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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 considering Principal Service Tax Notification 25/2012-Service Tax and subsequent Notifications issued by CBEC from time to time....
Read MoreService Tax - 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...
Read MoreService Tax - 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...
Read MoreService 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 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 agai...
Read MoreService Tax - 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 date...
Read MoreService Tax - Finance bill, 2015 has received the presidential assent on 14th May 2015 and has now become Finance Act, 2015 (NO. 20 OF 2015) . All the provisions which were due to be effective from the date the Finance Bill receives the assent of the President have now been implemented w.e.f. 14th May 2015....
Read MoreService Tax - After being passed by the lower house of Parliament, the Rajya Sabha on Thursday, May 7, 2015 has passed the Finance Bill, 2015. The Bill is already been passed by Lok Sabha on 30.04.2015 and will now needs presidents assent to become and act and effective. Also Read- Lok Sabha approves Finance bill 2015 with […]...
Read MoreService Tax - India is a country of farmers. As a nation, our roots lie in our villages and farms, which have been providing sustenance to our people for generations. Our festivals, fairs and functions are all based on our agricultural heritage and background. You are our Annadaata, for which we are eternally grateful and indebted to you....
Read MoreService Tax - Prime Minister 31 March 2015 My Dear Young friends, With 65% of our population under the age of 35, India is the youngest nation in the world. It is built on your toil and enterprise. You are our competitive advantage- our biggest strength. In your success, lies the success of the nation. Yet, not enough […]...
Read MoreService Tax - A Shrama Yogi like you fulfills many of our nation1s needs. You build India through your sweat and toil. You support the economy with much needed muscle and skills. The products that we use everyday are a result of your labour. Your importance in our society can thus not be emphasized enough....
Read MoreCircular No. 184/3/2015-Service Tax - (03/06/2015) - Circular No. 184/3/2015-ST Dated the 3rd June, 2015 It is further clarified that exemption from service tax still continues to services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having the facility of air-conditioning or central ai...
Read MoreWSU/6(1)2011/IT/Vol-IV/5931 - (21/05/2015) - The Finance Act, 2015 (20 of 2015) has Inserted a new section 192A regarding the payment of accumulated provident fund balance due to an employee. The Provision Shall Take effect from 01st June 2015. Income Tax should be deducted at source (TDS) at the following rates if at the time of payment of th...
Read MoreNotification No. 15/2015-Central Excise (N.T.) - (19/05/2015) - Notification No. 15/2015-Central Excise (N.T.) Dated: May 19, 2015- Amends notification no. 12/2014 CE(NT) - Refund of Unutilized Cenvat Credit under Rule 5B of Cenvat Credit to the Service Provider - No refund in respect of supply of manpower for any purpose or security services w.e.f. 1-6-2015...
Read MoreNotification No. 14/2015-Central Excise (N.T.) - (19/05/2015) - Notification No. 14/2015-Central Excise (N.T.)), Dated: May 19, 2015 Amends Rule 6 of the Cenvat Credit Rules, 2004 - Rate of amount of reversal of Credit increased from 6% to 7% with effect from 1st of June, 2015....
Read MoreD.O.F.No.334/5/2015-TRU, - (19/05/2015) - The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. In the Budget, 2015, certain amendments in the Finance Act, 1994 have been incorporated through the Finance Act, 2015, which will come into effect from a date to be notified. In this regard, 1st June, 2...
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