In its continuing series of Learning and Education Workshops, PetroFed organised a half day Workshop on ‘Taxability of Contracts' in association with member company and knowledge partner PricewaterhouseCoopers (PwC) on 20 th February, 2007 at New Delhi .

The objective of the workshop, which was chaired by the legal luminary Shri V.N. Koura, was to provide a threadbare analysis of the relevant judicial decisions and understand the service tax implications for an EPC contract. This has become crucial in the light of recent judicial pronouncement.

In his opening remarks, Shri Koura placed the problem in perspective, beginning with the incorporation of Consulting Engineer's Services as a taxable service in 1997.

The recent decisions regarding EPC contracts and service tax were elaborated upon by Shri Prashant Deshpande, Executive Director, PwC. The emerging scenario in the area, taking into account the relevance and implications of the Dealim Industrial Company Limited case and the BSNL decision by the Supreme Court, were dwelt in detail by Shri S. Madhavan, Executive Director, PwC.

The concern of EPC contractors vis-à-vis service tax were enumerated by Shri Arunabha Sen, Country Manager - India, J. Ray McDermott Middle East Inc.

The interactive session was availed of by participants in not only clarifying doubts but also seeking expert advice from the legal and taxation experts present. Participants were earlier welcomed by Shri A.K. Arora, Director General, PetroFed. A vote of thanks was proposed by Shri Y. Sahai, Director (Comm. & Mktg.) PetroFed.

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