The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the
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Posted by Soumen
I am a Mining(Sand) Lessee and the West Bengal State Govt. is the Lessor.
Earlier I used to pay ROYALTY, CESS AND TCS(Tax Collected at Source). But from FY 2017-18 the B.L. & L.R.O has started taking an additional PAYMENT UNDER RULE-12. The amount paid by me is 30% of the amount of Royalty I have paid.
1. What is the Payment Under Rule-12 ?
2. Whether this payment is adjustable in Income Tax Computation like TCS (Tax Collected at Source) or not ?
Updated on : 20/05/2018 15:24:01