The government has collected over Rs 300 crore in penalties from new telecom service providers that failed to roll-out their networks within the stipulated timeframe after getting licences and spectrum.”As of last Friday, we have received Rs 300.04 crore penalties, as against total claim of Rs 370.55 crore,” Department of Telecom Secretary R Chandrasekhar told PTI.
Leading drug makers today said that higher excise duty proposed in the Budget 2011-12 would make medicines costlier and hurt the common man. Further, pharmaceutical industry players also feared that imposition of Minimum Alternate Tax (MAT) on Special Economic Zones would adversely impact their profits, since most export units of drug firms are located in various SEZs.
Allaying fears of the industry over introduction of harsh provisions in the service tax rules, a senior Finance Ministry official has said they will be used sparingly against willful defaulters.
NOTIFICATION NO. 18/2011 – SERVICE TAX, DATED 1-3-2011- For the purposes of these rules, unless otherwise stated, ‘point of taxation’ shall be determined in the following manner, namely:-(a) a provision of service shall be treated as having taken place at the time when service is provided or to be provided; and
NOTIFICATION NO. 17/2011-SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act) read with sub-section (3) of section 95 of Finance (No. 2), Act, 2004 (23 of 2004) and sub-section (3) of section 140 of the Finance Act, 2007 (22 of 2007) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 9/2009-Service Tax, dated the 3rd March, 2009,
NOTIFICATION NO. 16/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 1/2006-Service Tax, dated the 1st March, 2006, published in the Gazette of India, vide number G.S.R.115(E), dated the 1st March, 2006, namely :—
NOTIFICATION NO. 15/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 8/2006-Service Tax, dated the 19th April, 2006, published in the Gazette of India, Extraordinary, vide number G.S.R. 224 (E), dated the 19th April, 2006, namely:–
Service Tax : Interest payable – Notified rate of interest under section 75 – Amendment in Notification No. 26/2004-ST, dated 10-9-2004 NOTIFICATION NO. 14/2011-SERVICE TAX, DATED 1-3-2011 In exercise of the powers conferred by section 75 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following amendment in the notification […]
NOTIFICATION NO. 13/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sections 93 and 94 read with section 66A of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following rules further to amend the Taxation of Services (Provided from Outside India and Received in India) Rules, 2006, namely :— 1. (1) These rules may be called the Taxation of Services (Provided from Outside India and Received in India) Amendment Rules, 2011.
NOTIFICATION NO. 12/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Export of Services Rules, 2005, namely :—
