the tribunal level and currently provides consultancy services to several companies, advising on indirect tax compliance.
Relevance of taxation in internal auditSumit Singhal
1. The document discusses relevance of taxation in internal audits and analyzes value added tax (VAT) and other tax components on manufacturing and sale of goods worth INR 100. It shows that taxes account for 67% of the total cost.
2. VAT is a sales tax levied on intra-state sales. Input tax credit is allowed to reduce the VAT burden. Central sales tax (CST) is levied on inter-state sales where no input credit is available.
3. Other taxes discussed include turnover tax (TOT) for small dealers and works contract tax (WCT) applicable to construction contracts.
A Presentation on on 15 recent High Court Judgements (pronounced in 2015-16) on the ever-changing subject of Transfer Pricing. In some cases the High Courts have reversed the rulings of Tribunal, while in others the rulings of Tribunal have been confirmed.
TransPrice Times 15 December 2015 - 12 January 2016Akshay KENKRE
Dear Readers,
Please find a link to the first edition of TransPrice Times for the new year 2016.
With the onset of holiday season, we saw some important judgement being pronounced by courts which are summarized in the alert.
Further, a long awaited guidance from the CBDT on the change in the residential status law which included the a global concept of 'Place of Effective Management' ('POEM') is also covered in the alert.
We hope you find this newsletter useful and look forward to your feedback and suggestions. You can write to us at akshaykenkre@transprice.in
Happy Reading!!!
This document summarizes the Los Angeles Unified School District's prequalification process for contractors bidding on both formal and informal district contracts. It outlines the basic requirements, including having a valid contractor's license and workers' compensation insurance. It also describes the prequalification questionnaire contractors must complete, which evaluates their experience, safety history, quality, past performance, financial resources, and more. Contractors are assigned qualification categories based on the level of experience and references they can provide.
This document provides an introduction and overview of the Maharashtra Value Added Tax Act of 2002. It discusses key aspects of VAT including:
- VAT is a multi-stage tax system that taxes value added at each stage of production and distribution, allowing tax credits for taxes previously paid.
- The Act replaced the earlier Bombay Sales Tax Act and came into effect on April 1, 2005, establishing the VAT system in Maharashtra.
- Registration is required if annual turnover exceeds Rs. 1 lakh for traders or Rs. 5 lakhs for manufacturers. Importers must register regardless of turnover.
- Goods are classified into Schedules A-E and taxed at rates from 0-20% depending
This document contains questions and answers related to VAT audit issues. Some key points addressed include:
- A dealer changing from the composition scheme to the normal VAT system does not need to declare stock on hand from the previous year.
- A works contractor under the composition scheme is not eligible for standard deductions before tax is levied.
- Excess purchases in one period under the composition scheme for retailers cannot be adjusted in later periods.
- A contractor can issue Form C for materials purchased from outside Maharashtra if used for works contracts within Maharashtra.
- Modifying the CST registration to include a capital asset is necessary before Form C can be issued for its purchase.
The document discusses an order by the Bombay High Court regarding Vodafone India issuing shares to its non-resident holding company, Vodafone Holdings. The key details are:
1) Vodafone India issued shares to Vodafone Holdings to raise funds for a telecommunications project in India.
2) The tax authorities made a transfer pricing adjustment of over Rs. 1,300 crores regarding the share issuance price.
3) Vodafone India challenged this in the Bombay High Court. The High Court ultimately ruled in favor of Vodafone India, finding that the share issuance was not subject to transfer pricing regulations.
The document provides information on various sales tax forms relevant for MRO activities at RIL, including Form C for inter-state purchases, Form F for inter-state stock transfers, and Form I for inter-state sales to SEZ customers. It also discusses standardizing inbound and outbound warehouse registers, early payment incentives (EPI) including projections and analysis, and deemed exports including advance authorization schemes and RIL's process for deemed export orders.
Presentation on public procurement and competition concern11Dhruv Bhatia
Public procurement involves government agencies obtaining goods, services, and technologies using public funds. It contributes 15-20% of GDP in India and is governed by rules like the General Financial Rules. Major areas of public procurement include defense, railways, health, and telecom which together account for around 50% of public procurement. The primary objective is to achieve value for money by procuring best goods and services at lowest cost. Common procurement mechanisms involve a tendering process with separate evaluation of technical and financial bids. Some examples of bid rigging in public procurement cases in India include companies submitting identical bids or dividing markets. Factors that can indicate bid rigging include identical pricing, last minute adjustments to bids, and suppliers meeting privately before submitting
Prequalification Presentation for the Small Business Boot Campcimone
The document provides information about the Los Angeles Unified School District's prequalification program for contractors interested in bidding on public works projects. It outlines the program's goals of identifying quality contractors through a uniform rating system to obtain the best quality construction at the lowest cost. The prequalification process requires contractors to complete a safety questionnaire and be prequalified before submitting bids. The presentation also reviews the specific components of the safety questionnaire, including providing insurance and workers' compensation information, injury rates, and OSHA citation histories.
Revised Parking Rules Commercial Vehicles Ought to Know AboutLawrence Berezin
The NYC Department of Finance recently promulgated some tough, new rules to aide it's collection of parking fines from companies making deliveries and service calls in NYC. These rules impact companies in the Commercial Abatement Program and Stipulated Fine Program.
Registration of MVAT (Maharashtra Value Added Tax)Tushar Kharate
This document provides information about registration under the Maharashtra Value Added Tax (MVAT) Act of 2002. It outlines the types of dealers liable to pay tax, including those with turnover above certain limits. It also details the documents required for initial registration and registration changes, such as proof of business constitution, address, bank account, and payment of fees. Finally, it lists the tax rates for different schedules of goods under the MVAT Act.
VAT (value added tax) has replaced sales tax in India, including in Maharashtra, to establish a uniform, transparent taxation system. VAT is collected from producers and sellers on the incremental value added at each stage of production and distribution. In Maharashtra, VAT is governed by the MVAT Act and applies to the sale of goods at rates from 1-20% according to schedules. Key VAT concepts include the definition of goods, dealers, importers, and sales/purchase prices. Manufacturers and businesses with over 1 lakh annual sales or 10,000 rupees of taxable purchases/sales annually must register and file VAT returns electronically monthly, quarterly, or half-yearly.
Find out the detailed explanation of the provisions related to Place of Supply under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
MVAT (Maharashtra Value Added Tax) is a multi-stage tax system applied to sales at each stage of production and distribution. VAT aims to tax value addition at each stage, allowing businesses to claim credit for taxes paid on purchases. The key aspects covered are registration limits, tax rates, forms for filing returns, payment due dates, input tax credit provisions, and penalties for non-compliance.
This document provides an overview of the Maharashtra Value Added Tax (MVAT) system. It discusses the introduction of VAT globally and in India, as well as an overview of MVAT in Maharashtra. The key aspects covered include the MVAT Act and rules, registration requirements, tax invoices, rates and classifications, input credit/set off rules, payment requirements, returns, and TDS requirements. Methods of calculating VAT liability for normal dealers and works contractors are also summarized.
Supply under GST (goods and services tax)Aashi90100
This document provides definitions and explanations of key terms under the Goods and Services Tax (GST) in India such as goods, services, taxable person, supplier, recipient, location of supply, and place of business. It explains concepts like input service distributor, usual place of residence, principal place of business, and fixed establishment. The document aims to outline the scope and coverage of entities, transactions, and locations that would be subject to GST in India.
The document discusses customs duties in India. It outlines that [1] customs duties are levied on imports and exports according to the Customs Act of 1962 and Customs Tariff Act of 1975, [2] basic customs duty is charged on all imported goods at rates specified in the Customs Tariff Act, and [3] additional duties include an additional countervailing duty equal to internal excise duties and an education cess.
MVAT is a system of indirect taxation introduced in Maharashtra as a replacement for sales tax. It is a tax added at each stage of production and distribution, which is ultimately passed on to the consumer. VAT aims to create a uniform, transparent, and globally accepted tax structure. It benefits consumers, businesses, and the government. VAT rates in Maharashtra range from 0% to 20% depending on the good or service. MVAT applies to all dealers and importers whose annual sales or purchases exceed certain thresholds.
Value added tax (VAT) is a multi-point tax collected on value addition at different stages of sale. State VAT laws are enacted based on a white paper from the empowered committee of state finance ministers that provided the basic design. While the basic design is harmonized, states have freedom for variations consistent with the design. The purpose of VAT introduction was to harmonize tax structures across states and rationalize the overall tax burden.
Transfer pricing report guidelines and safe harbour rulesANAND GAWADE
This document discusses transfer pricing services for companies with international transactions. It provides an overview of key transfer pricing concepts and requirements in India, including:
1) Calculating arm's length pricing and preparing transfer pricing documentation for tax authorities.
2) Common transfer pricing methods like comparable uncontrolled price, resale price, and cost plus.
3) What constitutes an international transaction and associated enterprises according to Indian law.
4) Documentation requirements like ownership details and foreign group profiles that must be maintained for international deals.
TransPrice presents to you TransPrice Times for December 2014 & January 2015.
The subject of transfer pricing is ever evolving. This newsletter endeavors to keep you updated with recent happenings in the transfer pricing regime. We aim to provide information on the latest case laws pronounced. Trust you will find it useful.
Happy reading !!!
This document provides information about the Competition Act, 2002 and Consumer Protection Act, 1986 in India.
It discusses key aspects of the Competition Act including its objectives to ensure fair competition, prohibit anti-competitive practices, and establish the Competition Commission of India (CCI). It outlines anti-competitive practices the Act aims to stop like price fixing. It also describes the roles of the CCI and Director General in investigating violations.
The document also summarizes the Consumer Protection Act, providing definitions of key terms and outlining the consumer rights it aims to protect. It describes the 3-tier structure for consumer grievance redressal including district, state, and national consumer forums and commissions.
The summary briefly introduces the
This document discusses registration requirements under the Goods and Services Tax (GST) law in India. It defines a taxable person as someone who is registered or liable to be registered under the GST law. It outlines the thresholds and circumstances under which registration is mandatory, including if annual turnover exceeds 20 lakhs rupees. It also discusses the process and timelines for applying for different types of GST registrations like regular, casual, non-resident taxpayers. Finally, it lists the various forms involved in the registration, amendment, cancellation and other processes.
PDHPE teaches students about active lifestyles, safety, growth and development, interpersonal relationships, and personal health choices. It helps children develop interacting, communicating, moving, problem solving, and decision making skills. PDHPE is important as it encourages understanding of self and others, develops the ability to make independent decisions that could affect the future, and promotes lifelong involvement in physical activity.
The document discusses an order by the Bombay High Court regarding Vodafone India issuing shares to its non-resident holding company, Vodafone Holdings. The key details are:
1) Vodafone India issued shares to Vodafone Holdings to raise funds for a telecommunications project in India.
2) The tax authorities made a transfer pricing adjustment of over Rs. 1,300 crores regarding the share issuance price.
3) Vodafone India challenged this in the Bombay High Court. The High Court ultimately ruled in favor of Vodafone India, finding that the share issuance was not subject to transfer pricing regulations.
The document provides information on various sales tax forms relevant for MRO activities at RIL, including Form C for inter-state purchases, Form F for inter-state stock transfers, and Form I for inter-state sales to SEZ customers. It also discusses standardizing inbound and outbound warehouse registers, early payment incentives (EPI) including projections and analysis, and deemed exports including advance authorization schemes and RIL's process for deemed export orders.
Presentation on public procurement and competition concern11Dhruv Bhatia
Public procurement involves government agencies obtaining goods, services, and technologies using public funds. It contributes 15-20% of GDP in India and is governed by rules like the General Financial Rules. Major areas of public procurement include defense, railways, health, and telecom which together account for around 50% of public procurement. The primary objective is to achieve value for money by procuring best goods and services at lowest cost. Common procurement mechanisms involve a tendering process with separate evaluation of technical and financial bids. Some examples of bid rigging in public procurement cases in India include companies submitting identical bids or dividing markets. Factors that can indicate bid rigging include identical pricing, last minute adjustments to bids, and suppliers meeting privately before submitting
Prequalification Presentation for the Small Business Boot Campcimone
The document provides information about the Los Angeles Unified School District's prequalification program for contractors interested in bidding on public works projects. It outlines the program's goals of identifying quality contractors through a uniform rating system to obtain the best quality construction at the lowest cost. The prequalification process requires contractors to complete a safety questionnaire and be prequalified before submitting bids. The presentation also reviews the specific components of the safety questionnaire, including providing insurance and workers' compensation information, injury rates, and OSHA citation histories.
Revised Parking Rules Commercial Vehicles Ought to Know AboutLawrence Berezin
The NYC Department of Finance recently promulgated some tough, new rules to aide it's collection of parking fines from companies making deliveries and service calls in NYC. These rules impact companies in the Commercial Abatement Program and Stipulated Fine Program.
Registration of MVAT (Maharashtra Value Added Tax)Tushar Kharate
This document provides information about registration under the Maharashtra Value Added Tax (MVAT) Act of 2002. It outlines the types of dealers liable to pay tax, including those with turnover above certain limits. It also details the documents required for initial registration and registration changes, such as proof of business constitution, address, bank account, and payment of fees. Finally, it lists the tax rates for different schedules of goods under the MVAT Act.
VAT (value added tax) has replaced sales tax in India, including in Maharashtra, to establish a uniform, transparent taxation system. VAT is collected from producers and sellers on the incremental value added at each stage of production and distribution. In Maharashtra, VAT is governed by the MVAT Act and applies to the sale of goods at rates from 1-20% according to schedules. Key VAT concepts include the definition of goods, dealers, importers, and sales/purchase prices. Manufacturers and businesses with over 1 lakh annual sales or 10,000 rupees of taxable purchases/sales annually must register and file VAT returns electronically monthly, quarterly, or half-yearly.
Find out the detailed explanation of the provisions related to Place of Supply under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
MVAT (Maharashtra Value Added Tax) is a multi-stage tax system applied to sales at each stage of production and distribution. VAT aims to tax value addition at each stage, allowing businesses to claim credit for taxes paid on purchases. The key aspects covered are registration limits, tax rates, forms for filing returns, payment due dates, input tax credit provisions, and penalties for non-compliance.
This document provides an overview of the Maharashtra Value Added Tax (MVAT) system. It discusses the introduction of VAT globally and in India, as well as an overview of MVAT in Maharashtra. The key aspects covered include the MVAT Act and rules, registration requirements, tax invoices, rates and classifications, input credit/set off rules, payment requirements, returns, and TDS requirements. Methods of calculating VAT liability for normal dealers and works contractors are also summarized.
Supply under GST (goods and services tax)Aashi90100
This document provides definitions and explanations of key terms under the Goods and Services Tax (GST) in India such as goods, services, taxable person, supplier, recipient, location of supply, and place of business. It explains concepts like input service distributor, usual place of residence, principal place of business, and fixed establishment. The document aims to outline the scope and coverage of entities, transactions, and locations that would be subject to GST in India.
The document discusses customs duties in India. It outlines that [1] customs duties are levied on imports and exports according to the Customs Act of 1962 and Customs Tariff Act of 1975, [2] basic customs duty is charged on all imported goods at rates specified in the Customs Tariff Act, and [3] additional duties include an additional countervailing duty equal to internal excise duties and an education cess.
MVAT is a system of indirect taxation introduced in Maharashtra as a replacement for sales tax. It is a tax added at each stage of production and distribution, which is ultimately passed on to the consumer. VAT aims to create a uniform, transparent, and globally accepted tax structure. It benefits consumers, businesses, and the government. VAT rates in Maharashtra range from 0% to 20% depending on the good or service. MVAT applies to all dealers and importers whose annual sales or purchases exceed certain thresholds.
Value added tax (VAT) is a multi-point tax collected on value addition at different stages of sale. State VAT laws are enacted based on a white paper from the empowered committee of state finance ministers that provided the basic design. While the basic design is harmonized, states have freedom for variations consistent with the design. The purpose of VAT introduction was to harmonize tax structures across states and rationalize the overall tax burden.
Transfer pricing report guidelines and safe harbour rulesANAND GAWADE
This document discusses transfer pricing services for companies with international transactions. It provides an overview of key transfer pricing concepts and requirements in India, including:
1) Calculating arm's length pricing and preparing transfer pricing documentation for tax authorities.
2) Common transfer pricing methods like comparable uncontrolled price, resale price, and cost plus.
3) What constitutes an international transaction and associated enterprises according to Indian law.
4) Documentation requirements like ownership details and foreign group profiles that must be maintained for international deals.
TransPrice presents to you TransPrice Times for December 2014 & January 2015.
The subject of transfer pricing is ever evolving. This newsletter endeavors to keep you updated with recent happenings in the transfer pricing regime. We aim to provide information on the latest case laws pronounced. Trust you will find it useful.
Happy reading !!!
This document provides information about the Competition Act, 2002 and Consumer Protection Act, 1986 in India.
It discusses key aspects of the Competition Act including its objectives to ensure fair competition, prohibit anti-competitive practices, and establish the Competition Commission of India (CCI). It outlines anti-competitive practices the Act aims to stop like price fixing. It also describes the roles of the CCI and Director General in investigating violations.
The document also summarizes the Consumer Protection Act, providing definitions of key terms and outlining the consumer rights it aims to protect. It describes the 3-tier structure for consumer grievance redressal including district, state, and national consumer forums and commissions.
The summary briefly introduces the
This document discusses registration requirements under the Goods and Services Tax (GST) law in India. It defines a taxable person as someone who is registered or liable to be registered under the GST law. It outlines the thresholds and circumstances under which registration is mandatory, including if annual turnover exceeds 20 lakhs rupees. It also discusses the process and timelines for applying for different types of GST registrations like regular, casual, non-resident taxpayers. Finally, it lists the various forms involved in the registration, amendment, cancellation and other processes.
PDHPE teaches students about active lifestyles, safety, growth and development, interpersonal relationships, and personal health choices. It helps children develop interacting, communicating, moving, problem solving, and decision making skills. PDHPE is important as it encourages understanding of self and others, develops the ability to make independent decisions that could affect the future, and promotes lifelong involvement in physical activity.
This document is a letter from Bharat Sanchar Nigam Limited (BSNL), a Government of India enterprise, to heads of various BSNL administrative units. It forwards instructions from the Department of Personnel and Training regarding compliance with the Lokpal and Lokayuktas Act, 2013. As per the Act, all public servants under BSNL must submit declarations of their assets and liabilities as of March 31st each year to competent authorities by July 31st. The letter instructs BSNL unit heads to ensure these declarations are uploaded to the company website by the deadline of September 15th.
In July, the author's school took a trip to Pedra Azul, ES to visit and study the beautiful and calm area surrounded by Mata Atlântica forest. In August, Giuliana went to Ouro Preto, MG where she took pictures of an impressive waterfall and mountain scenery common to the area, which can be seen from the train between Ouro Preto and Mariana along with many beautiful mountains around Ouro Preto.
PDHPE in K-6 allows students to explore body movements and sports, learn about health, safety, and identity. It teaches them road safety, water safety, healthy eating by understanding food groups and the body, and helps them understand identity and development. Most importantly, it teaches students how to work together, build relationships, and have fun while staying healthy.
Teaching essential life skills in primary schools is important for several reasons. It helps students develop key competencies like communication, decision-making, problem-solving, and interacting with others. The curriculum covers topics like drug education, sexual health, safety, relationships, and nutrition to promote a healthy, balanced lifestyle. Exposing children to these subjects early allows them to form lifelong habits for a better quality of life and helps them contribute positively to society with the necessary skills and values for adulthood.
El documento describe la historia de las tecnologías de la información y la comunicación en México desde 1958 hasta 2003, mencionando los modelos de computadoras utilizados en diferentes instituciones como la UNAM, el IPN y PEMEX en cada año, incluyendo los modelos IBM-650, Bendix 6T15, Gamma 30, IBM-360, Apple-1, Apple-2, TRS-80, HP-85, IBM-PC y PowerPC.
Isabel y adriana Elementos de un sistema de computaciónIsabelPN
Las unidades de almacenamiento incluyen discos duros, discos extraíbles, discos compartidos en red, DVD, CD-ROM, disquetes, memoria flash y tarjetas de memoria, que permiten almacenar y acceder a datos de forma permanente o temporal.
Lucy acepta entregar un portafolio por dinero. Es drogada y operada para insertarle una bolsa de drogas sintéticas en el vientre con el fin de traficarla. La droga le provoca una evolución acelerada de sus capacidades mentales y físicas, lo que le permite adquirir habilidades sobrehumanas y vengarse de sus captores.
El documento describe tres métodos para resolver sistemas de ecuaciones lineales: sustitución, igualación y reducción. También discute casos especiales como sistemas incompatibles o con infinitas soluciones. Explica cada método con ejemplos numéricos y enfatiza la importancia de comprobar la solución.
This document describes a 4 month part-time induction process for potential business entrepreneurs to join a company called Photon as direct partners or employees. The process involves weekly training sessions over 6-8 hours to develop technical, service, business, and customer generation skills. Trainees will learn about the company's products, services, business processes and systems. Successful completion could lead to financial rewards up to Rs. 100,000. Applicants must submit a refundable deposit of Rs. 22,800 to join.
This document summarizes the professional experience of an individual as a Senior Consultant at KPMG from May 2005 to December 2009. Some of the key responsibilities included providing tax compliance services, advising on tax litigation issues for several SEC and Indian listed companies, liaising with lawyers on agreements, advising on withholding taxes and international tax treaties, working on transfer pricing documentation and tax provisioning for audit clients, advising foreign companies on tax issues for opening an Indian branch, training other employees, and assisting with FIN 48 related tax opinions.
This document summarizes the professional experience of an individual as a Senior Consultant at KPMG from May 2005 to December 2009. Some of the key responsibilities included providing tax compliance services, advising on tax litigation issues for several SEC and Indian listed companies, liaising with lawyers on agreements, advising on withholding taxes and international tax treaties, working on transfer pricing documentation and tax provisioning for audit clients, advising foreign companies on opening branches in India, training other employees, and assisting with FIN 48 related tax opinions.
1. The document discusses various aspects of revenue recognition under Indian accounting standards including the definition of revenue, importance of revenue, revenue recognition principles, special transactions involving revenue, accounting for construction contracts, government grants, foreign exchange transactions, real estate transactions, and challenges in revenue recognition.
2. It provides details on the conditions that must be satisfied for revenue recognition, methods for measuring revenue for different types of contracts and services, and the seller's responsibilities under various Incoterms rules.
3. Common problems with revenue recognition are discussed including issues for e-commerce, telecom, real estate, construction contracts, and other complex transactions.
This document provides a profile summary for Palak Patni, including her education and work experience as an Assistant Manager at KPMG Mumbai since July 2011. Her responsibilities at KPMG include assisting clients with international tax advisory and compliance, corporate tax advisory and litigation, and Companies Act compliances. She has experience in areas such as FEMA regulations, tax returns, tax audits, and corporate tax planning. Her educational qualifications include a B.Com from DAVV Indore and passing the CA Final and CS Executive exams.
This document discusses various aspects of the Value Added Tax (VAT) and CENVAT credit rules in India. It provides details on features of VAT, cascading effects under the current tax system, concept of credit, steps taken towards tax integration, eligibility for credit, inputs and input services eligible for credit, and some case studies related to input services. The key information conveyed is that VAT aims to be a multi-stage indirect tax without cascading effects, while the current tax system leads to inefficiencies due to cascading of taxes. It also explains the concept and importance of cenvat credit for businesses.
TransPrice Times - October & November 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the month of October & November 2017.
This periodical covers key court rulings on the issues of entity level approach over transactional approach, treaty benefits, receivables from an associated enterprise, royalty & TDS provisions, and real income theory. Apart from this, recent news relating to India's stand on MAP and bilateral APA applications has been discussed in the periodical.
Thank You and Happy Reading!!
This document provides a summary of Vadiraja Rao's professional experience and qualifications. He has over 25 years of experience in indirect taxation, import/export management, and financial management for software companies. Currently he works as a freelancer providing indirect tax compliance services for several organizations. Previously he held managerial roles managing indirect taxation for large companies like Mphasis Ltd and handled commercial operations for Biological E-Limited. He has extensive expertise in areas like customs duty, excise affairs, STPI/SEZ compliance, and liaising with government agencies.
Mr. Javed Sharif, a chartered accountant, received a request from his client Fuzzy Trading Limited to represent them in an income tax appeal involving a disputed amount of 30 million BDT. The client proposed a basic fee of 100,000 BDT plus a contingent fee of 50,000 BDT for every 5 million BDT reduction in tax demand. Accepting contingent fees may threaten Mr. Sharif's objectivity and compliance with ethics principles. He should evaluate potential threats and consider adopting safeguards such as a written agreement and independent review if he accepts the engagement.
Nirbhaya and Associates provides Auditing, Taxation, Management Consultancy and provides Taxation, Company, Investments, Accounting, Auditing, Financial services, Management Consultancy and Advisor Services to various corporate and commercial clients, NGO'S as well as individuals throughout India and abroad. The firm represents a combination of specialized skills, which are geared to offers sound financial solutions and services.
We have a stated policy of ensuring that quality services are offered to our clients, irrespective of their location and size. We have achieved this by bringing the professional and analytical skills, to every single assignment, that are developed through the academic backgrounds, internal training, ongoing professional education and engagement experience of our members.
The organization is a congregation of professionally qualified and experienced personnel, who are dedicated to add value and optimize the benefits accruing to our clients. The company is presently managed by so many associates. Being a team of competent people with broad experience in a gamut of financial services, we are capable of providing solutions for different requirements like-
INCOME TAX
SERVICE TAX
VAT/SALES TAX
SOCIETY/TRUST/ NGO
COMPANY PVT.LTD./ LTD.
PARTNERSHIP FIRM
PROPRIETORSHIP FIRM
IMPORT-EXPORT
COMPLIANCE SERVICES
TM / COPYRIGHT / PATENT/DESIGN
EXCISE / CUSTOMS
ACCOUNTING
AUDITING
INVESTMENTS / INSURANCE/TAX PLANNING
ISO 9001/ISI/AGMARK
LOANS
LABOUR LAWS
ACCOUNT EDUCATION
DEED/POA/CERTIFICATE/AGREEMENT etc
BACK OFFICE MANAGEMENT FOR NGO'S
Nirbhaya and Associates provides Auditing, Taxation, Management Consultancy and provides Taxation, Company, Investments, Accounting, Auditing, Financial services, Management Consultancy and Advisor Services to various corporate and commercial clients, NGO'S as well as individuals throughout India and abroad. The firm represents a combination of specialized skills, which are geared to offers sound financial solutions and services.
We have a stated policy of ensuring that quality services are offered to our clients, irrespective of their location and size. We have achieved this by bringing the professional and analytical skills, to every single assignment, that are developed through the academic backgrounds, internal training, ongoing professional education and engagement experience of our members.
The organization is a congregation of professionally qualified and experienced personnel, who are dedicated to add value and optimize the benefits accruing to our clients. The company is presently managed by so many associates. Being a team of competent people with broad experience in a gamut of financial services, we are capable of providing solutions for different requirements like-
INCOME TAX
SERVICE TAX
VAT/SALES TAX
SOCIETY/TRUST/ NGO
COMPANY PVT.LTD./ LTD.
PARTNERSHIP FIRM
PROPRIETORSHIP FIRM
IMPORT-EXPORT
COMPLIANCE SERVICES
TM / COPYRIGHT / PATENT/DESIGN
EXCISE / CUSTOMS
ACCOUNTING
AUDITING
INVESTMENTS / INSURANCE/TAX PLANNING
ISO 9001/ISI/AGMARK
LOANS
LABOUR LAWS
ACCOUNT EDUCATION
DEED/POA/CERTIFICATE/AGREEMENT etc
BACK OFFICE MANAGEMENT FOR NGO'S
Vishnu Bahadur has over 6 years of experience working as a Cost Accountant and Finance Superintendent for large companies like ITC Limited and Adhunik Metaliks Ltd. He has extensive experience with SAP FI and MM modules, accounts payable, commercial taxes, costing, and preparing budgets and reports for senior management. He is proficient in MS Office applications and has strong skills in accounting, financial analysis, and people management. Currently he works as a Finance Superintendent for ITC Limited, managing accounts payable, wages, commercial taxes, and other financial processes.
This document provides an overview of trade remedial measures (TRM) in India, including anti-dumping duties, countervailing duties, and safeguard duties. It discusses the history and rules around TRM in India, the process that domestic industries can use to seek protection from imports, and the role of the Directorate General of Anti-Dumping and Allied Duties. It also summarizes the application requirements, questionnaires, trends in TRM cases over time in India and other countries, and career opportunities in advising on and representing parties in TRM investigations.
Issue of marketing intangibles in India- Breath of Fresh AirAjit Kumar Jain
The document discusses a landmark Indian court ruling on the issue of transfer pricing adjustments made by tax authorities related to marketing intangibles. Specifically, the ruling addressed whether excessive advertising, marketing and promotional expenses incurred by Indian affiliates of multinational enterprises constituted an international transaction under Indian tax law. The court rejected arguments made by taxpayers and held that such expenses were international transactions. It also held that the transactional net margin method could be used to evaluate pricing when marketing and distribution functions are interrelated. The court provided clarity on several issues around marketing intangibles, but questions remain about applying its principles to licensed manufacturers.
Objectives & Agenda :
Transfer Pricing is one of the most litigious areas in Taxation. In this Webinar we shall look at some of the recent Judicial Precedents in Transfer Pricing Law with the aim of understanding the issues which arise and the views taken by the Authorities and the Court of Law. The Webinar discusses the facts of the case, issues and the Principles held by the Courts in each of these Decisions.
Lawyer in Vietnam Oliver Massmann Taxation Permanent EstablishmentDr. Oliver Massmann
The document discusses several issues related to taxation in Vietnam and proposes requests to the Vietnamese government and Ministry of Finance. It addresses topics such as investment protection, expenses related to parent company service contracts, warranty terms in sale contracts with foreign contractors, determining permanent establishment for tax exemption, management fees, customs procedures for export processing enterprises, VAT rates on imported raw materials, and VAT refund issues. The document seeks consistent guidance and policies from the government to address these taxation issues and create a favorable business environment for foreign investors and enterprises operating in Vietnam.
Virender Kumar Bhatia has over 28 years of experience in procurement, sourcing, exports/imports, inventory management, and team leadership. He currently works as Deputy General Manager at Estel Technologies, where he is responsible for procurement, techno-commercial operations, export/import, inventory management, and key account management. Previously he held procurement and commercial roles at RPG Transmission Limited and CEAT Limited, where he successfully managed imports/exports, obtained necessary licenses and incentives, and ensured timely supplies.
Michael Vincent U. Sia is a Director at A.M. Yu & Associates specializing in corporate taxation in the Philippines. He has over 10 years of experience in tax advisory and compliance services. He is pursuing a Juris Doctor degree from the University of East, where he obtained a Bachelor's degree in Accountancy. His expertise includes tax planning, compliance, and resolving tax issues for clients in various industries.
1. The document discusses service tax and CENVAT credit rules in India, including who is eligible for credit, on what goods and services credit can be claimed, and accounting treatment.
2. There are three options for claiming credit for taxable and exempted activities, including full credit with record keeping, composite schemes based on output or input, and proportionate credit.
3. Issues addressed include credit eligibility for service recipients, internal allocation of duties, and tax treatment of exports and SEZ units.
Dear Members,
We are pleased to present TransPrice Times for the first fortnight of April 2017.
This periodical covers some key aspects from transfer pricing and international taxation, including rulings on foreign tax credit, royalties, benefit test and withholding taxes. For all the innovators, it is important to note the release of Form No. 3CFA for obtaining tax relief under patent box regime under S. 115BBF of the Income-tax Act 1961.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
1. ARVIND ARORA
H.No. 432, Sector 16 A
Faridabad – 121002
Tel:0129- 2263424 (Resi.)
Cell # 9810400221
Email: arvindaroraadvocate@gmail.com
Job Objective
Assignment in Law Firm dealing in Indirect Taxation/Senior Management Position in legal/
Indirect Taxation.
Summary of Skills and Experience
• Over 24 years of experience in managing the Indirect Taxes, Legal & Commercial functions.
• Extensive experience in the area of Excise, Service tax & Customs & exposure to handling
Import and Export management.
• Preparation of replies to show cause notices, cross objections, counter submissions & appeals.
• Have independently handled cases up to Tribunal level.
• LL.B., M.B.A., Diploma in Export Management & Diploma in Cyber law.
ORGANISATIONAL EXPERIENCE
Have experience in handling the following functional areas:
Excise, Service tax & Customs
• Handling matters relating to Excise, Service Tax & Customs.
• Coordinating all activities for EA-2000 Audit.
• Conducting internal audit for the company.
• Compliance of Statutory provisions.
Legal
• Preparation of replies to Show Cause Notices, Cross objections, Counter submissions, Appeals
& Applications before Settlement Commission.
• Drafting Legal opinions & Replies to the Queries raised by the Clients.
• Advising various companies in matters pertaining to Excise, Service tax & Customs.
• Independently handling cases up to Tribunal level.
• Preparing legal briefs for the Advocates of High Court / Supreme Court.
• Vetting of agreements and handling civil and commercial disputes.
• Have represented the Company before the Additional Sessions Judges in cases pertaining to
quality standards.
Import & Export
• Handling import of materials from Japan.
• Looking after export-related activities for export consignments for USA, Taiwan and Korea.
• Negotiating with Custom house agents for shipment rates.
• Bonding and de-bonding by preparation & filing of yellow/green bill of entry.
• Clearing of goods from private customs bonded warehouse/C.W.C.
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2. Liaisoning/ Sales Co-ordination
• Liaisoning with Govt. agencies including Customs and Excise authorities.
• Coordinating with Sales team providing interface between marketing divisions
• Handling customer complaint reports
• MIS generation and monitoring.
Computerisation/ Documentation
• Developing customized programmes for different billing requirement of customers.
• Carried out the complete documentation of excise records for new plants.
Logistics Management
• Monitoring of goods between various companies of the Group.
• Coordinating the movement of finished goods & monitoring and controlling logistics cost.
EMPLOYMENT HISTORY:
Since July, 2009 Providing consultancy to Companies
Including Tata Sky Ltd., New Delhi,
Uflex Ltd., Noida, Surya Roshni Ltd.,
New Delhi, Montage Enterprises Pvt.
Ltd., Noida, Fresenius Kabi
Oncology Ltd.,Gurgaon. I am also on
the panel of Law Firm, namely, S.P.
Nagrath & Co., A-380, Defence Colony,
New Delhi.
Consultant
July, 2006 to June., 2009 Lakshmi Kumaran & Sridharan
B-6/13, S.J. Enclave, New Delhi
Advocate
April, 2002 to June, 2006 Flex Industries Ltd., Noida
(2000 Crore group)
Joint Executive
Manager
April, 1999 to March, 2002 JBM Tools Ltd.,Faridabad
(1000 Crore group)
Deputy Manager
January,, 1995 to March, 1999 Imperial Auto Industries Ltd., FBD.
(100 crore group)
Deputy Manager
January, 1993 to December., 1994 Shri G. S. Bhangoo Chandigarh
(Advocate & Consultant)
Advocate
April, 1989 to December, 1992 Munak Chemicals Ltd, Chandigarh
(75 crore group)
Law Officer
June, 1986 to March, 1989 Shri H. N. Mehtani, Chandigarh
(Senior Advocate-High Court)
Junior Advocate
A. Current Position:
Since 1.7.2009, I am providing consultancy to Companies including Tata Sky Ltd., Uflex Ltd.,
Surya Roshni Ltd., Montage Enterprises Pvt. Ltd. & Fresenius Kabi Oncology Ltd. I am also
on the panel of Law Firm, namely, S.P. Nagrath & Co., New Delhi. I am rendering advice in
matters pertaining to indirect taxation and preparing replies to Show Cause Notices, Appeals etc. I
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3. am also making appearance before quasi-judicial authorities upto CESTAT in various matters
pertaining to indirect taxation.
Synopsis of the work done by me for my Clients is as under:
Tata Sky Ltd.
Answering the queries;
Handling Customs matters of Tata Sky at the Group level, involving the issues including
Applicability of Notification No.6/2006-C.E. to imported pre-recorded Smart Cards for
the purpose of exemption from CVD; Classification of Low Noise Block Down Converters;
Valuation of imported Set Top Boxes for assessment to CVD in a situation where Cost
price of imported Set Top Boxes is more than the Retail Sale Price declared thereon;
Drafting of letters, replies, appeals & attending personal hearings before various
quasi-judicial authorities all over India up to CESTAT level.
Uflex Ltd.
Answering the queries pertaining to Central Excise and Service Tax matters;
Handling litigation matters of Uflex at the Group level, involving the issues including
Valuation of finished goods under Section 4 of the Central Excise Act for the purpose of
payment of duty; Admissibility of cenvat credit of service tax paid on input services in
question used in the manufacture of job-worked goods cleared without payment of duty
under Notification No.214/86-C.E. to the Principal manufacturer; leviability of service tax
on Salary/wages of employees recovered on actual basis by the Lessor of P&M from the
Lessee for whom employees were allowed by the Lessor to work for under ‘Manpower
Recruitment or Supply Agency’ service; Whether Cenvat Credit can be utilized for the
purpose of payment of Service Tax on GTA service; Whether an amount equal to credit
availed on Capital Goods is liable to reversed in a situation where cenvated capital
goods have been sold after having been used in the factory for about 8 years;
Admissibility of cenvat credit of service tax paid on various input services including Air
craft management service, Custodial Service, Debenture Trusteeship Service,
Group Personal Accident Insurance service, Vehicle Insurance service, Servicing
& Repair of vehicles service, Rent-a-Cab service Plant Housekeeping service, Pest
Control service , FCCB service & GTA service; Imposition of Penalty under Rules
25/26 of the Central Excise Rules,2002/Rule 15 of the Cenvat Credit Rules,2004;
Drafting of letters, replies, appeals & attending personal hearings before various
quasi-judicial authorities all over India up to CESTAT level;
Have also guided Officials of Uflex on changes brought about in the Service Tax
under the new dispensation effective from 1.7.2012.
S.P. Nagrath & Co.( Law Firm)
Drafting of Legal Opinions(prepared Legal Opinion for their Client Alba Urmet,
Gurgaon on the issue as to whether querist is legally entitled to engage in the
trading of identical/similar imported goods);
Drafting of replies, Appeals( prepared Appeal for their Client Albion Consulting
Pvt. Ltd., New Delhi involving the issue regarding confiscation of imported goods
in a situation where excess quantity was inadvertently declared by the importer
due to mistake on the part of the foreign supplier);
Attending personal hearings before the quasi-judicial authorities up to CESTAT
level;
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4. Answering queries in the Indirect Taxation matters.
Montage Enterprises Pvt. Ltd.
Answering day-to day queries pertaining to Central Excise and Service Tax matters;
Handling litigation matters of Montage Enterprises at the Group level, involving the
issues including leviability of Central Excise Duty on Aluminium Dust; leviability of
interest on differential duty paid under Supplementary invoices; Includibility of
discounts extended to the buyers in the assessable value of finished goods under Section 4
of the Central Excise Act; Admissibility of cenvat credit of service tax paid on various
input services including Telephone Connection service, Courier service, Rent-a-Cab
service & Cargo Handling service;
Drafting of letters, replies, appeals & attending personal hearings before various
quasi-judicial authorities up to CESTAT level;
Have also guided Officials of Montage Enterprises on changes brought about in
the Service Tax under the new dispensation effective from 1.7.2012.
Surya Roshni Ltd.
Answering the queries;
Preparing replies (prepared reply to Show Cause Notice involving the issue regarding
Applicability of Exemption Notification No.10/2006-C.E. to Electric filament
Vacuum & Gas filled (GLS) bulbs of retail sale price not exceeding Rs.20/- per
bulb in the context of promotional marketing strategy of ‘Buy Two Get One Free’
scheme where consolidated retail sale price of ‘multi piece package’ (i.e. 2 + 1
free bulbs) was more than Rs.20/-).
Fresenius Kabi Oncology Ltd.
Answering the queries;
Drafting of Legal Opinions(prepared Legal Opinion on the issue regarding eligibility of
APIs/Bulk drugs in question to exemption under Notification No. 10/97-C.E. dated
1.03.97, as amended & Notification No.51/96- Cus. dated 23.07.96, as amended.
Miscellaneous
Have also handled issues for some other Companies including Asis Moulds(a Korean
Co.) regarding leviability of service tax on job charges collected for Drilling/
Machining/Addition of Ribs/ Profile matching/ Etching modifications undertaken
on moulds supplied to the job worker by the principal manufacturers; Samwon
Precision Mould Mfg. India Pvt. Ltd. regarding rebate of duty under the provisions of
Rule 18 of the Central Excise Rules, 2002 read with Notification No.19/2004-C.E.(N.T.)
dated 06.09.2004; drafted Legal Opinion for Le Creuset India Trading Pvt. Ltd. on
the issue of applicability of the provisions of Central Excise Act,1944, to the
imported goods in question proposed to be sold to the buyers in India on increased
MRP.
B. Previous Positions:
(a) Tenure with Lakshmi Kumaran & Sridharan – I have worked in Law Firm Lakshmi
Kumaran & Sridharan for about 3 years. During my tenure with Lakshmi Kumaran &
Sridharan, I have worked in the Legal Opinion & Consultancy Division and prepared
Legal Opinions/ replies to the queries raised by clients in matters pertaining to Central
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5. Excise, Service Tax, Customs & Foreign Trade Policy; Occasionally I have handled Sales
Tax/VAT & FEMA queries. I have also drafted replies to Show Cause Notices, Cross
objections & Appeals.
(b) Other Previous Positions:
• Have independently represented the companies before various quasi-judicial
authorities including Tribunal, Commissioner (Appeals), Commissioner & obtained
favourable orders in various cases concerning issues including Cenvat Credit,
Valuation, Rule 57CC/Rule 6, Clandestine Removal, Refund, Seizure, Confiscation &
Personal Penalty.
• Have contributed towards profitability/cost saving in the companies by suggesting
various measures and by providing timely legal advice on a host of issues pertaining to
day–to-day operations, resulting in reduction in litigation.
• Have guided the concerned officials of the various companies in respect of issues
pertaining to inter-sectoral credit across goods & services.
• Have ensured computerization of records resulting in efficiency and reduction in
manpower.
• Have contributed towards cost saving in the company by advising the companies to
pursue commercially viable route.
• Have successfully represented the Company in Quasi-Criminal cases before
Additional Sessions Judges.
• Have contributed towards cost saving/reduction in litigation by conducting internal
audit of the companies.
IT Skills
MS Office, Internet, E-mail.
Educational Qualifications
• LL.B. from Panjab University, Chandigarh in 1986.
• Diploma in Export Management from F.T.D.C, Delhi in 2001.
• Diploma in Cyber law from Amity Law School, Delhi in 2001.
• M.B.A. (Marketing) from IGNOU, Delhi in 2003
Date of Birth: 28th
June, 1963
(ARVIND ARORA)
# 9810400221
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6. Excise, Service Tax, Customs & Foreign Trade Policy; Occasionally I have handled Sales
Tax/VAT & FEMA queries. I have also drafted replies to Show Cause Notices, Cross
objections & Appeals.
(b) Other Previous Positions:
• Have independently represented the companies before various quasi-judicial
authorities including Tribunal, Commissioner (Appeals), Commissioner & obtained
favourable orders in various cases concerning issues including Cenvat Credit,
Valuation, Rule 57CC/Rule 6, Clandestine Removal, Refund, Seizure, Confiscation &
Personal Penalty.
• Have contributed towards profitability/cost saving in the companies by suggesting
various measures and by providing timely legal advice on a host of issues pertaining to
day–to-day operations, resulting in reduction in litigation.
• Have guided the concerned officials of the various companies in respect of issues
pertaining to inter-sectoral credit across goods & services.
• Have ensured computerization of records resulting in efficiency and reduction in
manpower.
• Have contributed towards cost saving in the company by advising the companies to
pursue commercially viable route.
• Have successfully represented the Company in Quasi-Criminal cases before
Additional Sessions Judges.
• Have contributed towards cost saving/reduction in litigation by conducting internal
audit of the companies.
IT Skills
MS Office, Internet, E-mail.
Educational Qualifications
• LL.B. from Panjab University, Chandigarh in 1986.
• Diploma in Export Management from F.T.D.C, Delhi in 2001.
• Diploma in Cyber law from Amity Law School, Delhi in 2001.
• M.B.A. (Marketing) from IGNOU, Delhi in 2003
Date of Birth: 28th
June, 1963
(ARVIND ARORA)
# 9810400221
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