Service Tax News, Articles, Notifications and Forms

  • Mar
  • 30
  • 2015

Service Tax Compliances in Banking Sector-Download free e-book

Added In Service Tax
As you may be aware Service tax on Banking and other financial services was imposed w.e.f.16-07-2001. The taxation of services has also undergone a paradigm shift from positive list to negative list in the year 2012. Post implementation of taxation of services based on negative list, service tax compliance has now become an integral part […]

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  • Mar
  • 29
  • 2015

Analysis of Service Tax Amendments Applicable w.e.f. 01st April 2015

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The Finance Bill, 2015 has proposed Lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes can be categorized as follows: (i) Changes coming into effect immediately w.e.f. the 1st day of March, 2015; (ii) Changes coming into […]

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  • Mar
  • 29
  • 2015

Changes to become effective in SERVICE TAX w.e.f 1st April 2015

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Following Services which are currently taxable, to become exempted- 1. Transport of pulses and rice by rail, vessels or road in a goods carriage. 2. Transportation of patient in an ambulance. 3. Life Insurance services provided under the scheme of Varishtha Pension Bima Yojna. Services of Common Effluent Treatment Plant Operator for treatment of effluent.

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  • Mar
  • 29
  • 2015

Service Tax Return for Oct 2014 to March 2015 to be available from 01.04.15

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Service Tax Return (ST-3) for October 2014 to March 2015 period will be made available from 01.04.2015 for e-filing by the assesses in both offline and online version. The last date for filing the returns for the said period is 25th April 2015. The assesses can file return online or use the offline utility by […]

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  • Mar
  • 29
  • 2015

Practical step by step guide to prepare Service tax return

Added In Service Tax
It’s my great pleasure to present this project on ST-3 Return. Gone are the days when Service Tax used to be a ‘Chota-Mota’ Tax, as of now it has become a full fledged tax with all beauties cum confusions with respect to complexities and interpretations. In fact, after Income Tax and Central Excise, Service tax is major source of Central Govt. revenue.

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  • Mar
  • 27
  • 2015

New Rate of Service Tax and Cess on Services

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Clause 106 of the Finance Bill, 2015 seeks to amend section 66B so as to increase the Service Tax from 12 to 14 percent. Further, Clauses 179 and 187 respectively of the Finance Bill, 2015 provide that – Section 95 of the Finance Act, 2004 levying education cess, and Section 140 of the Finance Act, 2007 levying SHE cess

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  • Mar
  • 25
  • 2015

Budget 2015- Taxability of Newly Made ‘Taxable Services’

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Finance Bill, 2015 vide Clause 107 has proposed certain amendments in the Negative List of services given under Section 66D of the Finance Act thereby removing certain services from the Negative List. Now, in this case, the issue may crop up that the services rendered prior to the date of notification are exigible to Service […]

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  • Mar
  • 25
  • 2015

Hike In Rate Of Service Tax – Open Issues

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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 that contains a […]

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  • Mar
  • 25
  • 2015

Impact of Service tax changes on Manpower Supply & Security Services

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Impact of Change of Service tax liability structure from partial reverse charge to full reverse charge on manpower SUPPLY AND SECURITY services in transition period As discussed Supra, Notification No. 30/2012-ST dated 20-06-2012 has been amended vide Notification No. 7/2015-ST dated 01-03-2015, there by shifting the Supply of Manpower and Security services from Partial Reverse […]

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  • Mar
  • 25
  • 2015

Service tax Changes effective from date to be Notified after enactment of Finance Bill, 2015

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This Article Covers the following Topics- Increase in rate of Service tax Swachh Bharat Cess – Enabling Provision Changes in relation to the Negative List – Section 66D of the Finance Act, 1994 Various other Sections under the Finance Act, 1994 Service Tax Rules, 1994 amended vide Notification No. 5/2015-ST dated 01-03-2015 Changes in Mega […]

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