Service Tax News, Articles, Notifications and Forms

  • Apr
  • 24
  • 2015

Updated Negative List of Services under Service Tax from 01.04.2015

Added In Service Tax
Vide Finance Act, 2012 Concept of Negative list of Services been introduced according to which all services except the those specified in Negative list are liable for Service Tax. First Notification in the regards was Principal Notification No. 25/2012 – Service Tax, dated 20th June, 2012. we have Compiled Updated List of Services Under Negative List as on 01.04.2015 on which no Service tax is payable

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  • Apr
  • 23
  • 2015

Service Tax Abatement Rate Chart from 01.04.2015

Added In Service Tax
CA Sandeep Kanoi Abatement in Service Tax was First Introduced Vide Principal Notification No. 26/2012-Service Tax, dated 20th June 2012 and subsequently been amended vide Notification No. 2/2013 – Service Tax, dated the 1st March, 2013, Notification No. 9/2013 – Service Tax, Dated: May 8, 2013, Notification No. 08/2014 – Service Tax Dated-11th July, 2014 […]

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  • Apr
  • 22
  • 2015

Reverse and Partial Reverse Mechanism Chart from 01.04.2015

Added In Service Tax
Reverse and Partial Reverse Mechanism Chart with effect from 01.04.2015 and The extent of service tax payable thereon by the person who provides the service and any other person liable for paying service tax for the taxable services

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  • Apr
  • 16
  • 2015

Service Tax Exemptions Withdrawn From 1st April, 2015

Added In Service Tax
(a) Withdrawal of certain exemptions under Notification No. 25/2012-ST. (i) Construction services provided to Government etc (Entry No. 12)- Clauses (a), (c) and (f) shall stand omitted. Construction, repair etc of the following services provided to the Government, a local authority, or a governmental authority are now taxable:

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  • Apr
  • 15
  • 2015

Cenvat credit on civil construction services for factory shed

Added In Service Tax
Cenvat credit allowed on civil construction services for construction of factory shed, which is falling under setting up of factory premises- Commissioner of Central Excise, Delhi III, Gurgaon Vs. KML Molding [2015-VIL-171-CESTAT-DEL-CE]

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  • Apr
  • 15
  • 2015

No Service tax liability arise on loans & advances, if it is revealed in audited balance sheet

Added In Service Tax
Investigation of the Appellant was initiated on November 26, 2007 by the officers of DGCEI and it was alleged that the financial support given to Appellant by RCM in terms of the Master Service Agreement dated April 10, 2007 (the Agreement) was in the nature of advance for the taxable services rendered or to be rendered by the Appellant to RCM and is required to be set off against the bills that would be raised later by the Appellant on RCM.

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  • Apr
  • 15
  • 2015

Period of limitation not apply in case of refund of Service tax paid inadvertently

Added In Service Tax
CA Bimal Jain Period of limitation under Section 11B of the Excise Act will not apply in case of refund of Service tax paid inadvertently where no such Service tax liability exist Shravan Banarasilal Jejani Vs. Commissioner of Central Excise, Nagpur [(2015) 55 taxmann.com 363 (Mumbai – CESTAT)] Shravan Banarasilal Jejani (the Appellant) is the owner […]

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  • Apr
  • 15
  • 2015

New rate of Service tax to come into effect only from a date to be notified after enactment of Finance Bill, 2015

Added In Service Tax
CA Bimal Jain The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary & Higher Secondary Education cess. Further pursuing with Mr. Narendra Modi’s Dream of Swachh Bharat, a new Chapter VI has been inserted in the Finance Bill, 2015 […]

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  • Apr
  • 10
  • 2015

CBEC clarifies on Applicability of 14% Service Tax Rate

Added In Service Tax
Circular No. 183/02 /2015-ST Dated 10th April, 2015 Doubts have been expressed in various forums regarding the proposed increase in the rate of service tax from 12.36% (including education cesses) to 14% on the value of taxable service.

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  • Apr
  • 09
  • 2015

ST-Service Export from India Scheme (SEIS) under FTP 2015-2020

Added In Service Tax
Notification No. 11/2015 – Service Tax Dated- 8th April, 2015 Central Government exempts taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory from whole of the service tax leviable thereon under section 66B of the said Act.

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