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...
Income Tax : Simplification of Tax Deduction at Source (TDS) mechanism for Employees Provident Fund Scheme (EPFS) Under the Employees Provident...
Service Tax : Shivani Mangla Services covered under Reverse Charge Mechanism from 01.06.2015 (with % and type of person) S.No. Description of se...
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...
Excise Duty : AMENDMENTS IN CENTRAL EXCISE ACT, 1944-1. Factors of Production for Tobacco Related Products – Explanation 3 to Section 3A- This...
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...
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...
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...
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...
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...
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...
Income Tax : The Finance Act, 2015 (20 of 2015) has Inserted a new section 192A regarding the payment of accumulated provident fund balance due...
Excise Duty : Notification No. 15/2015-Central Excise (N.T.) Dated: May 19, 2015- Amends notification no. 12/2014 CE(NT) - Refund of Unutilized ...
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...
Service Tax : The Finance Bill, 2015, has received the assent of the Honorable President and has been notified. In the Budget, 2015, certain ame...
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.
INANCE BILL 2015 RECEIVED PRESIDENT ASSENT Finance Bill, 2015 has got President Assent on 14th May, 2015 and has become Finance Act, 2015. As you know, Finance Bill 2015 has proposed lot of changes in Service tax provisions, applicable with effect from various dates. Now with the enactment of Finance Bill, 2015, following changes have […]
We are summarizing hereunder the changes in Service tax that are effective from May 14, 2015 and the changes that will become effective only from the date to be notified later for easy digest:
The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 now becomes Finance Act (No.20), 2015. However, it is to be noted here that increase in the rate of Service tax from 12.36% to flat 14% (Subsuming Education cess and Secondary & Higher Secondary Education cess) as was proposed in the Union Budget, 2015 will become effective only after the date to be notified and not effective from May 14, 2015.
The Finance Act 2015 comes with many additional benefits for an individual assessee. Here an attempt is made to discuss all provision providing additional benefits to assessee by finance act. Particulars of Tax Benefits Exiting Provision Deduction / Benefit allowed Effective Date of Amendment Tax benefits under section 80C for the girl child under the […]
The Finance Bill 2015 presented by the Hon’ble Finance Minister in the Lok Sabha on 28th February, 2015 had proposed for various amendments in the provisions dealing with Service Tax under Finance Act, 1994 and Service Tax Rules, 1994. Also, the same had undergone various amendments post discussions in Lok Sabha vide Notice of Amendments dt 29th April, 2015.
The Finance Bill, 2015 has been enacted as Finance Act, 2015 (Act No. 20 of 2015) on 14th May, 2015 after the assent of President of India. The provisions of Finance Act, 2015 shall therefore, become applicable w.e.f. 14.05.2015 save as otherwise provided in the Act. Such provisions shall be notified to be in force only from the notified date for which a notification shall be issued soon.
On 14-05-2015, Finance Bill 2015 has become Finance Act 2015 as it received assent from the president. Let us analyse certain provisions which become applicable on enactment of the Finance Bill 2015
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 […]
The Hon’ble Finance Minister in the recent Union Budget 2015-16 announced in the floor of the Parliament that As part of the movement towards GST, I propose to subsume the Education Cess and the Secondary and Higher Education Cess in Central Excise duty.
