An overview of LARGE TAXPAYER UNITS LTU Rationale

Rationale behind LTU. Ø International practice. Ø Single window facilitation. Ø To reduce tax

Eligibility. Ø PAN holder. Ø Assessment of Income Tax @ Bangalore, Chennai, Delhi, Kolkata

Procedures… Ø Ø Ø Ø Application - Consent form. Registration. Filing of returns. Tax

Procedures. Ø Transfer of all cases to LTU. Ø Cases to be completed within

Advantages. . . Ø Single point return filing. Ø Single point contact. Ø Specific

Advantages. Ø Inter unit transfer of Cenvat credit. Ø inter unit transfer of credit

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An overview of LARGE TAXPAYER UNITS ( LTU)

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

Eligibility. Ø PAN holder. Ø Assessment of Income Tax @ Bangalore, Chennai, Delhi, Kolkata or Mumbai. Ø 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.

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

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

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

Advantages. Ø Inter unit transfer of Cenvat credit. Ø inter unit transfer of credit availed inputs / capital goods without reversal of credit. Ø inter unit transfer of manufactured products without payment of duty – Goodbye to CAS 4. Ø Fast track refund processing.

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