Till September 1, 2014, there was no time limit prescribed under the Credit Rules for availment of Cenvat credit. Various Courts have held that in the absence of any time limit prescribed under the Credit Rules, Cenvat credit can be taken at any time even in some cases, Assessees have been allowed to avail Cenvat […]
In the Union Budget, 2015 presented by the Hon’ble Finance Minister Shri Arun Jaitley on February 28, 2015, Saturday, numerous changes in the Indirect taxes, have been introduced to combat/ surpass the challenges encountered in the way of progress of continued growth and to pave way for smooth implementation of Goods and Services tax (GST). […]
Finance Bill, 2015 vide Clause 107 has proposed certain amendments in the Negative List of services given under Section 66D of the Finance Act thereby removing certain services from the Negative List. Now, in this case, the issue may crop up that the services rendered prior to the date of notification are exigible to Service […]
The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary & Higher Secondary Education cess. Further pursuing with Mr. Narendra Modi’s Dream of Swachh Bharat, a new Chapter VI has been inserted in the Finance Bill, 2015 that contains a […]
Impact of Change of Service tax liability structure from partial reverse charge to full reverse charge on manpower SUPPLY AND SECURITY services in transition period As discussed Supra, Notification No. 30/2012-ST dated 20-06-2012 has been amended vide Notification No. 7/2015-ST dated 01-03-2015, there by shifting the Supply of Manpower and Security services from Partial Reverse […]
This Article Covers the following Topics- 1. Increase in rate of Service tax 2. Swachh Bharat Cess – Enabling Provision 3. Changes in relation to the Negative List – Section 66D of the Finance Act, 1994 4. Various other Sections under the Finance Act, 1994 5. Service Tax Rules, 1994 amended vide Notification No. 5/2015-ST […]
Article Covers the following Topics → Exemption widened on Service provided by transport of export goods by road from the place of removal to a land customs station (LCS) vide Notification No. 4/2015-ST dated 1-03-2015 (Effective From 1-04-2015) → Service Tax Rules, 1994 amended vide Notification No. 5/2015-ST dated 01-03-2015 → Changes in Mega Exemption […]
In the Union Budget, 2015 presented by the Hon’ble Finance Minister Shri. Arun Jaitley on February 28, 2015, Saturday, numerous changes in Direct and Indirect taxes, have been introduced to address the need of hour, the continued growth to contest the challenges paved in the way of progress. Changes in the Chapter V of the […]
We have presented below three video of CA Bimal Jain on Goods and Service Tax (GST). Video with following titles – 1. Goods and Services Tax – Need and Necessity (Part – 1) 2. Overview of Dual GST Model (Part – 2) 3. Highlights of 122nd Constitutional Amendment Bill Goods and Services Tax – Need […]
Hike in Service tax rates (From date to be notified): Service tax rate has been increased from 12.36% (including Education Cess and Secondary and Higher Education Cess) to flat 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the new Service tax rate. The revised rate shall come into effect from a date to be notified.
