Service Tax articles

Limit on Interest deduction- Section 94B wef 01.04.2017

As per the newly inserted section 94B through Finance Act 2017, there shall be a limit on the amount of interest deduction in certain specified cases. Provisions have been explained in this tax alert....

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Posted Under: Service Tax |

Budget 2017-Important Changes in Service Tax

The application fee for seeking advance ruling is to be increased from rupees two thousand five hundred(Rs 2500/-) to rupees ten thousand(Rs.10,000/-) on the lines of the Income Tax Act.( Section 96C(3) of the Finance Act, 1994)...

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Posted Under: Service Tax |

Construction Industry be Careful: Budget overrides Delhi HC Judgment- Suresh Kumar Bansal

Amid of all this steps an amendment has also been made under service tax laws relating to valuation of Construction Service. The real estate sector currently comes under the ambit of service tax, when it receives sum from its buyers during the construction period ...

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Posted Under: Service Tax |

Union Budget 2017- Highlights of Service Tax Proposals

A new section 96HA proposed to be inserted so as to provide for transferring the pending applications before the Authority for Advance Rulings (Central Excise, Customs and Service Tax) to the Authority constituted under section 245-O of the Income-tax Act from the stage at which such proceedings stood as on the date on which the Finance B...

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Posted Under: Service Tax |

Executive Summary of Finance Bill, 2017–Service Tax

This Article is Exhaustive analysis of Amendment in Service Tax related provisions  proposed by Finance Act 2017 or Union Budget 2017 in a Tabular Format. Article explain in simple Language Relevant Clause of Finance Bill 2017 as Presented in Lok Sabha, Nature of Amendment, Date of Applicability of Amendment and a Brief on amendment in [...

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Posted Under: Service Tax |

Union Budget 2017: Key Changes in Service Tax

Article Covers Changes in Service Tax carried out by union budget 2017 including changes in negative list, advance authority rules, changes in Service Tax applicability on some services etc....

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Tabular Analysis of Service Tax Amendments vide Budget 2017

Article Discusses Proposed Amendment in Service Tax Provisions related to Legislative changes, Changes regarding Authority for Advance Ruling, New Exemptions and Rationalisation measure under Union Budget 2017. A. Legislative changes Existing Proposed 1. The Negative List entry in respect of “services by way of carrying out any proce...

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Finance Bill 2017 – Service Tax Proposals

Union Finance Minister, Shri Arun Jaitley has tabled the Finance Bill, 2017 in Lok Sabha today. As the Government is determined to introduce Goods and Services Tax (GST), the biggest ever indirect tax reform of Independent India, the Finance Bill,2017 amendments with respect to Service Tax is kept at minimum....

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Posted Under: Service Tax |

Union Budget 2017-18: Key expectations and highlights

Amidst expectation of this Budget to be the last Budget for present Indirect tax regime and July 1, 2017 marking GST advent, gist of the key anticipations which could be addressed are as follows: ...

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