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ACES Service Desk work till late on 1st Four Saturdays of Oct 2016

The ACES Service Desk functions on working days from Monday to Friday between 9 AM and 7 PM and on Saturdays between 9 AM to 2.30 PM. However, the Service Desk will remain open from 9AM to 7PM on all Saturdays (i.e., 01.10.2016, 08.10.2016, 15.10.2016 & 22.10.2016) in the month of October, 2016 also and […]...

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Posted Under: Service Tax |

Excise & Service Tax Registrants to get converted into PAN based Registrant

All the TEMP based Registrants (Central Excise & Service Tax) are advised to get converted into PAN based Registrants immediately since only the PAN based Registrants will be considered for migration to GSTN for GST implementation. For details: File1_Active_Registration click here File2-Active Registration-No payment click here File3-...

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Posted Under: Service Tax |

Indirect Tax collections upto August 2016 shows 27.5% increase

The figures for indirect tax collections (Central Excise, Service Tax and Customs) upto August 2016 show that net revenue collections are at Rs 3.36 lakh crore which is 27.5% more than the net collections for the corresponding period last year. Till August 2016, 43.2% of the Budget Estimates of indirect taxes for Financial Year 2016-17 ha...

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Posted Under: Service Tax |

CAG criticises Service Tax VCES, 2013

The Performance Audit of CAG revealed deficiencies in the design and enabling provisions of the Service Tax Voluntary Compliance Encouragement Scheme, 2013 (VCES), non-compliance to provisions prescribed in various stages and inadequacies in tax administration ...

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Posted Under: Service Tax |

Direct / Indirect Tax Collections up to July, 2016

Indirect Tax Collections up to July, 2016 indicate net revenue collections of Rs.2,71,719 crore as compared to Rs.209217 crore in the corresponding period last year and thereby registering an increase of 29.9% over the corresponding period; 34.9% of the Budget Estimates of indirect taxes for FY 2016-17 achieved till July 2016. ...

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Posted Under: Service Tax |

Growth in Direct/Indirect tax collection of 1st quarter of 2016-17

The direct tax collections upto June, 2016 indicate net revenue collection of Rs.1.24 lakh crore which is a growth of 24.79% over the corresponding period last year. The main reason for this increase is the change in the requirements for advance tax payment even in respect of individuals which has been made in the last year’s Budget. ...

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Posted Under: Service Tax |

CBEC relaxes norms for recovery of confirmed demands

The Circular further provides that in cases where demand is confirmed by Hon’ble CESTAT or Hon’ble High Court recovery proceeding may be initiated after a period of sixty days from the date of the order provided that no stay is in operation. ...

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Posted Under: Service Tax |

Survey claims Attitudinal change in CBEC senior functionaries

Tax payers Survey got conducted by Central Board of Excise & Customs (CBEC) for garnering a feedback on impact that reforms undertaken during the last two years; Responses showed that 45% of the respondents saw an attitudinal change in senior functionaries (Commissioner level and above); and 51% acknowledged an improvement at the ground l...

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Posted Under: Service Tax |

Major Take Aways from Annual Conference of Tax Administrators

The take-aways from the Conference on the CBEC side are:- 1. Need for preparation for roll-out of GST with focus on IT and increased capacity building through training of officers. 2. Need to focus on Dispute Resolution: Identify 20 topmost litigated issues and examine from policy perspective whether any intervention is required....

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Posted Under: Service Tax |

PM to inaugurate 2 day Annual Conference of CBDT & CBEC

Prime Minister to inaugurate the two day Annual Conference of Tax Administrators 2016 on 16th June, 2016 in the national capital; For First time that two Revenue Boards i.e. CBDT & CBEC are holding the Conference simultaneously;...

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Posted Under: Service Tax |