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RTRP Registered Tax Return Preparer Practice

The Registered Tax Return Preparer Test (RTRP) focuses on the ethical responsibilities of federal tax return preparers and the completion of the Form 1040 series returns including basic related schedules and forms. The test specifications below are intended to provide guidance on the content of the RTRP test. The examples provided within each item are not all inclusive of what may be tested in a given area. All efforts have been made to develop Dumps based on general tax rules covered in IRS publications, forms and instructions rather than exceptions found only in the Internal Revenue Code or Income Tax Regulations.

Domain 1 – Preliminary Work and Collection of Taxpayer Data
1. Review prior years return for accuracy, comparison, and carryovers for current year return.
2. Collect taxpayers biographical information (e.g., date of birth, age, marital status, citizenship, dependents).
3. Determine filing status.
4. Determine all sources of taxable and non-taxable income (e.g., wages, interest, business, sale of property, dividends, rental income, income from flow-through entities, alimony, government payments, and pension distributions).
5. Determine applicable adjustments to gross income (e.g., self-employed health insurance, self-employment tax, student loan interest deduction, alimony paid, tuition, and fees deduction).
6. Determine standard deduction and Schedule A itemized deductions (e.g., state and local tax, real estate tax, cash contributions, non-cash contributions, unreimbursed employee expense, medical expense, and mortgage interest).
7. Determine applicable credits (e.g., Earned Income Tax Credit, child tax credit, education, retirement savings, dependent and childcare credit).
8. Understand tax payments (e.g., withholding, estimated payments).
9. Recognize items that will affect future returns (e.g., carryovers, depreciation).
10. Determine special filing requirements (e.g., presidentially declared disaster areas).
11. Determine filing requirements (including extensions and amended returns).
12. Understand due dates, including extensions.
13. Determine personal exemptions, including dependents.
14. Determine qualifying child/relative tests for Earned Income Credit.

Domain 2 – Treatment of Income and Assets
A. Income
1. Taxability of wages, salaries, tips, and other earnings (e.g., W-2 Wage and Tax Statement, cash).
2. Interest income (taxable and non-taxable) (e.g., Schedule B and 1099-INT).
3. Dividend income (e.g., Schedule B and 1099-DIV).
4. Self-employment income and expenses (e.g., Schedule C Profit or Loss From Business and Form 1099-MISC Miscellaneous Income, cash).
5. Rental income and expenses (e.g., Schedule E Supplemental Income and Loss).
6. Identification of forgiveness of debt as income (including Form 1099-C Cancellation of Debt).
7. Other income (e.g., alimony, barter income, hobby income, non-taxable combat pay, state income tax refund from prior years, prizes).
B. Retirement income
1. Reporting requirements of Social Security benefits (e.g., Form SSA-1099 Social Security Benefit Statement).
2. Taxable distribution from an IRA including basis in an IRA (e.g., Form 8606 Non-deductible IRAs).
3. Distributions from qualified plans (e.g., 401k, IRA, Roth IRA).
4. Required minimum distributions from retirement plans.
C. Property, real and personal
1. Short-term and long-term capital gains and losses (e.g., Schedule D Capital Gains and Losses, Form 1099-B Proceeds from Broker and Barter Exchange Transactions).
2. Determination of basis of assets (e.g., purchased, gifted, or inherited).
3. Sale of non-business assets (gains or losses).
4. Sale of a principal residence (e.g., IRC 121 exclusions, 1099S Proceeds From Real Estate Transactions).
D. Adjustments to income
1. Self-employment tax (e.g., Schedule SE Self-Employment Tax).
2. Tuition and fees (e.g., Form 8917 Tuition and Fees Deduction, Form 1098T Tuition Statement).
3. Eligible Moving expenses (e.g., Form 3903 Moving Expenses).
4. Other adjustments to income (e.g., IRA contribution deduction).

Domain 3 – Deductions and Credits
A. Itemized deductions
1. Medical and dental expenses.
2. State, local, and real estate taxes.
3. Mortgage interest expense (e.g., Form 1098 Mortgage Interest Statement).
4. Charitable contributions (e.g., cash, non-cash, Form 8283 Non-Cash Charitable Contributions).
5. Miscellaneous itemized deductions (including deductions subject to 2% AGI Limit).
6. Employee travel, transportation, education, and entertainment expenses (e.g., Form 2106-EZ and Form 2106 Unreimbursed Employee Business Expenses).
B. Credits
1. Child and dependent care credit (e.g., Form 2441 Child and Dependent Care Expenses).
2. Child Tax Credit and Additional Child Tax Credit (e.g., Form 8812, Additional Child Tax Credit).
3. Education credits (e.g., Form 8863 Education Credits (American Opportunity and Lifetime Learning Credits), Form 1098T Tuition Statement).
4. Earned Income Tax Credit (EITC) (e.g., Schedule EIC Earned Income Credit, Form 8867 Paid Preparers Earned Income Credit Checklist).
5. Retirement savings contribution credit (e.g., Form 8880 Credit for Qualified Retirement Savings Contributions).

Domain 4 – Other Taxes
1. Alternative Minimum Tax (e.g., Form 6251 Alternative Minimum Tax).
2. Early distributions from retirement plans (e.g., Form 5329 Additional Tax on Qualified Plans).
3. Self-employment tax (e.g., Schedule SE Self-Employment Tax).
4. Unreported Social Security and Medicare tax (e.g., Form 4137 Social Security and Medicare Tax on Unreported Tip Income).
5. Repayment of first-time homebuyer credit (including Form 5405 First-Time Homebuyer Credit and Repayment of the Credit).

Domain 5 – Completion of the Filing Process
1. Check return for completeness and accuracy.
2. Explain and review tax return.
3. Explain record-keeping requirements to the taxpayer.
4. Discuss significance of signatures (e.g., joint and several liability, penalty of perjury, Form 8879 IRS e-file Signature Authorization).
5. Understand tax preparer's responsibilities related to rejected electronic returns.
6. Understand timeframe for submitting electronic returns (e.g., Form 8879 taxpayer signature and date prior to submission).
7. Understand payment options (e.g., check, direct debit, EFTPS, credit card, installment agreement-Form 9465).
8. Understand estimated tax payment requirements (e.g., potential for penalties, Form 1040-ES Estimated Tax).
9. Understand refund options (e.g., Form 8888 Allocation of Refund).

Domain 6 – Practices and Procedures
1. Penalties to be assessed by the IRS against a preparer for negligent or intentional disregard of rules and regulations, and for a willful understatement of liability (e.g., IRC 6694(a), IRC 6694(b)).
2. Appropriate use of Form 8867 Paid Preparers Earned Income Credit Checklist and related penalty for failure to exercise due diligence (e.g., IRC 6695(g)).
3. Furnishing a copy of a return to a taxpayer (e.g., IRC 6695(a)).
4. Signing returns and furnishing identifying (PTIN) numbers (e.g., IRC 6695(b), IRC 6695(c)).
5. Rules for the return preparer for keeping copies and/or lists of returns prepared (e.g., IRC 6695(d)).
6. Compliance with e-file procedures (e.g., timing of taxpayer signature, timing of filing, recordkeeping, prohibited filing with pay stub).
7. Completion and use of Form 2848 Power of Attorney and Declaration of Representative and Form 8821 Tax Information Authorization.
8. Safeguarding taxpayer information (e.g., Publication 4600 Safeguarding Taxpayer Information, Quick Reference Guide for Business, IRC 7216).

Domain 7 – Ethics
Circular 230 Subparts A, B, and C (excluding D, E), covering Topics including, but not limited to, the following:
1. Preparers due diligence for accuracy of representations made to clients and IRS; reliance on third-party work products (Circular 230, section 10.22).
2. What constitutes practice before the IRS and categories of individuals who may practice (Circular 230, sections 10.2(a)(4) and 10.3).
3. Limits on practice by a registered tax return preparer (Circular 230, section 10.3(f)).
4. Requirement to furnish information to IRS upon request (Circular 230, section 10.20).
5. Prompt disposition of matters before the IRS (Circular 230, section 10.23).
6. Prohibition on receiving assistance from or providing assistance to disciplined practitioners (Circular 230, section 10.24).
7. Rules regarding fees, including contingent fees (Circular 230, section 10.27).
8. Rules in dealing with clients, including return of client records, conflicts of interest, advising on omissions and errors, solicitation (including advertising), and negotiation of taxpayer refund checks (Circular 230, sections 10.21, 10.28, 10.29, 10.30, and 10.31).
9. Due diligence standards with respect to tax returns and other documents; standards for signing, advising positions on returns and advising submissions of other documents; advising on penalties; good faith reliance on client information; reasonable inquiries regarding incomplete, inconsistent, incorrect information (Circular 230, sections 10.34 and 10.35).
10. Responsibility of individual(s) who have principal authority over a firms tax practices (Circular 230, section 10.36).
11. Incompetence and disreputable conduct that can result in disciplinary proceedings (Circular 230, sections 10.51 and 10.52).
12. Sanctions that may be imposed under Circular 230 (Circular 230, sections 10.50 and 10.60).

Registered Tax Return Preparer Practice
IRS Registered information search
Killexams : IRS Registered information search - BingNews https://killexams.com/pass4sure/exam-detail/RTRP Search results Killexams : IRS Registered information search - BingNews https://killexams.com/pass4sure/exam-detail/RTRP https://killexams.com/exam_list/IRS Killexams : EIN Lookup: How to Find a Business Tax ID

An employer identification number (EIN) is like a Social Security number (SSN) for a business. The IRS assigns an EIN — also known as a federal tax ID number — to any business that is eligible. EINs aren't always necessary, but we'll walk you through why having one can benefit your business and how to do an EIN lookup when you can’t find yours.

What is an EIN?

An EIN serves as a unique identifier for your company. It’s used mainly for tax purposes. The IRS requires an EIN for any registered business with employees, corporations, partnerships, and businesses that file employment, excise, or alcohol, tobacco and firearms tax returns.

Your EIN serves as the primary ID of a business to the government. It's also commonly referred to as a "tax identification number (TIN)" or "federal tax ID number." You might use it to:

  • File business tax returns
  • Open a business bank account
  • Apply for small business loans
  • Obtain a business license
  • File various business legal documents

How to get an EIN

Applying for an EIN is easy; it can be done online within minutes on the IRS website or by faxing or mailing a completed Form SS-4 to the IRS.

We recommend that businesses apply for an EIN as soon as possible because it’s crucial for basic business functions. You don't need an EIN if you are a sole proprietor with no employees, but if you're looking to scale your business, having an EIN early on is beneficial.

Applying for an EIN online is fastest, but you also have these options if you’re based in a U.S. state or the District of Columbia:

  • Fax: (855) 641-6935
  • Mail: Internal Revenue Service, Attn: EIN Operation, Cincinnati, OH 45999

If you're an international applicant and don't have a legal residence or place of business in the U.S., you can apply for an EIN by one of these methods:

  • Telephone: (267) 941-1099 (available Monday through Friday from 6 a.m. to 11 p.m. Eastern time)
  • Fax: (855) 215-1627 if within the U.S., or (304) 707-9471 if outside the U.S.
  • Mail: Send your SS-4 form to Internal Revenue Service, Attn: EIN International Operation, Cincinnati, OH 45999

If you call to request an EIN, fill out an SS-4 form ahead of time to have your answers prepared for the questions the agent will ask. If you're filing via fax or mail, complete Form SS-4 and mail or fax it to the IRS. These methods take much longer than applying online — while faxing can result in an EIN within four business days, mailed applications can take at least four weeks to process.

Once you receive your EIN, make sure to keep it somewhere safe. It's unlikely that you’ll use an EIN as frequently as something like an SSN, so it's easy to forget. However, since your EIN is your business's tax ID, you’ll need it handy when dealing with taxes and applying for certain financial accounts or business licenses.

Does my business need an EIN?

Businesses of all types are able to apply for an EIN. However, the IRS requires certain businesses to have one. If you answer yes to any of the following, you'll need an EIN:

  • Does your business have employees?
  • Do you operate your business as a partnership or corporation?
  • Does your business file employment, excise, or alcohol, tobacco and firearms tax returns?
  • Does your business withhold taxes on non-wage income paid to a nonresident alien?
  • Do you have a Keogh plan?
  • Is your organization involved in a trust, non-profit organization, estate, real estate mortgage investment conduit, farmer’s cooperative or plan administration?

Even if your business is a sole proprietorship or single-member LLC with no employees, it’s still beneficial to get an EIN. It makes it easier to keep your personal and business taxes separate, and it may be required to open a business bank account or apply for business licenses. If you don't have an EIN, you'll need to use your SSN for various tax documents.

Keep in mind that those with an SSN, individual tax identification number (ITIN), or an existing EIN may apply for an EIN.

Does my business need to reapply for a new EIN?

Sometimes, your business may need to reapply for a new EIN. The IRS requires you to reapply for one rather than amending your business's existing EIN. According to the IRS, here are the most common reasons:

  • You change the structure of your business, like incorporating or turning your sole proprietorship into a partnership.
  • You purchase or inherit an existing business.
  • You created a trust with funds from an estate.
  • You are subject to a bankruptcy proceeding.

If your circumstances require you to reapply for an EIN, the application process is the same as if you’re applying for one for the first time.

How do I find my EIN?

If you’ve forgotten your EIN, there are a few ways to do an EIN lookup:

Contact the IRS to find your EIN

If you can't find your EIN on any of your documents, you can contact the IRS at 800-829-4933, but you'll need to call them Monday through Friday between 7 a.m. and 7 p.m. local time.

If your EIN changed recently and isn’t on older documents, this should be your first option. Be sure that the person contacting the IRS is authorized to do so. Authorized people generally include the sole proprietor, a partner in a partnership or a corporate officer.

Check anywhere your EIN could be recorded

Doing an EIN lookup or tax ID number lookup should be simple since it should be on many essential documents. Here are a few places your EIN might appear:

  • CP 575 Notice. When the IRS issues an EIN, they send you a CP 575 confirming your employer identification number. They may have issued this digitally when you applied online, faxed it or sent it via mail. Check to see if you received an electronic or printed letter from the IRS confirming your EIN when you first applied.
  • Prior year tax returns. Check your previous income, employment or excise tax returns. You generally have to include your EIN on any tax returns, so assuming this isn't your first time using your EIN, it should be on most official government forms.
  • Loan or license applications. You may have also used your EIN when applying for a loan, business license or permit.
  • Bank or financial institution. If you used your EIN to open a business bank account, try calling the bank or visiting a branch to get the EIN you used when you opened the account.

Performing an employer identification number lookup isn’t difficult; you don’t need to hire a service to find your EIN on your behalf.

How to find an EIN for a business

The nature of your business may require that you regularly look up EINs of other companies, or you may want to look up another business's EIN to validate their information.

If the company is publicly traded and registered with the Securities and Exchange Commission (SEC), you can use the SEC's EDGAR system to look up such a company's EIN for free. You can do an EIN lookup for nonprofit organizations on Guidestar.

If a company is not registered with the SEC, it will be more difficult since there’s no central EIN database for these companies. Here are a few strategies you can use:

  • Contact the company's accountant or financing office and ask for the EIN, though they don’t have to provide it.
  • Search for the company on the secretary of state’s website or seek out other local or federal filings that may be online.
  • Hire a service or use a paid database to do the EIN search.

How to cancel an EIN

If you apply for an EIN and realize you don’t need it or close your business, you can close your business account with the IRS.

How you close your account depends on whether you’ve ever used the EIN to file tax returns or not.

If you never used the EIN, send a letter to the IRS that includes the complete legal name of your business, your EIN, business address, and the reason you need to close your account. Send your letter to Internal Revenue Service, Cincinnati, OH 45999. You may want to send the letter certified return receipt so you have confirmation that the IRS received it.

If you’ve filed an income tax return using the EIN, you need to file a final return before the IRS can close your account. Business tax returns, including Form 1065, Form 1120-S, and Form 1120, include a checkbox to mark the return as final. You need to file a final return even if you didn’t have any revenues or expenses during your last year in business.

Once the IRS assigns an EIN, it will never assign it to another business entity, even after closing your business account. It remains the permanent federal identification number for that business, and you can reopen your account and reuse the EIN for that same business later if needed.

Mon, 21 Nov 2022 03:43:00 -0600 Janet Berry-Johnson en text/html https://www.valuepenguin.com/small-business/business-tax-id-ein-lookup
Killexams : THE SWISS HELVETIA FUND, INC. DECLARES QUARTERLY DISTRIBUTION AT NEW RATE OF $0.12285 PER SHARE

NEW YORK, Dec. 9, 2022 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end investment company (the "Fund"), announced today a quarterly distribution at the new distribution rate of $0.12285 per share of the Fund's common stock pursuant to the Fund's managed distribution plan (the "Plan"), following the exact annual review of the Plan, including the prior distribution rate, by the Fund's Board of Directors. The distribution is subject to the following record, ex-dividend and payment dates:

Record Date:               December 20, 2022

Ex-Dividend Date:     December 19, 2022

Payment Date:            December 30, 2022

The primary purpose of the Plan is to provide the Fund's stockholders with a more consistent, but not guaranteed, fixed minimum rate of distribution on a regular quarterly basis. The Plan also may have the effect of narrowing the discount to net asset value per share at which the Fund's shares trade.

Distributions under the Plan may consist of net investment income, net realized short-term and long-term capital gains, and to the extent necessary, return of capital (or other capital sources). With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution, as well as certain other related information.  The Fund expects to issue any such notice and press release on or about the distribution payment date.

The amounts and sources of distributions reported in each notice will be estimated, are likely to change over time and are not provided for tax reporting purposes. The real amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send each stockholder a Form 1099-DIV for the calendar year that will inform stockholders how to report distributions for federal income tax purposes.

The current distribution amount of $0.12285 per share of the Fund's common stock equates to an annualized distribution rate of 6.00% based on the Fund's net asset value per share or NAV as of October 31, 2022. The annualized rate is expected to change over time as the Fund's NAV varies. The Board will review at least annually the terms of the Plan to determine whether to adjust the amount or the calculation of the distribution rate, which may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's stockholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common stock.

Unless a stockholder has otherwise elected, distributions declared pursuant to the Plan will be reinvested automatically in shares of the Fund's common stock as provided in the Fund's automatic dividend reinvestment plan.

About The Swiss Helvetia Fund, Inc.

The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. Its shares are listed on the NYSE under the symbol "SWZ." The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland. The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.

Closed-end funds, unlike open-end funds, are not continuously offered. Typically, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.

The Fund is managed by Schroder Investment Management North America Inc.

About Schroder Investment Management North America Inc.

Schroder Investment Management North America Inc. and Schroder Investment Management North America Limited, investment advisors registered with the U.S. SEC, are units of Schroders plc (SDR.L), a global asset management company with approximately $939.2 billion in assets under management as of June 30, 2022. Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 500 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.

Schroder Investment Management North America Inc. provides asset management products and services to clients in the U.S. and Canada. Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Contact: 
Jennifer Brogadir
212-641-3863

Cision View original content:https://www.prnewswire.com/news-releases/the-swiss-helvetia-fund-inc-declares-quarterly-distribution-at-new-rate-of-0-12285-per-share-301699382.html

SOURCE The Swiss Helvetia Fund, Inc.

Fri, 09 Dec 2022 02:31:00 -0600 en text/html https://markets.businessinsider.com/news/stocks/the-swiss-helvetia-fund-inc-declares-quarterly-distribution-at-new-rate-of-0-12285-per-share-1031963132
Killexams : What Are Articles Of Incorporation? What You Need To Know

If you are registering a new corporation with your state’s Secretary of State, you’ll need to file articles of incorporation to complete the filing. These articles are what establish the company as its own business entity. This article reviews what articles of incorporation are, who needs them and the process of filing them.

Articles of Incorporation Defined

Articles of incorporation is a public document that a corporation files with the Secretary of State in the state it is registering in. This public record tells people key details about the company. Details include the corporation name, contact information and details about corporate stock.

Most Secretary of State offices have a template form for you to complete the articles of incorporation. This form will walk you through the company’s essential information. As long as you complete all details, you’ll complete the articles of incorporation.

On the form, expect to find the following:

  • Name of corporation
  • The principal address of the corporation
  • General business purpose
  • The duration of the corporation if it isn’t intended to exist perpetually
  • The registered agent’s name and address (a registered agent is required in most states so that the company has a representative in the state available to accept legal documents)
  • Number and types of stock shares issued
  • Name and address of the incorporators (the person or persons starting the company)
    Incorporator’s signature(s)

Many states offer an electronic version of the articles of incorporation, expediting the process of filing them and getting your corporation registered.

Entities Required To File Articles of Incorporation

Any new corporation must file articles of incorporation. This is true for all corporations across all states. The form may look slightly different from state to state as each state has its own requirements.

Articles of organization is a similar form required for limited liability companies (LLCs). This form contains much of the same data as the articles of incorporation, but without the stock information since an LLC doesn’t have stock shares issued.

Why Articles of Incorporation Are Important

The articles of incorporation are vital because they provide all relevant information the state needs to establish the new company. Information about registered companies is public information; thus, the details found in the articles of incorporation become the basis of that public record.

Filing Articles of Incorporation

Most states require that the articles of incorporation be filed with the state’s Secretary of State. In some states, another agency handles the filing of these forms. Search for the agency that registers new businesses in the state. You will locate the form either as a PDF or as an online form for you to complete.

When the form is complete, you submit it with the filing fee. The state will then review the articles of incorporation and likely approve it. Once it is approved, you will receive a certificate of formation from the state. This is the official document that states that the company is a legal corporation.

Once you have the certificate of formation, you will complete other important company documents and accounts. The first is the bylaws. Bylaws don’t need to be registered with the state but serve as a document that explains how the corporation will be run, including the rights and responsibilities of the officers, directors and shareholders. You next need to obtain an employer identification number from the IRS that helps you establish bank and credit accounts and allows you to file taxes.

Bottom Line

The articles of incorporation is a necessary document to create and register a new corporation with the state. This document sets up the business as its own separate entity and allows the company owners to legally run the company. It’s a simple form that takes just a few minutes to complete and becomes the basis for the company’s public record on the state’s website.

Thu, 01 Dec 2022 02:00:00 -0600 Kimberlee Leonard en-US text/html https://www.forbes.com/advisor/business/articles-of-incorporation/
Killexams : How Can I Get a Business Name Registered and a Tax ID for Real Estate?

Carrie Ferland is a practicing civil litigation defense attorney in the Philadelphia Area. As an author, her work has been featured in various legal publications for over 10 years. Ferland is a 2000 graduate of Pennsylvania State University and completed her Juris Doctorate and Master of Business Administration with the Dickinson School of Law. She is currently pursuing a Doctor of Philosophy in English.

Mon, 13 Jun 2016 01:16:00 -0500 en text/html https://homeguides.sfgate.com/can-business-name-registered-tax-id-real-estate-1630.html
Killexams : Money laundering, tax evasion: Rs0.5m fine imposed under AMLA-2010 and Rs0.1m under ITO-2001

ISLAMABAD: The government has imposed a fine of only Rs0.5 million under the Anti-Money Laundering Act 2010 (AMLA-2010) and Rs0.1 million in 113 cases prosecuted under Income Tax Ordinance 2001.

It was disclosed by the Federal Board of Revenue (FBR) that law also provided two years’ rigorous imprisonment under AMLA-2010 and one year under the ITO-2001.

According to the FBR brief submitted to the Senate Finance Standing Committee, investigation under the AMLA-2010 is started after receiving financial intelligence from the Financial Monitoring Unit (FMU) of Pakistan.

The information related to business persons or others is analysed by the FMU and then disseminated to the designated investigating and prosecuting agencies under AMLA-2010 in the form of financial intelligence for enquiry under AMLA-2010.

Financial institutions involving suspicions of tax evasion and money laundering based on tax evasion are shared with the Directorate General of Intelligence and Investigation-Inland Revenue (DG I&I-IR) for enquiry and investigation under AMLA-2010.

The DG I&I-IR is one of the designated investigating and prosecuting agencies under AMLA-2010 which investigates and prosecutes money laundering (ML) cases based on the designated serious offences of tax evasion provided in the law.

The suspect is also given the opportunity under tax laws to explain the viewpoint. In the light of the inquiry, a comprehensive report is prepared and presented before the director with the recommendations, which may include, with reasons to be recorded, closure of the case, simple tax evasion or tax evasion with the ingredients and elements of ML offence.

After a thorough discussion, if in the aforesaid meeting it is concluded that in addition to tax evasion elements of money laundering exist, the concerned regional director assigns the case to an investigating officer for proceedings under AMLA-2010 which includes registration of the FIR, application to the special judge for provisional attachment of the property involved in money laundering. If the court allows the provisional attachment, then a show-cause notice is issued to the accused to explain the sources of assets acquired, which means that even after registration of FIR and attachment of assets the accused is provided an opportunity of being heard.

Final forfeiture of property and punishment is adjudicated by the court through a trial. Money laundering being a cognizable offence, the Investigation Office can arrest the accused as per law without the court’s permission, however, the DG I&I IR as per SOPs/policy, discourages this practice. In rare circumstances, if an arrest is required, it is done through a warrant of the court.

As per law, an investigation officer may conduct a search and survey, but as per SOPs/policy, no search/survey has been carried out till date under AMLA 2010.

The SOPs also provide certain considerations which among others include;(i) availability of the evidence, domestic or international;(ii) value of the assets identified as POC;(iii) compliance level (tax statutes) of the accused;(iv) risk factors- areas prone to tax evasion/ML (geographical, sectoral (business sector), NPO/trusts/PEP, etc); (v) transaction with related or unrelated parties of resource costs required to investigate the POC or ML offence; and (vi) strengths and weaknesses of the case and likelihood of a successful prosecution.

Copyright Business Recorder, 2022

Thu, 08 Dec 2022 10:58:00 -0600 en text/html https://www.brecorder.com/news/40213492/money-laundering-tax-evasion-rs05m-fine-imposed-under-amla-2010-and-rs01m-under-ito-2001
Killexams : Consumers warned about holiday giving

West Virginia consumers are being urged to think before opening their wallets for just any charity this holiday season.

“Many people get into the holiday spirit by giving to charities, but before donating, make sure the money will actually support the desired cause,” emphasized Attorney General Patrick Morrisey. “Charities may also seek donations more actively this time of year, but beware of those who may prey upon the goodwill of others.”

Anyone with questions about the legitimacy of a charity or organization can go to the Secretary of State’s website to see if the charity is registered to solicit donations in West Virginia.

Consumers may also research a charity on websites such as CharityNavigator.org or GuideStar.org.

Those interested in knowing if a donation is tax-deductible can access the U.S. Internal Revenue Service’s Tax Exempt Organization Search at https://apps.irs.gov/app/eos/.

Those making an online contribution should make sure the website starts with https:// when visiting the donation portal. This verifies a secure connection, making it less likely for personal information to be stolen.

Additional tips to keep in mind during the season of giving include the following:

• Never feel pressured to donate immediately.

• Be wary of charities that ask for donations in cash or via wire transfer.

• If the organization is unfamiliar, gather as much information as possible and do research.

• Scams may use sympathetic-sounding names that are similar to the names of legitimate charities.

• Be suspicious if an organization will not supply additional information about its mission, how donations are used, or proof that a contribution is tax deductible.

• If a donation request is for a local chapter of an organization, verify it is authorized to solicit funds on behalf of the parent organization.

• Go directly to the charity or organization’s website instead of clicking on a link to the desired group.

• Keep records. Contributions exceeding $250 should result in a returned letter confirming the charitable status of the organization as well as the amount of the donation.

Anyone who believes they have been the victim of a scam should contact the Attorney General’s Consumer Protection Division at 800-368-8808 or visit the office online at www.ago.wv.gov.

Thu, 08 Dec 2022 09:57:00 -0600 en text/html https://www.register-herald.com/consumers-warned-about-holiday-giving/article_c6e50314-7726-11ed-a0d4-c3c2722fe607.html
Killexams : West Virginia Attorney General shares tips for wise holiday giving Money being counted © Provided by Roanoke-Lynchburg WDBJ-TV Money being counted

CHARLESTON, W.Va. (WDBJ) - West Virginia Attorney General Patrick Morrisey is encouraging people to think before they open their wallet this holiday season.

The advice comes as part of the Attorney General’s Holiday Consumer Protection Week.

Morrisey says people should make sure the money will actually support the desired cause before donating and to beware of those who may look to take advantage of the goodwill of others.

Anyone with questions about the legitimacy of a charity or organization can go to the Secretary of State’s website to see if the charity is registered to solicit donations in West Virginia. Consumers may also research the charity on websites such as CharityNavigator.org or GuideStar.org.

Those interested in knowing if a donation is tax-deductible can access the U.S. Internal Revenue Service’s Tax Exempt Organization Search at https://apps.irs.gov/app/eos/.

Those making an online contribution should make sure the website starts with https:// when visiting the donation portal. This verifies a secure connection, making it less likely for personal information to be stolen.

Additional tips to keep in mind during the season of giving are:

  • Never feel pressured to donate immediately.
  • Be wary of charities that ask for donations in cash or via wire transfer.
  • If the organization is unfamiliar, gather as much information as possible and do research.
  • Scams may use sympathetic-sounding names that are similar to the names of legitimate charities.
  • Be suspicious if an organization will not supply additional information about its mission, how donations are used or proof that a contribution is tax deductible.
  • If a donation request is for a local chapter of an organization, verify it is authorized to solicit funds on behalf of the parent organization.
  • Go directly to the charity or organization’s website instead of clicking on a link to the desired group.
  • Keep records. Contributions exceeding $250 should result in a returned letter confirming the charitable status of the organization as well as the amount of the donation.

Anyone who believes they have been the victim of a scam should contact the Attorney General’s Consumer Protection Division at 800-368-8808 or visit the office online at www.ago.wv.gov.

Wed, 07 Dec 2022 12:54:37 -0600 en-US text/html https://www.msn.com/en-us/money/other/west-virginia-attorney-general-shares-tips-for-wise-holiday-giving/ar-AA1526th
Killexams : Watch out for these common holiday scams

Scammers try to take advantage of the holiday season, when many people are shopping and donating more than they usually do. Here’s what to be wary of.

Credit: fizkes - stock.adobe.com

For many Americans, the holiday season is the most generous time of the year, inspiring people to supply gifts and to donate to charities.

But not everyone is in the holiday giving spirit. Peak shopping season is also peak scamming season, so we’ve put together five of the most common holiday-related scams for you to be aware of while you’re spreading holiday cheer.

THE SOURCES

WHAT WE FOUND

VERIFY reviewed holiday scam warnings from the Federal Trade Commission (FTC), the Better Business Bureau (BBB) and the AARP to create this list of the five most common scams.

It’s possible to fall victim to a variation of each of these scams year-round, but their snares are more effective during this time of year when many people are shopping more than usual.

Fake shipping notifications

A fake shipping notification is exactly what it sounds like: A notification sent via text or email with information about a delivery that isn’t real. It’s likely you’ve received these kinds of messages before; the AARP says they accounted for more than 1 in 4 spam texts in 2021.

The BBB says this kind of scam is “particularly prevalent” during the holiday season. The AARP explains that scammers are hoping you’ve done most of your Christmas shopping online and can’t keep track of all of your purchases, or that you’ll just assume the package is a gift from someone close to you. 

This scam often looks like an email or text message from a legitimate package carrier, like the United States Postal Service (USPS), FedEx or UPS. The message may have what it claims is a tracking link, it might tell you that you need to confirm your order before it will be delivered or it could tell you that you need to reschedule your delivery because an unsuccessful delivery attempt was made.

If the message has a link, it’s likely a phishing link that wants you to enter your personal and financial information, or it has malware that the scammer can use to extract that information on their own. 

The simplest way you can avoid falling victim to this scam is by keeping track of your orders. Be wary of any unexpected deliveries or messages about them.

Text messages about missed deliveries should raise red flags unless you’ve already opted into them. If you receive an unsolicited notification via text or email, don’t click on links attached to the message. Instead, go to the company’s official website and find its tracking tool or customer service options there. 

A more low-tech version of this scam comes in the form of a fake missed delivery slip left on your front door. These slips include a phone number for the victim to call, which the scammers will use to get your personal information.

Legitimate package carriers also usually leave a slip on your door to notify you of a missed delivery. To make sure that the slip you see on your door isn’t a scam, you should read the information and instructions on it carefully to make sure it’s for a real delivery. If there is anything suspicious about the slip, use the customer service number the company has posted online rather than the one on the slip.

The reason fake delivery notifications work over the holidays is because people are doing a lot of online shopping. Scammers will try to trick people with bogus websites made to look like real ones, social media ads for counterfeit or non-existent products and links to “store pages” that will actually download malware onto your device, the AARP and BBB say. 

With scammers deploying so many different strategies to ruin your holiday shopping experience, there’s a number of different red flags you should be aware of, and strategies you can use to avoid becoming a victim.

One of the most common ways scammers try to trick online holiday shoppers is through fake websites masquerading as real stores. 

“Some faux e-stores are invented from whole cloth, but many mimic trusted retailers, with familiar logos and slogans and a URL that’s easily mistaken for the real thing,” the AARP says. “They offer popular items at a fraction of the usual cost and promise perks such as free shipping and overnight delivery, exploiting the premium online shoppers put on price and speed.”

These websites, the BBB says, can be created to trick people into downloading malware, making purchases for counterfeit or non-existent products, or sharing private information.

You should double-check the URL of whatever store page you’re shopping from to make sure it lines up with the company’s real URL, which you can confirm with a Google search. If the logo looks a little off or there are typos on the webpages, those are signs that the site might not be the company’s real website.

Sometimes, scammers try to use enormous sales and bargains to lure you to a knockoff website. These kinds of websites often have the same goals, and are likely to send you counterfeit products or nothing at all.

Do a quick search online to research the company you’re buying from if you’re unfamiliar with it, the BBB says. Check for valid contact information, and search for the business name on Google followed by “complaints,” “reviews” or “scam.”

Additionally, the FTC recommends paying by credit card for online purchases because most credit cards offer extra protection over debit cards. And if unauthorized charges appear on your credit card statement, you can dispute them.

An AARP survey found three-quarters of its respondents plan to buy at least one gift card this holiday season. A quarter of respondents in that same survey received a gift card with no funds on it in the past, showing that gift cards are just as popular for scammers.

Sometimes, thieves will remove gift cards from the in-store display rack and record the numbers on the cards so they can activate them at home without buying them, leaving whoever buys the card with a worthless gift card, the BBB says. Other times, scammers will set up websites to “check the balance” on gift cards, only to use it as a front to steal the information they need to take the money from the card. 

Then, there are other scammers who don’t steal money from gift cards, but instead use gift cards as a way to get access to personal information These scammers use fraudulent websites that claim to sell gift cards for popular retailers at steeply discounted prices, only to harvest information like your credit card number. 

What can you do to protect yourself? First, only buy a gift card from a reputable retailer, preferably directly from the company the card is for. If you buy it in person, look over the card before making your purchase. Check to see whether the PIN is exposed, and inspect the packaging for any tears, wrinkles or other indications of tampering. If anything looks suspicious, pick out a different card and hand over the compromised card to the retailer’s customer service desk.

Check to see if you can register your card with the retailer; it can help recover stolen funds. 

Finally, avoid websites not associated with the retailer that offer to check the balance of your gift cards. It’s always safer to get the balance from the retailer, if that option is available.

Retailers and shipping services alike often hire additional part-time workers during the holidays, and many people see these jobs as an opportunity to earn extra money during an expensive time of year. But scammers know this, the FTC and BBB warn, and will look to take advantage of it.

No legitimate job will make prospective employees pay to get a job, so if that’s a prerequisite, stay away. It’s a scam.

You should also be suspicious of jobs that are offered without an interview, and jobs that claim to pay incredibly high wages for simple tasks. These jobs sound too good to be true because they likely are.

Protect yourself while applying for a job by never giving away your credit card, bank account or Social Security number when you first make contact. Additionally, don’t do any work for a company before it actually hires you. The BBB says a legitimate company will not ask you to complete complex projects before making you a job offer.

And during the job search, you can use Google search similarly to how you would check if a retailer is legit: by searching the name of the company plus the words “review,” “complaint” or “scam.”

Scammers also use the holidays to take advantage of people feeling generous during the season of giving.

The FTC, BBB and AARP say the very first thing you should do before donating to an unfamiliar charity is to research it online. The BBB monitors and evaluates charities through its Wise Giving Alliance, and other charity watchdogs such as American Institute of Philanthropy’s Charity Watch, Charity Navigator and GuideStar perform similar roles.

These watchdog websites vet charities to make sure they’re actually using donations in the way the charities say they do. You can have more confidence in a charity if it’s listed and highly rated by one of the watchdogs.

Never let yourself be pressured into making a quick decision on a donation — scammers of all types like to create a false sense of urgency. Before making a contribution, carefully check the charity’s name and logo. Many fake charities mimic the names and logos of well-known charities to try to trick people.

Don’t make a donation using a gift card, wire transfer or cryptocurrency because those kinds of payments are difficult to track and recover, making them favorites of scammers. 

You should also be cautious of crowdfunding campaigns, like fundraisers on popular sites like GoFundMe. Many crowdfunding campaigns are legitimate, but there are also plenty of fake campaigns out there. Do your research ahead of time rather than rely on the campaign website to help you get your money back, which there’s no guarantee it will do.

Keep in mind that crowdfunding campaigns don’t have to be registered charities. GoFundMe says donations to personal GoFundMe fundraisers are generally considered personal gifts and aren’t tax deductible.

If you fall victim to a scam, report it to the FTC at https://reportfraud.ftc.gov, and to the BBB at https://www.bbb.org/scamtracker. The FTC will walk you through your next steps depending on the kind of scam after you’ve filed your report. The FTC also gives advice under the “Getting my money back” section of its scam report FAQ page.

Report a scam as soon as you’re aware of it. The sooner you report it, the more likely you are to get your money back, the FTC says.

The VERIFY team works to separate fact from fiction so that you can understand what is true and false. Please consider subscribing to our daily newsletter, text alerts and our YouTube channel. You can also follow us on Snapchat, Twitter, Instagram, Facebook and TikTok. Learn More »

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Killexams : How do I correct the license plate description on my registration? | Ask the DMV

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Killexams : Services resulting into process amounting to manufacture of goods is exempted from service tax

CESTAT Delhi held that services by way of carrying out any process amounting to manufacture or production of goods, falls under the negative list and is exempted from the levy of service tax.

Facts-

Acting upon information received from Income Tax Department that during the period 01/04/2014 to 30/09/2016, the appellant had a gross turnover of Rs. 98,86,917/-, accordingly, revenue called for information from the appellant, with regard to his service tax liability during the said period. As no information was submitted by the appellant, it appeared to revenue that it is not possible to ascertain the nature of services provided by the appellant.

Accordingly, show cause notice was issued invoking the extended period of limitation based on the information received from Income Tax Department demanding services including cess. It was further alleged that appellant have wilfully suppressed the facts from the department with intent to evade payment of tax. Further interest and penalty were also proposed. The Assistant Commissioner confirmed the proposed demand and also imposed equal amount of penalty under Section 78 of the Finance Act, 1994.

Commissioner (Appeals) recorded findings that the appellant is rendering Works Contract Service. Although, no such proposal was there in the show cause notice, nor the Commissioner (Appeals) served any notice upon the appellant for classification of service. Agreeing with the other findings of the Order-in-Original, the appeal was dismissed. Being aggrieved the appellant is before this Tribunal.

Conclusion-

I find that there is no suppression or failure on the part of the appellant to make compliance under the service tax provisions. Rather revenue have chosen to not make any enquiry for the period prior to 01/10/2016, soon after taking of registration in November 2016. Thus, allegation of revenue that appellant have concealed its particulars of turnover from service tax department, and revenue came to know upon receipt of information only in 2019 on the basis of data received from the Income Tax Department is vague and frivolous. Thus, I hold that the show cause notice is bad for invocation of extended period of limitation.

I further find that during the period under dispute, almost the whole turnover for providing service is in respect to work done in packing plant-maintenance job for Shree Cement Ltd- manufacturer of cement. I further find that Clause (f) of Section 66D provides that services by way of carrying out any process amounting to manufacture or production of goods, falls under the negative list and is exempted from the levy of service tax.

FULL TEXT OF THE CESTAT DELHI ORDER

The appellant is engaged in civil construction/works contract service etc. and registered with the department w.e.f. 25/11/2016. Appellant had filed ST-3 returns from and the period October 2016 to March 2017 and April 2017 to June 2017, and also paid the admitted tax.

2. Acting upon information received from Income Tax Department, that during the period 01/04/2014 to 30/09/2016, the appellant had a gross turnover of Rs. 98,86,917/-, accordingly, revenue called for information from the appellant, with regard to his service tax liability during the said period. As no information was submitted by the appellant, it appeared to revenue that it is not possible to as certain the nature of services provided by the appellant. Accordingly, show cause notice dated 16/10/2019 was issued invoking the extended period of limitation based on the information received from Income Tax Department like copy of ITR/26AS, demanding services including cess Rs. 13,77,282/- for the period 2014-15, up to September 2016. It was further alleged that appellant have wilfully suppressed the facts from the department with intent to evade payment of tax. Further interest and penalty was also proposed. Vide ex parte Order-in-Original dated 28/02/2020, the Assistant Commissioner confirmed the proposed demand of Rs. 13,77,282/- on the gross turnover as per IT records, of Rs. 98,86,917/- alongwith equal amount of penalty under Section 78. Penalty was also imposed under Section 77 (1)(a) 10,000/-, 77(1)(C) 10,000/- and 77(2) Rs. 10,000/-.

3. Being aggrieved the appellant preferred appeal before the Commissioner (Appeals) inter alia on the ground that the demand is not sustainable for want of classification of the service. Demand have been raised merely based on 3rd party information. Classification of service goes to the root of the matter for determining the correct liability, as each class of service is entitled to abatement/exemption as the case may be. The assessing officer have observed that the assessee have provided taxable services which are not covered in the negative list of services, nor in the Mega Exemption Notification. It was also urged that without classification of service, the demand is not sustainable. Further urged that the onus of classification of service was on the revenue, it was further urged that merely because TDS (income tax) was deducted did not lead to the conclusion that the services were taxable. It was also urged that there is failure on the part of revenue to exercise jurisdiction in collection of information from the appellant. Revenue had all the powers of discovery of information like summons, inspection, search etc.. It was also urged that the demand is hit by limitation, as extended period of limitation is not invokable. Show cause notice have been issued after more than 36 months. The basis of show cause notice is, the records and accounts maintained by the appellant-assessee in normal course of business. Admittedly, appellant had filed their IT returns, which is the basis of information. Further evidently, the appellant had taken registration w.e.f. 25/11/2016, and had started making compliance. At the relevant time, revenue never asked for any information for previous period. It is not the case that the appellant having knowledge that his turnover from service was taxable, have deliberately not paid the service tax. This is more evident from the fact that appellant had taken suo moto registration in November 2016 with the service tax department. It is also urged that mere failure to declare without intent to evade tax, does not amount to wilful suppression. The relevant data of turnover was also disclosed by the appellant in the balance sheet & profit and loss account. It is also urged that during the relevant period, the appellant have provided service to the manufacturing industry, within the factory premises for manufacture of dutiable goods. Thus the service provided in the course of manufacture inside the factory is not liable to service tax. It is also urged that the situation is wholly revenue neutral as whatever service tax appellant would have paid, the same would have been available as Cenvat credit to the recipient-manufacturer, it was also urged that in the facts and circumstances, no penalty is imposable, there have been no deliberate default. The Commissioner (Appeals) recorded findings that the appellant is rendering Works Contract Service. Although, no such proposal was there in the show cause notice, nor the Commissioner (Appeals) served any notice upon the appellant for classification of service. Agreeing with the other findings of the Order-in-Original, the appeal was dismissed. Being aggrieved the appellant is before this Tribunal.

4. Learned Counsel for the appellant Mr. O.P. Agrawal, Chartered Accountant urges that the demand is not sustainable for failure to classify the service rendered in the SCN. Further Commissioner (Appeals) have also erred in classifying the service without giving any opportunity of hearing as required under law. The Commissioner (Appeals) was required to issue notice for classification of the service, as there was no such proposal in the show cause notice to classify the service under works contract head. It was further urged that it is the onus of the revenue to determine the classification under the particular head of service. Reliance is placed on the ruling of this Tribunal in Balaji Contract or Vs. CCE-2017-52-STR-259, wherein this Tribunal held the tax entry of each type of service have legal implication with reference to tax liability, quantification, exemption, abatement etc.. An assessee is required to be put to notice about classification under which demand is sought to be made, so that the defence may be made by the assessee. In absence of proposal to classify the service under a particular head, it was held that impugned order travelled beyond the scope of show cause notice and was not sustainable.

5. It is further urged that from the copy of the work orders enclosed with the appeal memo, it is evident that the appellant had provided JCB-machinery on monthly charges basis for ‘packing plant maintenance job’ inside the factory premises of Shree Cement Ltd. (manufacturer of cement). The activity carried out inside the factory premises of the recipient manufacturer was or in relation to the manufacture of final products, which was dutiable. Without the repair and maintenance, the manufacture of dutiable goods would not be commercially possible. Thus, such service being used for manufacturing activity, is outside the scope of service tax as per Section 66D. The fact of providing service to Shree Cement Ltd is also evident from Form-26AS (annual tax statement).

6. It is further urged that the activity of shifting/transportation, raw material, waste material and finished products from one place to another, inside the plant does not attract service tax, as such activities are in relation to manufacture of excisable goods. Reliance is placed on ruling of Jharkhand High Court in Modi Construction Company 2011 (23) STR 6. It is further urged that revenue were aware activity of the appellant as the appellant had written letter dated 29/01/2016 to the department and given various information. Subsequent to that, the appellant had taken suo moto registration in November 2016 and had started making compliance from 01/10/2016. Thus, the issue of show cause notice after more than 3 years is hit by limitation.

7. It is further urged that the appellant is also eligible for SSI exemption under Notification No. 6/2005-ST. Accordingly, the learned Counsel urges for allowing the appeal and setting aside the impugned order.

8. Learned AR for the revenue Mr. Divey Sethi relies on the findings of the court below.

9. Having considered the rival contentions, I find that the appellant had taken suo moto registration in November 2016 and had started making compliance by filing Return and depositing admitted tax w.e.f. 01/10/2016. Further, the appellant have maintained proper records of its transactions and turnover. They have also filed their IT-returns. Further, the appellant had admittedly taken suo moto registration under Service tax provision. In the circumstances, I find that there is no suppression or failure on the part of the appellant to make compliance under the service tax provisions. Rather revenue have chosen to not make any enquiry for the period prior to 01/10/2016, soon after taking of registration in November 2016. Thus, allegation of revenue that appellant have concealed its particulars of turnover from service tax department, and revenue came to know upon receipt of information only in 2019 on the basis of data received from the Income Tax Department is vague and frivolous. Thus, I hold that the show cause notice is bad for invocation of extended period of limitation.

10. I further find that during the period under dispute, almost the whole turnover for providing service is in respect to work done in packing plant-maintenance job for Shree Cement Ltd- manufacturer of cement. Admittedly, service has been provided inside the factory premises by providing JCB. The work order issued by Shree Cement Ltd dated 09/10/2015, provides- hiring of JCB for packing plant maintenance job, for operating/doing the work for nine hours each day or 240 hours per month on monthly charges of Rs. 48,000/-. Further the fuel was to be provided by the service recipient whereas lubricants and maintenance was to be provided by the appellant. Thus, the appellant was to provide competent operating staff to operate the JCB. Further, the JCB was to be operated as per the guidance and instructions of the engineer of the service recipient. Further, the appellant have received the hire charges for JCB, through bank and have also maintained proper records. I further find that Clause (f) of Section 66D provides that services by way of carrying out any process amounting to manufacture or production of goods, falls under the negative list and is exempted from the levy of service tax.

11. I further find that the classification of service under Works Contract Service by the Commissioner (Appeals) is beyond the scope of show cause notice, and is held to be bad.

12. In view of my aforementioned findings and observations, I allow this appeal and set aside the impugned order. The appellant shall be entitled to consequential benefits in accordance with law.

(Order pronounced in the open Court on 21.11.2022)

Sun, 04 Dec 2022 18:41:00 -0600 en text/html https://taxguru.in/service-tax/services-resulting-process-amounting-manufacture-goods-exempted-service-tax.html
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