CBEC notifies person liable for paying service tax in case of services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India.
As per Rule 114E of the Income Tax Rules 1962, for and from 2016-17, all companies have to be furnish SFT in respect of certain specified transactions as tabulated below:
CBEC excludes such persons from the definition of aggregator who enable a potential customer to connect with persons providing services by way of renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes subject to fulfillment of certain conditions;
CBEC withdraw exemption from service tax for services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India; (ii) exempt services provided by a business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch.
Article Analyses changes bought in the definitions of ‘Adjudicating Authority’ and ‘Agent’ under revised Model GST law
Regarding amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIR of duty drawback
The evidence of import in lieu of BoE in permitted/approved conditions will be created and uploaded by AD Category – I bank of the importer in the form of BoE data
Grace period of 5 days is allowed for the employers to deposit EPF contribution and other dues for the month of December, 2016 by 20th January, 2017.
The Constitution Amendment Bill on Goods and Services Tax (GST) has received Presidential assent post its passage in both the houses of Parliament and ratification by over one-half of the State Legislatures. The GST Council, headed by the Union Finance Minister with all the State Finance Ministers as members, is in the process of finalizing
Stressing the implementation of GST, FM says that most of the issues have been resolved; few critical issues are left which will be resolved in next few weeks.
