CA Bimal Jain

CA Bimal JainThe Hon’ble Finance Minister Shri. Arun Jaitley announced a host of changes in the Indirect tax structure in the Union Budget 2016-17 on February 29, 2016, that are expected to impact the Trade and Industry. Under Service tax, on one hand, the effective rate of Service tax would go up to 15% w.e.f June 1, 2016 with the introduction of Krishi Kalyan Cess at 0.5% on the value of all taxable services, on another hand, some of the exemptions, which were hurriedly withdrawn during the last two years, have been reinstated with complete clarity & refund mechanism. Further, there are many changes in the Negative list, Exemption list,  Reverse Charge and Abatement Notification also.

As an endeavour to summarise all the important changes in the arena of Service tax for easy digest, Mr. Bimal Jain has recorded a video titled “Union Budget 2016: Changes in Indirect Tax – Service Tax & Excise”, discussing the flurry of changes proposed by the Union Budget 2016-17 and their likely impact. Please find below the link for the video, for posting on your website.

Reactions on Union Budget 2016” by Bimal Jain

The Union Budget, 2016, proposing flurry of changes in Indirect Taxes, has been a talk of the town since the day of its presentation i.e. February 29, 2016. Numbers of measures have been introduced, few of which are welcome changes for the Trade & Economy, but few of them are not in line with ‘Make in India’ and ‘Ease of Doing Business’ initiatives. Here, is a video on “Reactions on Union Budget 2016” by Bimal Jain, discussing both sides of the Union Budget, 2016. You may watch the video presentation by clicking the following link:

(Author can be reached at Email: bimaljain@hotmail.com)

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Category : Service Tax (3162)
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  • Roshan Sharma

    What will be the date of filing first Annual Return under Service Tax?

  • Sai Ram – SBS Hyd

    I too dont know….