Articles for Tax Credit

Mobile Towers Are Not Immovable Property, They Are Eligible For Input Tax Credit: Delhi High Court Allows Airtel's Plea
4 days, 9 hours ago

Mobile Towers Are Not Immovable Property, They Are Eligible For Input Tax Credit: Delhi High Court Allows Airtel's Plea

Live Law  

The Delhi High Court has held that mobile/ telecommunication towers are movable properties, eligible for availing input tax credit under the Central Goods and Services Tax Act, 2017. Agreeing, the High Court cited Vodafone Mobile Services Limited vs. Commissioner of Service Tax, Delhi whereby the Delhi HC had found that it would be incorrect to characterize mobile towers as immovable …

Delhi High Court Telecom Tax Property Court Held
Mobile Towers Are Not Immovable Property, They Are Eligible For Input Tax Credit: Delhi High Court Allows Airtel's Plea
4 days, 9 hours ago

Mobile Towers Are Not Immovable Property, They Are Eligible For Input Tax Credit: Delhi High Court Allows Airtel's Plea

Live Law  

The Delhi High Court has held that mobile/ telecommunication towers are movable properties, eligible for availing input tax credit under the Central Goods and Services Tax Act, 2017. Agreeing, the High Court cited Vodafone Mobile Services Limited vs. Commissioner of Service Tax, Delhi whereby the Delhi HC had found that it would be incorrect to characterize mobile towers as immovable …

Delhi High Court Telecom Tax Property Court Held
Department Failed To Prove Non-Existence Of Firms: Rajasthan High Court Grants Bail To Assessee Charged For Issuing Fake Invoices
2 weeks, 5 days ago

Department Failed To Prove Non-Existence Of Firms: Rajasthan High Court Grants Bail To Assessee Charged For Issuing Fake Invoices

Live Law  

The Rajasthan High Court granted bail to the assessee charged for issuing fake invoices to the firms on the ground that the department failed to prove that these firms are not in existence and their GST registration have been cancelled. The Bench of Justice Ganesh Ram Meena observed that “……there is nothing on record that who claimed how much input …

Bail Fake Accused Department Bench Firms Invoices
California plan that might cut Teslas from EV tax credit drives Elon Musk nuts
3 weeks, 3 days ago

California plan that might cut Teslas from EV tax credit drives Elon Musk nuts

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. California’s potential plan would likely not include Musk’s cars because the program would be …

Tesla California Musk Elon Musk Inside Washington Washington Email Tax Credits
Newsom says California will offer rebates on electric vehicles if Trump removes tax credit
3 weeks, 6 days ago

Newsom says California will offer rebates on electric vehicles if Trump removes tax credit

Hindustan Times  

California Governor Gavin Newsom has challenged Donald Trump amid the president-elect's proposed plans to eliminate the federal tax credit on electric vehicles. Newsom challenges Trump's plans to eliminate federal tax credits on electric vehicles “Consumers continue to prove the skeptics wrong – zero-emission vehicles are here to stay,” Newsom said in a statement, proposing a new version of the state’s …

Trump Electric Vehicles California State Newsom Tax Credit
Relief for Airtel, Vodafone, Tata Tele as Supreme Court grants tax credit on infra items
1 month ago

Relief for Airtel, Vodafone, Tata Tele as Supreme Court grants tax credit on infra items

Live Mint  

New Delhi: In a significant victory for telecom companies, the Supreme Court on Wednesday ruled in favour of Bharti Airtel and other operators, allowing them to claim central value-added tax or Cenvat credits on duties paid for key infrastructure items like tower components, shelters, and other related materials. This decision overturned a 2014 ruling by the Bombay high court, which …

India Delhi Infrastructure Supreme Court Telecom Tax Court
Trump’s transition team aims to kill Biden EV tax credit in US: Report
1 month, 1 week ago

Trump’s transition team aims to kill Biden EV tax credit in US: Report

Al Jazeera  

Ending the tax credit would gravely affect EV transition in the US even as it would help Tesla beat competitors. US President-elect Donald Trump’s transition team is planning to kill a $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, Reuters news agency has reported, citing two sources with direct knowledge of the matter. Tesla CEO …

Tesla Congress Trump Team Transition Republican Biden
Only Service Recipient, Not Service Provider, Can Claim Credit For Service Tax Paid Under Reverse Charge Mechanism: CESTAT
1 month, 1 week ago

Only Service Recipient, Not Service Provider, Can Claim Credit For Service Tax Paid Under Reverse Charge Mechanism: CESTAT

Live Law  

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has stated that even if service tax is paid under reverse charge mechanism by service recipient, it is the service recipient who can take credit of tax so paid and not service provider. Subba Rao has observed that “……so long as the service tax is paid on a …

Tax Credit Service Tribunal Paid Stat Provider
Harris Proposes Massive Child Tax Credit Increase as Election Looms
1 month, 3 weeks ago

Harris Proposes Massive Child Tax Credit Increase as Election Looms

Associated Press  

The child tax credit is a topic of significant discussion in the upcoming presidential election. Democrats seek a massive expansion of the tax credit, while Republicans have expressed support for increasing the tax credit but also concern that for some parents, it could become an incentive not to work. The stakes of this debate are high for parents who are …

Newsom calls for big boost in funding for California’s film and TV tax credit, throwing Hollywood a lifeline
1 month, 3 weeks ago

Newsom calls for big boost in funding for California’s film and TV tax credit, throwing Hollywood a lifeline

LA Times  

Gavin Newsom unveiled a proposal Sunday to more than double the annual amount of money allocated to California’s film and TV tax credit program as Hollywood struggles to compete with other production hubs dangling lofty incentives. Bass hailed the proposed measure, saying, “We have to do everything we can to strengthen and protect one of our foundational pillars in Los …

Georgia Film Tax Credit Production Hollywood California
Harris, Trump tax proposals: Who wins, who loses?
2 months ago

Harris, Trump tax proposals: Who wins, who loses?

Salon  

Eighty-one percent of voters say the economy is very important in the upcoming presidential election, according to Pew Research. Alajian said former President Donald Trump’s proposals would result in “overall lower taxes for the wealthy,” while Vice President Kamala Harris has a “focus on providing tax relief for lower-income families.” The president alone doesn’t set tax policy and would depend …

Credit Workers Income Policies Cuts Taxes Trump Palomarez
Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says
2 months, 2 weeks ago

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says

NPR  

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says toggle caption Saul Loeb/AFP via Getty Images With less than a month left until Election Day, both the Harris and Trump campaigns have presented their economic visions to the American people — including proposed tax cuts, border security spending and affordable housing policies. Trump's estimated …

Tax Taxes Border Security Social Security Debt Cost Harris
Child care is a ‘textbook example of a broken market.’ Where do Harris, Trump go from here?
4 months ago

Child care is a ‘textbook example of a broken market.’ Where do Harris, Trump go from here?

LA Times  

Children get help from staff during a class at Educare Los Angeles at Long Beach in March. The ‘broken child-care market’ Former U.S. Treasury Secretary Janet L. Yellen described the child care system in 2021 as “a textbook example of a broken market.” Child-care employees are some of the lowest-paid workers in the economy, at an average of $13.22 an …

Children Market Trump Democratic Families California Republican
Column: Trump says Harris stole his idea for exempting tips from tax, but her version beats his
4 months, 1 week ago

Column: Trump says Harris stole his idea for exempting tips from tax, but her version beats his

LA Times  

Democratic Presidential candidate Kamala Harris speaks at a rally in Las Vegas, where she unveiled a plan to raise the minimum wage and cut taxes on tips. “A meaningful share of tipped workers already pay zero federal income tax,” Tedeschi notes. Far more gains would be achieved by extending enhancements to the Earned Income Tax Credit and the Child Tax …

Tax Credit Trump Child Republican Harris Las Vegas
Senate rejects legislation that would expand child tax credit and restore business tax breaks
4 months, 3 weeks ago

Senate rejects legislation that would expand child tax credit and restore business tax breaks

Associated Press  

WASHINGTON — A bill to expand the child tax credit and restore some tax breaks for businesses failed to advance in the Senate on Thursday as Republicans largely opposed the measure, arguing they would be in position to get a better deal next year. He was also looking to counter assertions from Republican presidential nominee Donald Trump’s running mate, Sen. …

Business Credit Ohio Democrats Senate Vance Vote
Senate GOP blocks tax bill as Democrats spotlight child tax credit in election-year push
4 months, 3 weeks ago

Senate GOP blocks tax bill as Democrats spotlight child tax credit in election-year push

CNN  

Washington CNN — Senate Republicans on Thursday blocked a bipartisan tax package that would have temporarily expanded the child tax credit and restored some business tax benefits. Vance has falsely claimed that Vice President Kamala Harris, the presumptive Democratic presidential nominee, is calling to end the child tax credit. On the contrary, we strongly support it.” Child tax credit expansion …

Children Tax Credit Legislation Child Families Ohio
Foreign Tax Credit Can't Be Denied In Spite Of Accepting Computation: Madras High Court
4 months, 3 weeks ago

Foreign Tax Credit Can't Be Denied In Spite Of Accepting Computation: Madras High Court

Live Law  

The Madras High Court has held that the claim of foreign tax credit cannot be denied in spite of accepting the computation.The bench of Justice Senthilkumar Ramamoorthy, on examining the company tax return and the activity statements, appears prima facie that the petitioner has remitted taxes through the Australian branch. The Madras High Court has held that the claim of …

Tax Credit Foreign Claim Return Madras High Court Petitioner
Allahabad High Court Half Yearly Digest: January - June 2024 [Citations 1-415]
5 months, 2 weeks ago

Allahabad High Court Half Yearly Digest: January - June 2024 [Citations 1-415]

Live Law  

ORDERS/JUDGMENTS UP Victim Compensation Scheme 2014 | Eligibility/ Quantum Of Compensation For Rape Victims To Be Decided By DLSA, Not Court: Allahabad HC Case Title: Ramesh Alias Mehandi Hasan vs. State Of U.P. The bench comprising of Justice Alok Mathur held, “Considering the aforesaid judgments and also nature of the work involved in the present case where the workmen were …

India Justice Supreme Court High Court Court Uttar Pradesh Compassionate Appointment
CENVAT Credit Can Be Availed On Input Services Of Commercial And Industrial Construction: CESTAT
5 months, 2 weeks ago

CENVAT Credit Can Be Availed On Input Services Of Commercial And Industrial Construction: CESTAT

Live Law  

The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal has held that the CENVAT credit can be availed of on input services of commercial and industrial construction, fabrication and erection, manpower supply for construction, and Goods Transport Agency for construction materials, etc.The bench of P. Dinesha and Vasa Seshagiri Rao. The Chennai Bench of Customs, Excise, and Service …

Construction Services Service Stat Construction Materials Tax Credit Cenvat Credit
CBIC Issues Clarification On Availability Of ITC On Ducts And Manholes Used In Network Of OFCs
5 months, 3 weeks ago

CBIC Issues Clarification On Availability Of ITC On Ducts And Manholes Used In Network Of OFCs

Live Law  

The Central Board of Indirect Taxes and Customs has issued a clarification on availability of input tax credit on ducts and manholes used in network of optical fiber cables in terms of section 17 of the CGST Act, 2017.The board has received representations from Cellular Operators Association of India submitting that input tax credit is being denied by some. The …

Tax Network Itc Cables Cbic Ducts Cgst Act
Certificates By CA/CMA To Be Treated As Suitable & Admissible Evidence For Section 15(3)(B)(ii): CBIC
5 months, 3 weeks ago

Certificates By CA/CMA To Be Treated As Suitable & Admissible Evidence For Section 15(3)(B)(ii): CBIC

Live Law  

The Central Board of Indirect Taxes and Customs has prescribed the mechanism for providing evidence of compliance of conditions of Section 15 of the CGST Act, 2017 by the suppliers.In cases where the discounts are offered by the suppliers through tax credit notes, after the supply has been effected, the said discount is not to be included in the taxable …

Board Tax Supply Evidence Credit Act Certificates
HC Admits Central Excise Plea against ITC Input Tax Credit
6 months ago

HC Admits Central Excise Plea against ITC Input Tax Credit

Deccan Chronicle  

Hyderabad: A two-judge panel of the Telangana High Court admitted a Central Excise Appeal filed against ITC Ltd for claiming input tax credit for inputs consumed in the manufacture of exempted goods. The appellant contended that the assessee claimed Customs, Excise and Service Tax Appellate Tribunal credit for the inputs used for the manufacture of paper pulp which was exempted …

Tax Court Credit Customs Writ Judge High
Submission Of Form-67 Is Not Mandatory For Availing Foreign Tax Credit: Delhi ITAT
6 months ago

Submission Of Form-67 Is Not Mandatory For Availing Foreign Tax Credit: Delhi ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that submission of Form-67 is not mandatory for availing foreign tax credit.The bench of Sudhir Pareek and S. Rifaur Rahman has observed that filing Form-67 is a procedural or directory requirement and is not a mandatory requirement. The Delhi Bench of Income Tax Appellate Tribunal has held that submission of …

Tax Credit Income Foreign Filed Form Itr
Is California’s film and TV tax credit in danger? Unions say so
6 months, 1 week ago

Is California’s film and TV tax credit in danger? Unions say so

LA Times  

Eager to negotiate off the 2024 ballot a measure that would make it harder to raise taxes, unions are alleging that the initiative would end a California program that awards hundreds of millions of dollars annually in tax credits to television and film studios. The measure would have a “chilling effect on government’s ability to invest in services and infrastructure …

Film Credit Hollywood California State Vote Ballot