Dayal R Kundani

Amendments in provisions related to ‘Online information & database access or retrieval services’

Service Tax - The online information and database access or retrieval services were exempted under Reverse charge as per Place of provision rules i.e the services provided from outside India and received in India were non-taxable (Exempt) under service tax....

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Maharashtra Budget 2016- Key Provisions related to MVAT

Service Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Dayal R Kundani The Maharashtra Budget for F.Y. 2016-17 was pronounced on 19th March, 2016. In the Speech the Finance Minister has made the following proposals while presenting the Budget. Contents of Key proposals Value Added Tax – RATE CHA...

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Odisha VAT: Amendment in schedule B- Tax rate enhanced from 13.5% to 14.5% w.e.f 01-01-16

Service Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Dayal R Kundani Notification: No. 80-FIN-CT1-TAX-0020-2015 Dtd 1st Jan, 2016 Goods taxable at the rate of 13.5% shall now be taxable at the rate 14.5 % for list of goods subject to Value Added Tax on Turnover of Sales or Purchases […]...

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Service Tax Tax Rate 14% w.e.f. 01-06-2015 and related provisions

Service Tax - The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. 1st June, 2015 is being notified as the date on which the following provisions will come into effect. 1. The rate of Service Tax is being increased from 12% to 14% (including cesses). (Notification No.14/2015-Service Tax, dated 19th May, 2015...

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TDS under Income-tax Act, 1961 on service tax

Service Tax - It is clarified that the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVJI-B of the Act on the amount paid/payable without including such service tax component....

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Recent Posts in "Dayal R Kundani"

Amendments in provisions related to ‘Online information & database access or retrieval services’

The online information and database access or retrieval services were exempted under Reverse charge as per Place of provision rules i.e the services provided from outside India and received in India were non-taxable (Exempt) under service tax....

Read More
Posted Under: Income Tax |

Maharashtra Budget 2016- Key Provisions related to MVAT

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Dayal R Kundani The Maharashtra Budget for F.Y. 2016-17 was pronounced on 19th March, 2016. In the Speech the Finance Minister has made the following proposals while presenting the Budget. Contents of Key proposals Value Added Tax – RATE CHA...

Read More
Posted Under: Income Tax |

Odisha VAT: Amendment in schedule B- Tax rate enhanced from 13.5% to 14.5% w.e.f 01-01-16

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Dayal R Kundani Notification: No. 80-FIN-CT1-TAX-0020-2015 Dtd 1st Jan, 2016 Goods taxable at the rate of 13.5% shall now be taxable at the rate 14.5 % for list of goods subject to Value Added Tax on Turnover of Sales or Purchases […]...

Read More
Posted Under: Income Tax |

Service Tax Tax Rate 14% w.e.f. 01-06-2015 and related provisions

The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. 1st June, 2015 is being notified as the date on which the following provisions will come into effect. 1. The rate of Service Tax is being increased from 12% to 14% (including cesses). (Notification No.14/2015-Service Tax, dated 19th May, 2015...

Read More
Posted Under: Income Tax | ,

TDS under Income-tax Act, 1961 on service tax

It is clarified that the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVJI-B of the Act on the amount paid/payable without including such service tax component....

Read More
Posted Under: Income Tax | ,

Implementation of Supreme Court Decision-case of Fiat India Ltd.

The Supreme Court has cited two instances where a manufacturer may sell goods at lower prices and yet the declared value can be ac­cepted- (i) company switching over business and (ii) where goods could not be sold within reasonable time]...

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Posted Under: Income Tax |

FTP : Relaxation in time limit for submission of Installation Certificate by granting extension in the current provisions

However, extension in time for Installation of Capital Goods upto a maximum period of 18 months from the date of completion of import may be considered by the concerned RA. ...

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Posted Under: Income Tax |

Tamilnadu VAT : Reduction in Set off, Transit Pass & CST Sales

Amendment of Section 19- Whenever CST sale is made under Section 8(1) of the CST Act, 1956, the proviso to Section 19(2)(v) as amended seeks to restrict the [ITC] input tax credit by providing that credit shall be allowed in excess of 3%. ...

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Posted Under: Income Tax |

Input Service (Tax) Distribution under Service Tax Act

Provision of the above rules was simple and did not restrict transfer of entire Cenvat Credit to a single unit. This made it easier for Regional office / Head office registered under ISD to transfer the credit under a single Invoice to a particular unit. The said rules have now been amended, putting strictures on the manner of Transfer o...

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Posted Under: Income Tax | ,

Comprehensive Note on Implementation of Negative List Regime

The Union Budget 2012-13 had proposed taxation of services based on a 'Negative list’. With the enactment of the Finance Act, 2012 (the Act) on 28 May 2012, the concept of ‘negative list’ is made applicable and made effective for implementation from 01-07-2012. The Department of Revenue has issued Service tax notifications on 1 June...

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Posted Under: Income Tax |
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