Indirect Taxation of Engineering, Procurement & Construction-(EPC) Contracts

Indirect Taxation of Engineering, Procurement & Construction-(EPC) Contracts

 

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    Inclusive of (Breakfast, Lunch, Tea and Study Material Included)

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About The Event

Indirect Taxation of Engineering, Procurement & Construction-(EPC) Contracts


Taxation of EPC contracts has always been a matter of curiosity, controversies and complications. Ever since the evolution of the concept of deemed sales under the sales tax laws, it has remained a mystery as to which transactions are liable to tax under the guide of ‘works contract’.


Scheduled for the 12th October 2013 from 10am to 5:30pm at Hotel Suba Galaxy in Mumbai, the workshop will be lead by leading experts in the field who will discuss some of the Finer Aspects of Indirect Taxation. So if you are in any one of these fields or you work with works contract, we suggest you hurry.

 

We shall take you through some very important and relevant case laws related to EPC Contracts and possible ways to optimise the impact of indirect taxes.

 


 

Important Questions to be Answered:-


  1. How far is the predominant intention theory relevant ?
  2. What is the best course of action to charge VAT and Service Tax?
  3. What are the service tax exemptions proposed to be done away by way of Budget 2012?
  4. Sale and Service - Are they mutually exclusive? What are the accepted overlaps?
  5. Do states across India have similar provisions to charge VAT on Works Contract
  6. What are the implications of Negative List of Service Tax on Works Contract?
  7. What are the conflicting judgements being passed by various courts under Works Contract?
  8. What is the current option available with the builders for discharge of Indirect Tax Liabilities?
  9. Insights into the burning issues of Off/ On Shore SALES
  10. Indirect Tax Optimizations (VAT/ CEN VAT/ SERVICE TAX)
  11. Concerns for Owner Companies qua Principal Contractors and Sub Contractors
  12. Capitalization Considerations and implications.

 


 

Corporate Governance Consulting

1. Corporate Profiling -
    a. DNA – Vision – Mission
    b. Policies & Value System
    c. Organisational Structure

2. Management Audit

3. Project Management
    a. Budgeting
    b. Outsourcing Monitoring & Control
    c. Risk Management

 

4. Business Process Management
    a. Define to deliver Process Mapping
    b. Implementation of Process framework
    c. ISO Certification

5. Business Intelligence
    a. MIS
    b. Business Strategy

Compliance Services

1. Service Tax & VAT
    a. Handling multi-state VAT compliances
    b. Handling Service Tax Procedural compliances
    c. Written Opinions
    d. Appellate Matters

2. Labour Laws & Compliances

3. Direct Tax and Accounting Services

4. Project Finance & Related Services

    Information Technology Services
1. ERP
    a. We offer inhouse ERP package for the construction sector

 

 

Programme Content :

Session 1: Session 2: Session 3: Session 4:  


10:30 AM- 12.00

  • Works Contract?
  • Deemed Sale?
  • Def’n under VAT Act.
  • Basic Concepts of Levy of Works Contract.
  • Divisible & Indivisible Works Contracts.
  • The 3 Options namely Actual Deduction, Standard Deduction & Composition.
  • Practical Illustrations


12.15 PM - 1:30 PM

  • Provisionsof VAT Act. & Rules for Works Contract.
  • Availability VAT Credit to both Contractor and the Contractee.
  • The provision of TDS.
  • Transaction between Main & Sub Contractor.


2:00 PM- 3:30 PM

  • Inter State Works Contract
  • Service Tax
  • Basic Concept of Service Tax on Works Contract
  • Scenario for making payment
  • Tax optimisation strategies

 

3:45 PM- 5:15 PM

  • Exemptions available
  • Controversies involved with Works contract under service tax
  • Service Tax & VAT overlap
  • Landmark Judgement
  • Assessment test for participants

 

 

 

 


 

 

About The Speakers:

 

The first speaker is CA Sandesh Mundra, an experienced professional actively associated with clients in the industrial construction sector having worked with civil contractors for the past ten years. Has taken sessions at various professional forums and several of his articles dealing with the construction sectror have been published in national Journals of Builder’s Association of India and Institute of Chartered Accountants of India. Possesses special skills in structuring the indirect tax component of the works contracts. Has also authored the technical guide on Business Controls. Monitoring and Internal Audit of Construction Sector published by Institute of Chartered Accountants of India

 

The second speaker is Mr.Deepak Ramrakhiani practicing in Excise, Service Tax, Vat & Customs on all India basis since last 8 years. He has more than 25 years of experience in indirect taxation. Before starting his practice, he has worked as V.P Indirect Taxation Essar, at Group Level and also worked in all big four consulting firms and various industries such as Special Steels Limited, Voltas TATA Group, Bharat Bijlee Limited etc. During the course he has handled various assignments of several large corporate and has also appeared before the various authorities on behalf of the clients

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