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Amnesty Scheme for exporters: Govt recovers Rs 852 Crore Gas tanker blast in Pune; Hotels, houses gutted PM to hold roadshow in Puri on Monday Violations of economic sanctions: Criminal penalties come into force Bengaluru Customs nabs 4 pax with gold powder worth Rs 1.96 Crore Kejriwal’s assistant put in police custody for 5 days in Swati Maliwal case Allahabad HC upholds decision to dismiss judicial officer demanding dowry Nawaz Sharif alleges former Chief Justice plotted to oust him as PM in 2017 Heavy downpours claim 50 lives in Central Afghanistan Soaring funeral costs compelling people to let go bodies unclaimed in Canada 9 pilgrims burnt to death as bus catches fire near Nuh in Haryana Spain denies dock permission to Indian ship carrying arms to Israel 12 Unicorns, over 125 startups commit to onboarding ONDC BEML secures Rs 250 crore order from Northern Coal Fields Bharat Parv celebration takes centerstage at Cannes Film Festival Steel industry should work towards reducing emissions: Steel Secretary US says not too many vibrant democracies in the world than India I-T - Benefit of section 11(2) can not be denied merely on reasoning that form 10 is filed belatedly: ITAT Russia seizes Italy’s UniCredit assets worth USD 463 mn Cus - If price is not sole consideration for sale, then transaction value can be rejected under Rule 8 of Export Valuation Rules & then must be redetermined sequentially through Rules 4 to 6: CESTAT SC upholds ICAI rules capping number of audits per year

MESSAGE BOARD

Tax on Ocean Freight - A long legislative haul

Tax on ocean freight

Very well written article. The government ought to weigh the economic cost to the country vs. benefit to the revenue. Even if this garners some revenue, it is worth eschewing it for sake of equity, clarity and avoidance of litigation.

Sanjay Dwivedi
Advocate

Sanjay R Dwivedi 22/05/2018

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