Cenvat Credit On Services Of Commission Agents – A Common Issue With Contrary Decisions

Cenvat Credit On Services Of Commission Agents – A Common Issue With Contrary Decisions Posted: 09 Jun 2013 09:19 PM PDT Cenvat Credit has been a highly sensitive issue since its inception. The assessees always attempt to avail credit of every possible input / capital goods / input service which has suffered the incidence of duty/tax by liberally interpreting their definitions. Taxability of Software Payments under Income-Tax Act, 1961 Posted: 09 Jun 2013 09:11 PM PDT There have been multiple views about the taxability of software payments. The Finance Act, 2012 has brought a consensus to it by amending section 9(1) (vi) of Income-tax Act, 1961 by inserting Explanation 4 with retrospective effect from 01.06.1976.