Service Tax News, Articles, Notifications and Forms

  • Jul
  • 28
  • 2014

Budget 2014 – Synopsis of Indirect Tax Proposals

Added In Service Tax
Amendment impacting Negative List: (Changes to be effective from enactment of Finance Bill)- Exemption of Service tax on Advertisement now restricted only to print media, all others areas, not covered earlier, now subjected to service tax. Print Media to include Books and News Paper as defined under Press and Registration Books Act, 1867 but does not include business directories, yellow pages and trade catalogues primarily meant for commercial purposes

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  • Jul
  • 28
  • 2014

Applicability & procedure of Service Tax under reverse charge

Added In Service Tax
1) Introduced in the Finance Act, 1994 under Service Tax Rules in 2002. 2) An explanation to Section 65(105) was added wherein concept of import of services was launched. 3) This explanation to Section 65(105) was removed in year 2006 and Section 66A was inserted. 4) Rule 2(1)(d) of the Service tax rules, 1994 prescribed the cases of deemed service providers.

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  • Jul
  • 24
  • 2014

Finance Bill 2014 – A Delight For Tour Operator

Added In Service Tax
The Finance bill, 2014 brought a big sigh of relief to the Tourism Sector. The Central Government has tried to plug some anomalies prevailing in the act with this Finance Bill and the Tourism sector has also welcomed this budget warm heartedly.

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  • Jul
  • 24
  • 2014

VCES application rejection for Delay or Short Payment of taxes valid – HC

Added In Service Tax
The High Court of Ahmedabad held in the case of Ramilaben Bharatbhai Patel v. Union of India that in exercise of writ jurisdiction, the High Court does not have power to waive or relax the condition of depositing 50% of tax dues by December 31, 2013 under the Service Tax Voluntary Compliance Encouragement Scheme, 2013.

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  • Jul
  • 23
  • 2014

Advertisement Company Chairman arrested for Evasion of Service Tax of Rs. 1.94 Crore

Added In Service Tax
Officers of the Commissionerate of Central Excise and Service Tax, Mangalore arrested a Chairman & Managing Director of a major company providing advertisement services and event management, for collecting the Service Tax of over Rs. 1.94 crores from April, 2012 to June, 2014 and not remitting the same to the Government account. Out of this amount, Rs. 1.16 crores was retained by them for more than 6 months.

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  • 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

Added In Service Tax
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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