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Budget 2015-16

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Updated List of Exempt Services under Service Tax

Service Tax : In this Article we have prepared a List of Services which are exempt from Service Tax as on date from Service Tax after considerin...

September 7, 2016 628892 Views 56 comments Print

TDS on EPF and Submission of Form 15G & 15H

Income Tax : Simplification of Tax Deduction at Source (TDS) mechanism for Employees Provident Fund Scheme (EPFS) Under the Employees Provident...

October 28, 2015 19992 Views 1 comment Print

Services covered under Reverse Charge Mechanism from 01.06.2015

Service Tax : Shivani Mangla Services covered under Reverse Charge Mechanism from 01.06.2015 (with % and type of person) S.No. Description of se...

July 11, 2015 13188 Views 7 comments Print

Recent Changes In Service Tax Appellate Provisions

Service Tax : Amendments shall have the following effect w.e.f. 14.05.2015– (1) The remedy of appeal to Tribunal u/s 86 is not available in e...

July 7, 2015 12351 Views 0 comment Print

Summary of Amendments in Indirect Taxes by Budget 2015

Excise Duty : AMENDMENTS IN CENTRAL EXCISE ACT, 1944-1. Factors of Production for Tobacco Related Products – Explanation 3 to Section 3A- This...

July 6, 2015 6727 Views 1 comment Print


Latest News


Download Finance Bill 2015 approved by President of India

Income Tax : Finance bill, 2015 has received the presidential assent on 14th May 2015 and has now become Finance Act, 2015 (NO. 20 OF 2015) . A...

May 18, 2015 23902 Views 0 comment Print

Rajya Sabha passes Finance Bill, 2015

Income Tax : After being passed by the lower house of Parliament, the Rajya Sabha on Thursday, May 7, 2015 has passed the Finance Bill, 2015. T...

May 9, 2015 8660 Views 0 comment Print

PM Letter to Farmers on Budget 2015

Finance : India is a country of farmers. As a nation, our roots lie in our villages and farms, which have been providing sustenance to our p...

May 1, 2015 946 Views 0 comment Print

PM Letter to youth of the country on Budget 2015

Finance : Prime Minister 31 March 2015 My Dear Young friends, With 65% of our population under the age of 35, India is the youngest nation i...

May 1, 2015 604 Views 0 comment Print

PM Letter to Industrial Workers on Budget 2015

Finance : A Shrama Yogi like you fulfills many of our nation1s needs. You build India through your sweat and toil. You support the economy w...

May 1, 2015 549 Views 0 comment Print


Latest Notifications


Clarification on rate of service tax on restaurant service

Service Tax : Circular No. 184/3/2015-ST Dated the 3rd June, 2015 It is further clarified that exemption from service tax still continues to ser...

June 3, 2015 34636 Views 0 comment Print

TDS on withdrawal from PF wef 1st June 2015

Income Tax : The Finance Act, 2015 (20 of 2015) has Inserted a new section 192A regarding the payment of accumulated provident fund balance due...

May 21, 2015 39518 Views 32 comments Print

Reg. Refund of Unutilized Cenvat Credit and on supply of manpower services

Excise Duty : Notification No. 15/2015-Central Excise (N.T.) Dated: May 19, 2015- Amends notification no. 12/2014 CE(NT) - Refund of Unutilized ...

May 19, 2015 1625 Views 0 comment Print

Cenavt Credit reversal rate increased to 7% under rule 6 wef 01.06.2015

Excise Duty : Notification No. 14/2015-Central Excise (N.T.)), Dated: May 19, 2015 Amends Rule 6 of the Cenvat Credit Rules, 2004 - Rate of amo...

May 19, 2015 8151 Views 0 comment Print

Service Tax Changes applicable from 01.06.2015

Service Tax : The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. In the Budget, 2015, certain ame...

May 19, 2015 104393 Views 0 comment Print


Latest Posts in Budget 2015-16

Updated List of Exempt Services under Service Tax

September 7, 2016 628892 Views 56 comments Print

In this Article we have prepared a List of Services which are exempt from Service Tax as on date from Service Tax after considering Principal Service Tax Notification 25/2012-Service Tax and subsequent Notifications issued by CBEC from time to time.

TDS on EPF and Submission of Form 15G & 15H

October 28, 2015 19992 Views 1 comment Print

Simplification of Tax Deduction at Source (TDS) mechanism for Employees Provident Fund Scheme (EPFS) Under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF & MP Act, 1952), certain specified employers are required to comply with the Employees Provident Fund Scheme, 1952 (EPFS). However, these employers are also permitted to establish and manage their […]

Services covered under Reverse Charge Mechanism from 01.06.2015

July 11, 2015 13188 Views 7 comments Print

Shivani Mangla Services covered under Reverse Charge Mechanism from 01.06.2015 (with % and type of person) S.No. Description of service Service Provider Service Receiver 1 Insurance Agency Services Insurance Agent Any person carrying on insurance business NIL (0%) 100% (14%) 1A Recovery Agent Services Recovery Agent Banking co./ Financial inst./NBFC NIL (0%) 100% (14%) 1B […]

Recent Changes In Service Tax Appellate Provisions

July 7, 2015 12351 Views 0 comment Print

Amendments shall have the following effect w.e.f. 14.05.2015– (1) The remedy of appeal to Tribunal u/s 86 is not available in every case as it has now been provided subject to the saving clause ‘save as otherwise provided herein’. The provisos added provide that saving. Thus, scope of section 86 has been curtailed. (2) Any appeal against the order of Commissioner (Appeal) in relation to matters concerning rebate of Service Tax (e.g. exports) shall be governed in terms of section 35EE of Central Excise Act, 1944.

Summary of Amendments in Indirect Taxes by Budget 2015

July 6, 2015 6727 Views 1 comment Print

AMENDMENTS IN CENTRAL EXCISE ACT, 1944-1. Factors of Production for Tobacco Related Products – Explanation 3 to Section 3A- This amendment will enable the Central Government to specify more than one factor relevant to the production of notified goods under Section 3A. Accordingly, Central Government has issued NN 4/2015 & NN 5/2015 dated 1st March 2015 to specify more factors for Chewing Tobacco / Unmanufactured Tobacco and Pan Masala respectively. In those notifications, the factors which are relevant to the production of notified goods are

Applicability of Service Tax on Entry to Amusement Facility

July 2, 2015 18299 Views 1 comment Print

Access to amusement facilities was not covered under the scope of service tax till 31st May,2015 was mainly due to the reasons that entertainment duty falls in the State List i.e. only the State Governments can impose any kind of tax on them as per the Entry No. 62 of List II of Schedule VII of Constitution.

Impact of Service Tax on Uber, Ola!!

June 27, 2015 31441 Views 6 comments Print

The dawn of Cab aggregators Uber, Ola, etc.., has been seen in India in recent times, but the laws pertaining to service tax in the aggregators model of service was in gray. The aggregator model of service is new in India and there has been a lack of clarity about service tax rules that must apply toward Uber, Ola, etc…

Amnesty on pending SCNs for 30 days… from 14/05/2015

June 15, 2015 1835 Views 0 comment Print

The Finance Act,2015 has come into effect from 14/05/2015.The new liberalized scheme on penalties under section 76 and 78 has been made applicable to all pending SCNs in Service tax matters and no order has been passed,till this date.The newly inserted section 78B,in the Finance Bill,2015 had specifically clarified this.

Service tax on Amusement Parks and Entertainment events

June 13, 2015 32690 Views 7 comments Print

Service Tax shall be levied on the service provided by way of access to amusement facility providing fun or recreation by means of rides, gaming devices or bowling alleys in amusement parks, amusement arcades, water parks and theme parks.

Analysis of Service tax applicability on Chit Fund

June 11, 2015 49031 Views 14 comments Print

Amendment made by Finance Bill, 2015 by way of insertion of explanation to Sec 65B(44) , it is clear that the Govt. intends to collect the service tax on foreman commission . However, it is well settled position of the law that the any explanation bringing the new activity into tax net would not be having a retrospective effect unless the explanation being inserted retrospectively, which is not so in this case. Thus, the tax chargeable on chit fund service will be prospective i.e from the date of enactment of Finance Act, 2015.