Budget notification

Clarification on service-tax payable where invoice raised before 01.4.2012

Circular No. 158/9/2012 - ST (08/05/2012)

Circular No. 158/9/2012 –ST The rate of service tax has been restored to 12% w.e.f. 1st April 2012. Representations have been received requesting clarification on the rate of tax applicable wherein invoices were raised before 1st April 2012 and the payments shall be after 1st April 2012. Clarification has been requested in case of the 8...

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Harmonisation of Service Tax and Central Excise Registration

F. No. 137/22/2012 – Service Tax (31/03/2012)

It is proposed to prescribe a common application format (as per Annexure 1) for seeking registration under Central Excise as well as Service Tax. It is also proposed to revisit the process of registration under both Central Excise and Service Tax to amend procedures prescribed in respect of registration. The changes proposed in respect of...

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MVAT – Amendment to Rule 53(3)-Increase in rate of reduction on Branch Transfer by 2 per cent

Notification No. VAT 1512/ CR 43/ Taxation-1 (31/03/2012)

These rules may be called the Maharashtra Value Added Tax (Second Amendment) Rules, 2012. 2. In rule 53 of the Maharashtra Value Added Tax Rules,2005, in sub-rule (3), (1) in clause (a), for the words, brackets and figures the amount calculated at the rate notified from time to time, by the Central Government for the purposes of sub-secti...

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Job Work, Advocate, Man power Supply, Transport etc. Service Receiver made liable to pay service tax

Notification No. 15/2012-Service Tax (17/03/2012)

Service Tax The taxable services,— (A) (i) provided or agreed to be provided by an insurance agent to any person carrying on the insurance business; (ii) provided or agreed to be provided by a goods transport agency in respect of transportation of goods by road, where the consignor or the consignee is,— (a) any factory registered unde...

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Interest Subvention Scheme claims to be certified by statutory auditor of bank

RBI/2011-12/344 RPCD.No.PLFS.BC.54/05.04.02/2011-12 (09/01/2012)

In respect of 2 % interest subvention, banks are required to submit their claims on a half-yearly basis as at September 30, 2011 and March 31, 2012, of which, the latter needs to be accompanied by a Statutory Auditor’s certificate certifying the claims for subvention for the entire year ended March 31, 2012 as true and correct. Any rema...

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Mistakes in Budget Bulletins, 2011 related to Custom Duty, Central Excise and Service Tax

F.No. DP/TARIFF/1/10/ (10/03/2011)

Consequent upon the printing and publishing of the Budget Bulletins, 2011 (both Customs and Central Excise & Service Tax), the Directorate of Publicity and Public Relations has subsequently been informed that the following corrections are required to be incorporated in the above said Budget Bulletins, 2011....

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Custom duty notifications dated 27.02.2010 related to Union budget 2010-11 amendments and provisions

NA (28/02/2010)

All the Custom duty Notification including Tariff and Non Tariff issued by Custom department in respect of budget proposals/provisions in Union Budget 2010-11. Read our earlier Post on Major Amendment in Custom Duty made in Budget 2010-11 at the Link given below:-Budget 2010-11: Summary of Major Amendment in Custom duty Laws...

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CBDT Circular No. 3/2008-Income Tax Dated 12-3-2008

Circular No. 3/2008-Income Tax (12/03/2008)

Circular no. 3/ 2008 .1 The Finance Act, 2007 (hereafter referred to as the Act) as passed by the Parliament, received the assent of the President on the 11th day of May, 2007 and has been enacted as Act No. 22 of 2007. This circular explains the substance of the provisions of the Act relating to direct taxes. 2. Changes made by the F...

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Budget 2007- Analysis of Changes in Service Tax

334/1/2007-TRU. (28/02/2007)

Letter F. No. 334/1/2007- TRU dated 28-02-2007- The threshold limit of service tax exemption for small service providers is being increased from the present level of Rs.4 lakhs to Rs.8 lakhs with effect from 01.04.2007, by amending notification No.6/2005-Service Tax, dated 01.03.05 vide notification No. 4/2007-Service Tax, dated 01.03.07....

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October 2020