Service Tax News, Articles, Notifications and Forms

  • Jul
  • 22
  • 2014

CAG report on Non Compliance with Service Tax Rules and Regulations

Executive summary of the Report of the Comptroller and Auditor General of India for the year ended March 2013 Union Government, Department of Revenue, (Indirect Taxes – Service Tax), Report No. 6 of 2014 The Audit Report for the year ended March 2013 has been prepared for submission to the President of India under Article […]

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  • Jul
  • 18
  • 2014

Budget 2014 – Impact of Pre-Deposit for Appeal and Increase of Interest Rate on delayed service tax payment

Added In Service Tax
Jagdishkumar Gor 1.  Pre-deposit Made Mandatory in Appeal Procedures for Central excise, Customs & Service Tax. Significant amendment to Section 35F of the Central Excise Act, 1944 and Section 129E & 129B of the Customs Act, 1962 and proposed Mandatory (1) 7.5% pre-deposit of duty demanded or penalty imposed or both for filing appeal before […]

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  • Jul
  • 18
  • 2014

Revised Rate of Interest in Service Tax

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Revised Rate of Interest w.e.f. 1.10.2014-Vide Notification No 12/2014-ST dated 11.7.2014, rate of interest to be charged on delayed payment of service tax has been enhanced w.e.f. 1.10.2014, based on period of delay. Thus, longer the delay period , higher would be the rate of interest payable. Accordingly, the rate of interest shall be as under :

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  • Jul
  • 18
  • 2014

Proposed Effects of Finance Bill, 2014 On Service Tax

Added In Service Tax
Over the last decade the service tax collections have shown tremendous growth, thus it is becoming more important to the Government Exchequer. After the introduction of Negative List based Service Tax regime, to broaden the tax base of service tax, only option available is to snip the negative list and the exemptions. Thus, the following new services have been brought into service tax net:

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  • Jul
  • 17
  • 2014

Further Amendment in Exemption from Service Tax/Refund of Tax Paid by SEZ –Developers/Units after Final Budget 2014-15

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Before discussing Notification No. 7/2014 –Service Tax dated 11-07-2014 came in response to Budget Speech of Shri Arun Jaitley, finance minster under Prime minister ship of   Shri Narendra Modiiji. I would like to bring to your attention previous position for exemption from Service Tax/Refund of tax paid by Special Economic Zones – Developers/Units.    

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  • Jul
  • 16
  • 2014

Download Free e-book on Service Tax Updated till 15th July 2014

Added In Service Tax
Please find attached 9th Edition of the Book on Service Tax (incorporating changes upto 15th July 2014). The book contains: - Articles on Budget 2014 changes (refer Chapter 20) - Amended legal provisions aongwith recent judicial precedences - Forewords by Shri V K Garg (Ex-Joint Secretary, TRU)

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  • Jul
  • 15
  • 2014

Extending Advance Ruling to Resident Private Limited Companies

Added In Service Tax
As per provisions relating to Advance Rulings contained in section 23C of the chapter III A of central Excise Act, 1944, and similar provisions contained in Section 96A of the Finance Act, an applicant desirous of obtaining an advance ruling may make an application in such form and in such manner as may be prescribed, stating the question on which the advance ruling is sought.

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  • Jul
  • 15
  • 2014

A Close Watch On Service Tax Defaulters

Added In Service Tax
The Government has enhanced the rate of interest to be charged on delayed payment of Service tax under Section 75 of Finance Act, 1994. This increase in the rate is based on period of delay rather a single increased rate for any period of delay.

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  • Jul
  • 14
  • 2014

Budget 2014 – Service Tax Amndments- Brief synopsis

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The government has proposed to levy Service Tax on Radio-taxis/cabs whether or not air-conditioned. Earlier the same was exempted from the purview of Service Tax as it was covered under the Negative list [Section 66D (o)].

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