Service Tax articles

Rebate of Excise duty admissible on both inputs & final products

Spentex Industries Ltd. Vs Commissioner of Central Excise (Supreme Court of india)

Whether the Assessee is eligible to claim rebate of Excise duty paid on inputs used in exported goods as well the Excise duty paid on exported final products under Rule 18 of the Central Excise Rules, 2002 (the Excise Rules)?...

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Posted Under: Service Tax |

Penalties Under Service Tax Law

Section 70 (1) late fee for delay in filing the return- If Half-yearly Service Tax Return (ST-3 / ST-3A) is filed after the due date of return filing then, the assessee is required to deposit late fees depending upon the period of delay. Such late fee can be a maximum of Rs. 20,000/- [ Please Refer: Section 70(1), Finance Act, 1994)...

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Analysis of CBEC clarification on chargeability of Service tax on GTA

CA Bimal Jain Background: Goods Transport Agency (“GTA”) has been defined to mean any person who provides service to a person in relation to transport of goods by road and issues consignment note, by whatever name called. In addition to transportation services, GTA also provides various ancillary services such as loading/ unloading, p...

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Avoiding common errors in filing of service tax return

Self assessment under service tax has been started in the year 2001. In any self assessement taxation system, the onus is on the assessee to make true disclosure of all statutory information required to be disclosed. Non/wrong disclosure of any material information could result in allegation of suppression or deliberate wrong disclosure w...

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Is Remuneration Paid To Directors Chargeable To Service Tax??

As per Sec.66B of Finance Act, introduced w.e.f. 01.07.12 which is the new charging section undr Service Tax Provisions, Service ‘agreed to be provided is also taxable. legally, even entering into a contract for provision of service is a taxable event but, liability to pay the tax will be only on actual provision of service or amount re...

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Reverse Charge Mechanism In Service Tax

Under reverse charge mechanism w.e.f. 1-7-2012, the service receiver is liable to pay tax, without any benefit of threshold exemption alongwith service provider also liable for certain percentage on case to case basis (w.e.f. 1.7.2012 as per Notification No. 30/2012-ST, dated 20.6.2012 as amended by Notifications No. 45/2012-ST, dated 7.8...

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VAT, Luxury Tax & Service Tax on Hotel & Restaurant industry

All of us use the services of Hotels and restaurant for stay, meetings, party, get together etc. It is generally been observed that the ultimate payment made by us is much higher than the prices mentioned on the menu list or tariff charts. The difference arises because of 4 major heads:...

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Updated Mega Exemption Notification – Service Tax

The Central Government has exempted many of the services from the levy of Service Tax vide Notification no. 25/2012 – Service Tax dated 20th June, 2012. This notification has undergone various amendments vide various notification. The Original Notification no.25/2012 is updated with those amendments and is represented below for ready re...

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Service Tax On Director’s Remuneration-Instigating Litigation!

The issue regarding leviability of service tax on remuneration paid to the directors has been matter of concern since 07.08.2012 when reverse charge mechanism was introduced vide notification no. 45/2012-ST dated 07.08.2012 for the service tax liability as regards services provided by a director to a company. ...

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Valuation of Non – Monetary Consideration under Service Tax

The term ‘service’ is defined under service tax law to mean any activity for ‘consideration’ by one person for another. In this regard, it is important to note that section 67 of the finance act, 1994 determines consideration to include both monetary as well as non-monetary consideration. ...

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