Seminar on Investigations & Audit
A vast majority of assessees comply with tax laws and pay taxes diligently. However, due to complex wording of statutory provisions, contrary instructions issued by revenue authorities, conflicting judgments and also due to genuine differences in interpretation, the investigating agencies may conclude that there is loss of revenue.
The revenue agencies conduct investigations against genuine tax assessees in more or less the same way they deal with tax evaders. Seizing of computers and documents, recording statements from senior officials till very late in the night and summoning of senior management who do not play any role in day to day tax payment have been increasingly noticed. Requirement of deposit of the alleged short payment is also being insisted upon without giving adequate opportunity to make considered decision.
To sensitise senior officials about the responsibilities in cooperating with investigating agencies and at the same time knowing their rights during such investigations, a seminar will be organised by Institute of Business Laws in Ahmedabad on 7th June, 2013. Lakshmikumaran & Sridharan will be the Knowledge Partner for this seminar. For more details visit www.iblglobal.com.
Seminar on Cenvat Credit - Issues & Opportunities
Institute of Business Laws in association with Lakshmikumaran & Sridharan is organising seminar series on Cenvat Credit - Issues & Opportunities as follows:
- Chennai - 7th June, 2013
- New Delhi - 12th June, 2013
- Bangalore - 21st June, 2013
- Hyderabad - 25th July, 2013
Cenvat credit scheme has been subject to several amendments in recent times. The objective of the scheme is to avoid cascading effect and provide for duty or tax only on value addition. But interpretative differences have ensured that views on admissibility of credit on inputs, capital goods and input services continue to be divergent posing formidable challenges in obtaining clarity and optimising opportunities.
Cenvat credit in certain specific arrangements or situations like job work, demerger, slump sale and the like pose issues for which solutions are not readily available. Consequent to introduction of negative list based regime in service tax, it may be felt that Cenvat credit chain is now complete. But, bar on utilisation of credit when service recipient is liable to pay tax and non-availability of Cenvat credit refund to service recipients in case of partial reverse charge add to the cost thus defeating the intention of the credit scheme.
In these seminars, experts from Lakshmikumaran & Sridharan will discuss the above and other issues impacting the industry and identify opportunities to maximise benefits available under the Cenvat Credit Rules and other provisions. For more information about these seminars refer www.iblglobal.com.