1 / 8

An overview of LARGE TAXPAYER UNITS ( LTU)

An overview of LARGE TAXPAYER UNITS ( LTU). Rationale behind LTU. International practice. Single window facilitation. To reduce tax compliance cost, delays & to ensure uniformity. Simplified procedures. Eligibility. PAN holder.

oakes
Télécharger la présentation

An overview of LARGE TAXPAYER UNITS ( LTU)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. An overview ofLARGE TAXPAYER UNITS ( LTU)

  2. Rationale behind LTU. • International practice. • Single window facilitation. • To reduce tax compliance cost, delays & to ensure uniformity. • Simplified procedures.

  3. Eligibility. • PAN holder. • Assessment of Income Tax @ Bangalore, Chennai, Delhi, Kolkata or Mumbai. • Payment of over Rs.5 crores of Excise Duty in cash or Service tax of over Rs.5 crores in cash or advance tax or corporation tax of over Rs.10 crores during the preceding financial year.

  4. Procedures… • Application - Consent form. • Registration. • Filing of returns. • Tax payment. • Refunds. • Audit. • Exports. • TDS returns.

  5. Procedures. • Transfer of all cases to LTU. • Cases to be completed within 3 months. • Single Commissioner (A), LTU.

  6. Advantages... • Single point return filing. • Single point contact. • Specific software for units. • Digital Signature Certificates. • Personalised Client Executive for each taxpayer. • Self sealing for exports. • Self adjustment of excess paid duty due to arithmetical errors.

  7. Advantages. • Inter unit transfer of Cenvat credit. • inter unit transfer of credit availed inputs / capital goods without reversal of credit. • inter unit transfer of manufactured products without payment of duty – Goodbye to CAS4. • Fast track refund processing.

  8. THANKS

More Related