Cocacola theme India Vs USA


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PROFESSIONAL UPDATES @ TEAMBRINGIT us

Assessee would be liable to deduct tax at source under section 194C on payments made as transportation charges to intermediate parties who arranged actual transporters from open market for carriage of goods by transport for assessee, even if there was no written contract between assessee and intermediary party. HC denied to order valuation of goodwill as it arises on acquisition of business in slump sales. Penalty order is illegal and without jurisdiction if it was passed during pendency of assessment proceeding: HC. Commission agent's services are ineligible for credit as he isn't not 'sales promotion agent'. Off-shore under-construction installations or incomplete structures do not form part of 'India'/ 'taxable territory'; hence, services imported by them are not liable to service tax under reverse charge.
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Pure Economics INFLATION / DEFLATION .. which is more better ..

TEAMBRINGIT # ECONOMICS Inflation in India has fallen from 10 per cent to 5.5 per cent." And this is how RBI governor explains advantage of lower inflation. Funny but true.     "Say the pensioner wants to buy dosas and at the beginning of the period, they cost Rs. 50 per dosa. Let us say he has savings of Rs. 1,00,000. He could buy 2,000 dosas with the money today, but he wants more by investing.     At 10 per cent interest, he gets Rs. 10,000 after one year plus his principal. With dosas having gone up by 10 per cent to Rs. 55, he can buy 182 dosas approximately with the Rs. 10,000 interest.     At 8 per cent interest, he gets Rs. 8,000. With dosas having gone up by 5.5 per cent, each dosa costs Rs. 52.75, so he can now buy only 152 dosas approximately. So the pensioner seems vindicated: with lower interest payments, he can now buy less.     But wait a minute. Remember, he gets his principal back also and that too has to be adjusted for inflation. In the high infl
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Latest Happenings

BUSINESS AND ECONOMY== > INDIA-RELATED * India WPI inflation falls to 5-month low of 3.15% in Nov (Cogencis) * Govt says committed to fiscal gap aim (Cogencis) * SBI economist says RBI underestimating cash curb hit on GDP (Cogencis) * Tata Teleservices removes Cyrus Mistry as director, chairman (Cogencis) * Nusli Wadia asks Tata Motors shareholder to vote with "conscience" (Cogencis) * RBI unwilling to cede control over payments regulations (BS) * Wipro splits India, West Asia business (BS) * Sources say India's Nov gold imports rises to $4.4 bln (Cogencis) * Source says RBI starts printing 1,000-rupee note on pilot basis (Cogencis) * Source says panel for 10-bps cut in FY17 EPF interest rate to 8.7% (Cogencis) * Central Depository Services to file IPO documents this month (BS) * Amazon launches Prime Video service in India (BS) * New norms allow cab surge pricing up to four times (ToI) * Bombay HC to hear Tata EGM votes plea on Friday (ToI) * Swan Ene
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