Service Tax - Page 30

CAG makes 166 audit observations on Service Tax Compliance

CAG has releases it Report No. 1 of 2016 (Indirect Taxes – Service Tax) for the Financial Year 2014-15 on compliance audit of the Central Board of Excise and Customs under Department of Revenue – Indirect Taxes (Service Tax) of the Union Government. The Service Tax collection was Rs 1, 67,969 crore during financial year 2014-15 [&hel...

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Currency Conversion Charges not liable to service tax – CESTAT

Citibank N.A. Vs Commissioner of Service Tax (CESTAT Chennai)

It was held that Currency Conversion Charges (mark up) in respect of credit/debit card transactions are not liable to service tax as the card transaction happened outside India....

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CENVAT without physical movement of goods illegal

Sujana Metal Products Ltd. Vs Commissioner of Central Excise, Chennai-II (CESTAT Chennai)

it was held that creation of cenvat documents and debiting duty without physical movement of goods and in turn took back the credit without receipt of any goods, is a clear violation of Central Excise Act and Rules and is liable to penalty....

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CBEC instruct officials to solve Grievances Published in Newspapers

F.No.C-30013/8/2016 Ad.IV-A (11/03/2016)

I am directed to forward herewith a copy of OM No. 11019/4/2015 PG-C1 dated 11.02.2016 received from Department of Administrative Reforms and Public Grievances on the above mentioned subject, for necessary action....

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Sales commission Cenvat amendment: Prospective or retrospective?

Assessee and Department have been involved in tug of war on cenvat credit on inputs, input services and capital goods. The assessee attempting to avail credit of every possible input / capital goods /input service by liberally interpreting their definitions and department denying the Cenvat credit by following the principle of literal int...

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Service Tax Impact on Freight Forwarders and Logistics Industry

In case services of transportation of goods are availed from a domestic entity,service tax needs to be charged by the Indian shipping company, whereas such services being availed from any foreign entity would attract tax liability under the Reverse Charge Mechanism (‘RCM’). This amendment would come in effect from June 1, 2016 and its...

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Union Budget 2016 Analysis For Layman & Tax Practitioners

Rebate under section 87A is increased to Rs. 5,000/- from Rs. 2000/-. [This rebate is available to individual resident in India whose taxable income does not exceed five lakh rupees.] [Applicable from A. Y. 2017-18]...

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CESTAT Requests CBEC to issue appropriate Guideline to Quasi-Judicial Authorities

Commissioner of Customs (Import) Vs M/s. Do Best Infoway (CESTAT Chennai)

Revenue has come in appeal before the Hon'ble Tribunal against the order passed by Learned Commissioner (Appeals) setting aside the assessment enhancing the declared value in respect of imported aluminium foil paper from China....

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Krishi Kalyan Cess on all taxable services wef 01.06.2016

Unlike Swachh Bhara Cess imposed w.e.f. June 15, 2015, which is not Cenvatable neither in the hands of service providers nor manufacturers, in terms of TRU F.No. 334/8/2016-TRU dated February 29, 2016 [Para 3.1], it is provided that Cenvat credit of Krishi Kalyan Cesspaid on input services shall be allowed to be used for payment of the pr...

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CBEC Revises Service Tax Return Form- ST-3

Notification No. 20/2016-Service Tax (08/03/2016)

These rules may be called the Service Tax (Second Amendment) Rules, 2016. (a) in the Table “B1 FOR SERVICE PROVIDER”, after serial number B1.21 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely:-...

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Latest Service Tax News India

Service tax in India is the tax which is collected by the government from service providers for providing services. The person liable to pay service tax could be a service provider or the recipient of service or any person responsible for providing services. Generally, the service tax is required to be paid on all the services except for those provided in the negative list. All the service providers together with the union and state government providers and private sector service providers too are liable for paying service tax. Services Tax Act and Service Tax Rules together with the Finance Act, 2016 has provided an increase in service tax from 12.36% to 14%. This revised service tax rate would comprise of Education Cess and Secondary and Higher Education Cess.

At Taxguru, we provide all the latest service tax notifications and service tax circulars. We bring you all the recent developments and updates to the Service Tax Act and the Service Tax Rules. From a change in the service tax rates to any change in the format service tax challan or any other service tax notification, we provide a comprehensive and detailed approach to service tax in India. You can view and download all the service tax circulars free of cost. We keep on updating our portal regularly so that we keep you posted on all the recent service tax notifications and updates.

With our group of service tax experts, we provide a cohesive and complete analysis of the service tax related matters. We post regular blogs and articles on all the trending service tax related issues. At Taxguru, we try to solve all your service tax related queries. Ensure to bookmark us to keep a track of all the service tax updates.

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