"12 November 2015" Archive

CBEC Clarifications on Swachh Bharat Cess

Swachh Bharat Cess will come into effect from 15th November 2015, at the rate of 0.5% on all services, which are presently liable to service tax. This will translate into a tax of 50 paisa only on every one hundred rupees worth of taxable services. The proceeds from this cess will be used for financing and promoting Swachh Bharat initiati...

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Posted Under: Service Tax |

Swachh Bharat Cess-Air Travel, Life Insurance, Money Changing & Lottery Services

Notification No. 25/2015-Service Tax 12/11/2015

Notification No. 25/2015-Service Tax (7D) The person liable for paying the service tax under sub-rule (7), (7A), (7B) or (7C) of rule 6, shall have the option to pay such amount as determined by multiplying total service tax liability calculated under sub-rule (7), (7A), (7B) or (7C) of rule 6 by 0.5 and dividing the product by 14 (fourte...

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Reverse charge mechanism applicable on Swachh Bharat Cess

Notification No. 24/2015-Service Tax 12/11/2015

Notification No. 24/2015-Service Tax - notification No. 30/2012 - Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012 shall be applicable for the purposes of Swachh Bharat Cess mutatis mutandis....

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Swachh Bharat Cess on abated value: CBEC

Notification No. 23/2015-Service Tax 12/11/2015

Notification No. 23/2015-Service Tax It is hereby clarified that value of taxable services for the purposes of the Swachh Bharat Cess shall be the value as determined in accordance with the Service Tax (Determination of Value) Rules, 2006....

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Service Tax Refund/ Rebate to Exporter of Services– Analysis and Insight

Rule 6A of Service Tax Rules, 1994 is the governing rule to determine whether a particular service is export or not. Rule 6A stipulates six conditions, all the six conditions to be fulfilled cumulatively for service provided or agreed to be provided shall be treated as an export of service –...

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Why Do Waste Time in 'Worrying?' Live The Moment

In life, the only thing you have to do is breathe: everything else is optional only. No individual raindrop ever considers itself responsible for the flood. Life just gives you time and space. It's up to you avail it properly. Look at life through the windshield, not the rear-view mirror. Man cannot take pride in his self, but appreciates...

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Posted Under: Service Tax |

Swachh Bharat Cess – Not So Swachh

The thrust of Modi Government towards clean India has made the government to impose Swachh Bharat Cess. With the objective of financing and promoting Swachh Bharat initiatives, enabling provisions were made in the Finance Bill’ 2015 to empower the Central Government to impose a Swachh Bharat Cess on all or any of the taxable services [&...

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Posted Under: Service Tax |

Reopening based on facts disclosed in Profit & Loss account during Original Assessment not permissible

DCIT Vs M/s. State Farms Corporation of India Ltd. (ITAT Delhi)

DCIT vs. M/s. State Farms Corporation of India Ltd. (ITAT Delhi) Reasons had been taken from the facts disclosed in the assessee's balance sheet as well as reflected in the Profit & Loss account which were also before the AO at the time of original assessment...

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After expiry of 4 Years no notice u/s. 148 can be issued without approval of CCIT or CIT

ITO Vs Smt. Sarti Devi (ITAT Delhi)

According to Section 151(1) proviso if the Assessing Authority who is below the rank of Assistant Commissioner or the Deputy Commissioner want to re­open the 'case after the expiry of 4 years unless the Commissioner is satisfied that it is a fit case for issue of that notice. In the present case ...

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Exemption U/s. 10(23C)(iiiad) cannot be denied merely because assessee have objects other than education in its Trust Deed

ITO Vs Shri Balaji Prem Ashram & Nikhil Vidyalaya (ITAT Chandigarh)

The undisputed facts of the case are that the assessee society does not possess registration under section 12A of the Act for relevant assessment year. From the perusal of return filed by it alongwith Form No.10B shows that it intended to claim exemption under section 11 of the Act...

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