In a win for telecommunications companies (telcos) such as Bharti Airtel, Vodafone Idea, Reliance Communications, Indus Towers, and Tata Telecommunications, the Supreme Court (SC) on Wednesday said they can avail of tax credits for duties paid on infrastructure like towers, parts, shelters, printers, and chairs, against the service tax they pay for providing cellular services.
The Division Bench of Justices B V Nagarathna and N Kotiswar Singh overturned a 2014 Bombay High Court (HC) ruling, which had said that telcos could not avail themselves of central value-added tax (cenvat) credit on infrastructure for offsetting the service tax paid on cellular services.
This ruling aligns with the views of several other HCs, particularly the 2018 Delhi HC decision.
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At 122, harmful AQI days in 2024 six more than last year
Number of days with air AQI between 0 and 200 in Delhi has stood at 201 this year so far
Cricket's heavyweights pad up for pitch-perfect battle Down Under
\"Hello, and welcome to all our international viewers to the WACA Ground in Perth..,' For many, the understated, mellow Voice of Richie Benaud served as a window into a distant land where cricket was loud, aggressive, and played in colossal amphitheatre-like stadia.
Govt prepares logistics plan for metros to tackle traffic, pollution
The Centre has prepared a 'City Logistics Plan' for metros such as Delhi and Bengaluru for efficient freight and logistics movement within the city, a senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said on Wednesday.
NOT SO HOT ON HYBRID
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Voltas Well placed to improve market share
Analysts positive on volume-led growth that will reflect in stock price
Domestic business, lower guidance to weigh on PI Industries
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CIEL HR files draft papers, eyes ₹335 crore via fresh issue
Chennai-based CIEL HR Services, which provides technology-driven human resources solutions, on Wednesday filed a draft red herring prospectus with markets regulator Sebi to raise funds through initial public offering (IPO).
Maharashtra poll results unlikely to move markets
The outcome of the Maharashtra Assembly elections is unlikely to shake domestic markets that have other bigger developments to worry about, according to analysts.
Period of easy returns now over, taper expectations: Motilal Oswal
The period of easy returns where rising tide lifts all boats is likely over, Motilal Oswal Private Wealth said in a recent note, citing the likelihood of a moderation in corporate earnings growth in the coming years.
SMEs voice concern over tighter IPO norms
Sebi has proposed an overhaul of SME IPO rules to curb fund diversion and malpractices
