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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 629651 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 20049 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 13251 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 12381 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 23917 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 8693 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 967 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 607 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 561 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 34918 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 39554 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 1640 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 104477 Views 0 comment Print

Benefits to middle class tax payers from Budget 2015

February 28, 2015 7917 Views 0 comment Print

Tax proposals  in Budget 2015-16 which benefits middle class tax payers.  The proposals in this regard are as follows : Ø Increase in the limit of deduction in respect of health insurance premium from Rs. 15,000 to Rs.  25,000. o  For senior citizens the limit will stand increased to Rs.  30,000  from the existing Rs.  20,000. […]

FM to present Black Money Bill in Current Session

February 28, 2015 1313 Views 0 comment Print

The Union Finance Minister Shri Arun Jaitley has said that a Bill to enact a new law to deal with black money is to be introduced in the current session of the Parliament. In his Budget Speech in the Lok Sabha here today, giving details of proposed key features of the law, the Finance Minister […]

Live Budget updates 2015-16 on Tax and Law Front

February 28, 2015 9368 Views 0 comment Print

Taxguru team brings out live updates on tax Proposals from Union Budget 2015-16 100% deduction for contribution to Swachch Bharat and Clean Ganga schemes Investment in Sukanya Samridhi Scheme will be fully exempted from tax No Change in Tax Slabs and 80C Limit Tax Benefits on Income upto Rs. 4.42 Lakh. Yoga included in the […]

Excise- Clarification regarding place of removal – reg

February 28, 2015 3716 Views 0 comment Print

Attention is invited to Circular No. 988/12/2014-CX dated 20.10.2014 issued from F. No. 267/49/2013-CX.8 on the above subject wherein it was clarified that the place of removal needs to be ascertained in terms of provisions of Central Excise Act, 1944 read with provisions of the Sale of Goods Act, 1930 and that payment of transport, payment of insurance etc are not the relevant considerations to ascertain the place of removal.

Withdrawal of prosecution filed in a court – reg

February 28, 2015 2710 Views 0 comment Print

In cases where a complaint has already been filed in the court, it will be upto the court to decide whether or not to pursue prosecution in terms of Section 257 and 321 of Cr. P.C. 1973. If the order for withdrawal has been given by a court, the prosecution can be withdrawn by the Assistant Collector after getting a formal order from the Principal Collector.

Simplification of Registration Procedures in Central Excise and Service Tax

February 28, 2015 3113 Views 1 comment Print

Registration process in Central Excise has been prescribed vide Notification no 35/2001-C.E(N.T) dt 26-6-2001 as amended from time to time. The prescribed procedure has been amended by notification no. 07/2015-CE (N.T.) dated 01.03.2015 to simplify the procedure and improve the ease in doing business in manufacturing.

Recovery of arrears in installments and amendment of Garnishee Notice

February 28, 2015 7277 Views 0 comment Print

Your attention is invited to provisions of sub-section (2) of section 11 of the Central Excise Act, 1944. Central Excise Officers are empowered under this provision to issue an order to any other person from whom money is due to such person from whom recovery of arrears is required to be made. Such notice for recovery to the other person is generally referred as Garnishee Notice. Similar provisions are contained in section 142(1)(d) of the Customs Act, 1962 and section 87(b) of the Finance Act, 1994 .

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