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Budget 2016: Exhaustive analysis of Service Tax changes

D.O.F. No.334/8/2016-TRU (29/02/2016)

F. No. 334/8/2016-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) *** Amitabh Kumar Joint Secretary (Tax Research Unit) Tel: 011-23093027; Fax: 011-23093037 E-mail: amitabh.kumar@nic.in D.O.F. No.334/8/2016-TRU   New Delhi, dated February29th, 2016   Dear Madam/Sir, Subject: Union Budget 2016 –...

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Automatic Service tax late payment interest calculator

As we all know that with effect from 01.10.2014 rate of interest on delayed payment of service Tax has been revised based on delay and Turnover in Payment of service tax vide Notification No. 12/2014 dated 11.07.2014. To make the calculation of Interest on delayed payment of Service Tax Easy we have created a Calculator in Excel by which...

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Service tax on services provided by Govt. or Local Authority w.e.f. 1-4-2016 & issues

Presently, in terms of Section 66D(a)(iv) of the Finance Act, 1994 read with Rule 2(1)(d) of the Service Tax Rules, 1994, only ‘support services’ provided by Government or a Local authority to a Business Entity are liable to Service tax under Reverse Charge except (1) renting of immovable property...

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Posted Under: Service Tax |

Current Indirect Tax Litigation – A Nightmare for Assessee

With budget session being round the corner and it being susceptible to both national and international scrutiny, the need for streamlining adjudication machinery for Customs, Central Excise and Service Tax matters has become extremely important. Tax litigations are a natural consequence of growing economy. However, complexities of taxatio...

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E-Commerce: Poised For A Massive Growth Only If…

Various e-commerce companies including the likes of Uber, Makemytrip, Zo Rooms etc are engaged in commercial transactions over the Internet. Customers transact in millions of rupees on these e-platforms where goods (i.e., merchandise) and services (i.e. digital products including travel, tickets, hotels etc) are conveniently bought and so...

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Posted Under: Service Tax |

Service Tax on Services provided by Government

1st April 2016 onwards- Through Notification no. 6/2016-ST dated 18.2.2016, Central Government appoints 1.4.2016 as the date from which the provisions of Section 107(1) of Finance Act, 2015 shall come into effect....

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Service tax Refund on expenses incurred beyond factory gate

One way of reducing burden of tax on export has been to grant refund of service tax under Notification No. 41/2012-ST on services used in relation to export of goods outside India. The refund was allowed in relation to taxable services used beyond the place of removal for export of goods. The intention was to grant refund of tax paid on s...

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Service tax on Educational Services

The Education sector in India is poised at a crucial stage in its growth. Coaching which aids or supplements formal education also play a catalytic role in advancement of Education system in our country. Commercial training and coaching service was introduced in Budget 2003 with a view to tax the mushrooming coaching institutes and traini...

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Service Tax implications on Land Development Agreements

In case of a Real estate and construction industry, where due to various political and economical reasons we have seen that there is a sharp downturn being noted in the sale of residential and commercial construction projects irrespective of fact that the prices of land are still reaching sky high. ...

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Service Tax- Concept of Bundled Service

As the name suggests, ‘bundled services’ are the combination of two or more services. i.e. combination of provision of various services wherein provision of one service is combined with an element of provision of any other service or services....

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