Budget notification

Simplification of Registration Procedures in Central Excise and Service Tax

Circular No. 997/04/2015-Central Excise (28/02/2015)

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....

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Recovery of arrears in installments and amendment of Garnishee Notice

Circular No. 996/03/2015-Central Excise (28/02/2015)

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 ...

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Printing of Budget Documents of Union Budget 2015-16 Commenced

NA (20/02/2015)

After the Lok Sabha General Elections in 2014, Bharatiya Janta Party (BJP) led by Shri Shri Narendra Modi formed the Government at the Centre in May 2014. Shri Arun Jaitley took over the charge as the Finance Minister in the new Government. He presented his First Budget in Parliament on 10th July, 2014. This will be his second Budget as t...

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Manner of distribution of common input service credit under rule 7(d) of the Cenvat Credit Rules, 2004 – regarding.

Circular No. 178/4/2014-ST (11/07/2014)

Circular No. 178/4/2014-ST- Dated- 11th July, 2014 Doubts have been raised regarding the manner and extent of the distribution of common input service credit in terms of amended rule 7 [especially rule 7(d)] of the Cenvat Credit Rules, 2004 (CCR). Rule 7 provides for the mechanism of distribution of common input service credit by the Inpu...

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Budget 2014 – Resident private limited company can make application for Advance Ruling in Service tax

Notification No. 15/2014-Service Tax (11/07/2014)

(a) private limited company shall have the same meaning as is assigned to private company in clause (68) of section 2 of the Companies Act, 2013 (18 of 2013); (b) resident shall have the same meaning as is assigned to it in clause (42) of section 2 read with sub-section (3) of section 6 of the Income-tax Act, 1961 (43 of 1961)....

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Budget 2014- Changes in Place of Provision of Services Rules, 2012

Notification No. 14/2014-Service Tax (11/07/2014)

Budget 2014- Changes in Place of Provision of Services Rules, 2012 Vide Notification No. 14/2014-ST Dated 11-7-2014 (Effective From 1-10-2014)....

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Amendment in Point of Taxation Rules in respect of Reverse Charge

Notification No. 13/2014-Service Tax (11/07/2014)

(a) if payment is made within a period of six months of the date of invoice, be the date on which payment is made; (b) if payment is not made within a period of six months of the date of invoice, be determined as if rule 7 and this rule do not exist....

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Rate of interest for delayed payment of service tax wef 01.10.2014

Notification No. 12/2014-Service Tax (11/07/2014)

18 per cent. for the first six months of delay; 24 per cent. for the period beyond six months up to one year and 30 per cent. for any delay beyond one year....

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Changes in Service Tax (Determination of Value) Rules, 2006

Notification No. 11/2014-Service Tax (11/07/2014)

G.S.R. 480(E).- In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act,1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax (Determination of Value) Rules, 2006...

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Budget 2014 – Changes in Reverse Charge Mechanism

Notification No. 10/2014-Service Tax (11/07/2014)

(d) in serial number 7, against item (b), in columns (3) and (4), for the existing entries, the entries 50% and 50% shall respectively be substituted with effect from the 1st day of October, 2014....

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