Date: 20th December 2018
Time: 4:00 p.m. to 5:00 p.m.
With Christmas day approaching near, we are witnessing a whole deal of discounts and incentives being offered across the market. These deals catch attention of not only the buyers, but also the Tax Department. Wonder why! While buyers look forward to lower prices on account of discounts, the Tax Department is looking forward to higher tax kitty treating such discounts as consideration for provision of services and thus amenable to tax (Service Tax/ GST).
In a manufacturer- distributer/dealer arrangement, these discounts result in reduction of value of goods purchased by the distributer/dealer from the manufacturer. The dispute, however, is regarding treatment of such discounts as consideration for provision of services by the distributer/dealer to the manufacturer. This has earlier got attention of the Tax Department under the positive-list regime and is now under scrutiny for the negative-list regime, particularly in respect of arrangements between the vehicle manufacturers and dealers.
To understand the correct legal position on the above issue, Lakshmikumaran & Sridharan (L&S) is organizing a conference call on 20th of December 2018. In this conference call, Mr. B.L. Narasimhan, Principal Partner, L&S will discuss, evolution of the principles of valuation for Service Tax purposes along with the evolving business practices on discounts and jurisprudence thereon.
Interested members across all industries may attend this call to discuss the topic and share their thoughts.