CA Sanjeev Singhal

ITC on Lift available or not under GST

Goods and Services Tax - Lift is not a machine , it is part of Building, is it true . is the ITC claimable on purchase of Lift . Let us discuss whether lift is machine or Building only we would reach to conclusion of ITC is eligibility. Section 17(5) blocks credit of works contract and goods or services received […]...

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GST Rules 89(5) cannot override Section 54(3) of CGST Act, 2017

Goods and Services Tax - In GST, Rules 89(5) can not override the Section 54(3) The Rules were meant only for the purpose of carrying out the provisions of the Act and they could not take away what was conferred by the Act or cutting down its effect.” This is placed with respect to Section 54(3) of CSGT Act , […]...

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Goods purchased outside India and supplied outside India

Goods and Services Tax - A company dealing in software does development of software and got the order from Thailand for development of software and along with Hardware . a company did development of software and exported to Thailand. But hardware were brought form Hongkong and it has not crossed the territory  of India and directly supplied to Thailand on [&hell...

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GST: Power to Inspection, Search, Seizure, Arrest, Summon & Access to Business Premises

Goods and Services Tax - Section 67 to 71 of  CGST ACT,2017 explains the circumstances where in search, seizure and arrest can be done. Inspection and search and seizure [Section -67] i ] where taxable person suppressed supply of goods or service or both or stock of goods in hand or claim input credit in excess in contravention of the […]...

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Salary from company is part of aggregate turnover for GST threshold?

Goods and Services Tax - Partner salary, income from salary from  Company and various other income interest  on Loan and deposit , Interest on debenture , rent on commercial building , rent on residential unit and Capital Gain on Shares will be added for Aggregate turnover In GST for computing threshold limit of Rs,. 20 Lacs or 40 Lacs. Lets […]...

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Canteen, House keeping & cleaning service- CENVAT credit allowed

M/S. Tata Steel Ltd. Vs. Commissioner Of Central Excise & Service Tax, Jamshedur (Cestat Kolkata) - CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when same was situated within licensed factory premises of Assessee....

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Recent Posts in "CA Sanjeev Singhal"

ITC on Lift available or not under GST

Lift is not a machine , it is part of Building, is it true . is the ITC claimable on purchase of Lift . Let us discuss whether lift is machine or Building only we would reach to conclusion of ITC is eligibility. Section 17(5) blocks credit of works contract and goods or services received […]...

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GST Rules 89(5) cannot override Section 54(3) of CGST Act, 2017

In GST, Rules 89(5) can not override the Section 54(3) The Rules were meant only for the purpose of carrying out the provisions of the Act and they could not take away what was conferred by the Act or cutting down its effect.” This is placed with respect to Section 54(3) of CSGT Act , […]...

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Goods purchased outside India and supplied outside India

A company dealing in software does development of software and got the order from Thailand for development of software and along with Hardware . a company did development of software and exported to Thailand. But hardware were brought form Hongkong and it has not crossed the territory  of India and directly supplied to Thailand on [&hell...

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GST: Power to Inspection, Search, Seizure, Arrest, Summon & Access to Business Premises

Section 67 to 71 of  CGST ACT,2017 explains the circumstances where in search, seizure and arrest can be done. Inspection and search and seizure [Section -67] i ] where taxable person suppressed supply of goods or service or both or stock of goods in hand or claim input credit in excess in contravention of the […]...

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Salary from company is part of aggregate turnover for GST threshold?

Partner salary, income from salary from  Company and various other income interest  on Loan and deposit , Interest on debenture , rent on commercial building , rent on residential unit and Capital Gain on Shares will be added for Aggregate turnover In GST for computing threshold limit of Rs,. 20 Lacs or 40 Lacs. Lets […]...

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No Separate GST registration required for execution of Work Contract in other State

Normally we feel that where the work contract is obtained we should get registration to do purchase in the State . If the contractor is got three work contract in three  different State, we assume that separate registration in required each and every State. Fact is not the same, we can take registration in one […]...

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Stringent Application of ITC Rules – Can business person Breathe

Restricting Input Tax Credit to 20 % as on 09.10.2019 and further squeezed to 10% from 1.1.2020 will kill the  business person or business. Reason is obvious,  as most of supplier of goods or services do not file GSTR-1 on due date and consequently recipient of goods or services can not file Form-3B waiting for […]...

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Penalties, Late Fees And Interest Under GST-Overview 

Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Article explains about Late Fee for delayed or non filing of GST Return, Interest for Late […]...

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SOP on Input Tax Credit under GST in case of 20% cap

Section 43A Rule 36(4) of the CGST Act, 2017 and CGST Rules, 2017 – Restricting the Input Tax Credit (ITC) limit to 20% of the eligible ITC which is as per GSTR-2A. GST Payable now shall be paid. ITC Deferred a/c balance left out now shall be recoverable in next months as when appear in […]...

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Annual Return-GSTR 9

Legal provisions of GST Annual Returns In order to understand the gamut of the GST Annual Returns and its requirement, it would be relevant for us to understand the legal provisions relevant for GST Annual Returns. Two important provisions which are relevant and important in this context are Section 35(5) and Section 44(1) of CGST Act,...

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GST on Housing Societies for rendering Services to its Members

The activities of the housing society attracts the levy of GST and the housing society would be required to register and comply with the GST Law. A Society is akin to a club, which is composed of its members. So, can a service provided by a Housing Society to its members be treated as service provided by one person to another....

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Advance Ruling in GST

In the interest of avoiding litigations and trembling investor confidence, the advance ruling plays a very important role. Through this facility, an investor gets clarity over the ambiguous and complex provisions of the law and gets more stability as far as the taxation is concerned. The concept for Advance ruling was first introduced in ...

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Taxation of Gift- Under Income Tax

A receipt of sum of money or property* without consideration chargeable to tax under S. 56(2)(VII) if the following condition are satisfied. 1. Individual or HUF 2. Received on or after 01.10.2009and  before 01.04.2017 3. Sum of money or property falls in any of the following category 4. It does not fall under exempted category...

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Registration of GST with practical issues

Every one know that GST registration is required the moment you cross threshold limit of Rs. 20 lacs and Rs. 10 lacs in NE States. But the most important is the GST registration is mandatory from the day one without any threshold limit. ...

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Appeals, Review and Revision in GST

Tax laws broadly impose two types of obligation : a] Tax related b] Procedural related. Some times there are situation of actual and perceived non compliance. If difference in views persist , it result into disputes that need to be resolved. There may be different view and opinion on one subject , therefore it is likely that taxpayer may ...

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Analysis: GST on Canteen Food / Services provided by Company to its employees

Advance Ruling U/S 98 of the GST Act- whether recovery of food expenses from employees for the canteen provided by company comes under the definition of outward supplies are taxable under GST Act - Orders issued. Read:-Application dated 30.12.2017 from Caltech Polymers Pvt. Ltd. ORDER No.CT/531118-C3 DATED 26/03/2018...

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Type of Audit in GST

Audit word Speculate that what type of audit is inserted in CGST Act, 2017. Audit can be done by chartered Accountants/ Cost Accountants or by Department itself....

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Kind of Assessment in GST

Assessment of GST returns have been defined in Chapter- XII under section 59 to 64 of the CGST Act, 2017. There are several types of assessment which have been categories as below:...

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Form GSTR-3B of GST- Boon or Curse

Form GSTR--3B is summary return inserted by Government vide Rule 61 of the CGST Rules, 2017 in lieu of Form –GSTR-3. It is a summary return in place of GSTR-3. Form was introduced as time gap arrangement to collect the tax from the payer of tax. ...

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Refund in GST – Applicability and Procedure

Procedure of Refund in GST is time bound and if not paid in time will be subject to interest. It seems to be simple . Circumstances are defined under which tax payer shall be eligible to file for refund and same shall be process a per the prescribed law. Refund of GST is prescribed in Section- 48 of the Revised GST Law....

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Maintenance of Accounts and other Record in GST Law

Rule 56,57 and 58 of Central Goods and Services Tax (CGST) Rules, 2017 specifies the book to be maintained by registered persons, Generation and maintenance of electronic records and Records to be maintained by owner or operator of godown or warehouse and transporters....

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Place of Supply of Goods and Service in IGST law

Supply has been elaborated in IGST law whether the supply is interstate supply or Intra- State supply. This is important aspect of GST because if the supply is Intra- State, then CGST and SGST will be attracted otherwise if the supply is Inter State then IGST will be levied. ...

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Payment of Taxes and Interest in GST Law

How the liabilities in respect of Tax , interest, penalty and other dues under the GST shall be paid, have been summarized hereunder. Same shall be entered in various register etc. All this is prescribed in Section 49 to 50 of the GST Law and GST Payment Rules ,2017....

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Returns under CGST Act, 2017 with Rules

There are number of returns prescribed under GST law. Different returns are prescribed with due date of filing. Returns provisions are provided in Chapter –IX from Section 37 to 48 of the CGST Act,2017. ...

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Provision for Supply of Goods to Job Worker under CGST Act,2017

Provision for supply of goods to Job worker: Registered Person send any goods or capital goods to job worker for job work without the payment of tax, under intimation and subject to such conditions as may be prescribed. The same goods can be sent to another job worker and so on. To effect the above , following condition need to be satisf...

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Valuation of Supply under CGST Bill,2017 and Rules thereof

Value for supply of goods and services is important part of GST. For valuing any goods or services is subject matter of discussion and contentious in nature . Value means price of any goods or service on which tax to be imposed particularly when parties are related or distinct person. This has all been incorporated in Section 15 of the C...

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Time of supply under CGST Act, 2017

1. The liability to pay tax shall arise only at the time of supply of goods. Earliest of the following shall be the time of supply √ Date of issue of invoice or the last date of issue of invoice u/s 31[1] √ At the time of receipt of payment....

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Charging and Collection of Tax under CGST Act, 2017 with Schedules

Charging of tax is the basic of GST on which rates of GST shall be charged. First of all , Activities shall be identify as goods or services and afterward, rate of goods as per rate list and rate of services as per rate list shall be applied. Without knowing the activities are goods or services, rate can not be applied. Therefore it b...

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Input Tax Credit under CGST Act, 2017 and Rules thereof

Input tax credit on input, input services and capital goods is the most contentious issue where always are lot of litigation on admissibility . This is common problem in case of lack of clarity of the provisions and rules under the existing indirect tax as well like Excise , Service Tax and VAT....

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Ingredients of Invoice, debit and credit notes under CGST Act,2017

Invoice is basic document for supply of goods or service. There are circumstances where Taxable Invoice need not be raised only Bill of Supply will be issued .what are circumstances where Taxable Invoice as well as Bill of supply need not be raised and instead Delivery Challan will be sufficient. ...

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Registration, Amendment & Cancellation under CGST Act, 2017

CA Sanjeev Singhal It is important to understand provision of GST law that when the registration is required like at what value of turnover , kind of person covered for registration, what are the situation where registration is required without the threshold limit means after the occurring of particular transaction or transaction by parti...

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Transition Provisions under CGST Act, 2017 and Rules

Transition provision is one time provision which shall be applicable at the time of migration to GST on the appointed day. These provision may be said as most crucial because of migration of existing law in to GST and may face many challenges as well. Provisions have been well laid down in CGST Act,2017 and Rule of Transition....

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Composition Tax under CGST Bill,2017

CGST Bill,2017 under Section -10 provides that small taxpayer can opt for the scheme of composition tax instead of opting for paying tax under the regular supply of goods. Here this should be noted that this option is not available to registered person who is providing only service except supply of service mentioned in clause b of paragr...

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Audit provisions under GST Law

Under the Central Excise and Service Tax laws, there is no requirement for audit of accounts and furnishing reconciliation statement by an accountant except special audit. ...

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Payment of Tax, Interest and Penalty in GST Law

How the liabilities in respect of Tax , interest, penalty and other dues under the GST shall be paid, have been summarized hereunder. How the same shall be entered in various register etc. All this is prescribed in Section 44 and Section 45 of the revised GST Law and GST Payment Rules ,2016....

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Zero Rated Supply and consequences of charging IGST in place of CGST and SGST

What is Zero rated supply and what is the benefit and implication of the such supply. Just look at the provision of the same provided in Revised GST Law and IGST Law...

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Supply and Place of Supply of Goods and Services in IGST Law

Supply is wider term used in GST law as the GST is based on Supply only. Now the question arises what is supply. Supply is transfer of goods and services on which GST will be imposed. Supply has been mainly defined in Section 3 of GST law subject to Schedule- I to IV. ...

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Supply of Goods and Service in GST law

Supply is wider term used in GST law as the GST is based on Supply only. Now the question arises what is supply. Supply is transfer of goods and services on which GST will be imposed. ...

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Returns under Revised Model Draft GST Law

The contents of this article are solely for information and knowledge and does not constitute any professional advice or recommendation. Author does not accept any liability for any loss or damage of any kind arising out of this information set out in the article and any action taken based thereon....

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Time and value of supply under Revised GST law

This chapter will focus on the time of supply of goods and services vis a vis valuation of supply which includes goods and services. Both are very significant part of any business vis a vis taxation. ...

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Composition Tax under Revised GST Law

Revised GST Law under Section -9 provides that small taxpayer can opt for the scheme of composition tax instead of opting for paying tax under the regular supply of goods. Here this should be noted that this option is not available to registered taxable person who is providing only service....

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Registration , Amendmen and Cancellation under Revised GST Law

It is important to understand provision of GST law that when the registration is required like at what value of turnover , kind of person covered for registration, what are the situation where registration is required without the threshold limit means after the occurring of particular transaction or transaction by particular person....

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Provision for Supply of Goods to Job Worker under Revised GST Law

First of all, one need to understand the definition of Job work under Revised GST law . After that it will be easier to understand the provision relating to supply of goods to job worker....

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Input Tax Credit under Revised GST Law

There is drastic change in Capital Goods definition under Revised GST Model Law from Model GST Law. Under GST law definition was very exhaustive though under Revised GST law It is quite simple....

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Transitional Provisions under Revised Model GST law

There are 33 Sections [ Earlier 22 Sections ]under transitional provision of Revised GST Law when all major indirect tax Act’s going to subsumed under the GST Law....

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Provision for Supply of Goods to Job Worker under GST Law

One need to understand definition of Job work under GST law first to easily understand provision relating to supply of goods to job worker. ...

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Time and Value of Supply under GST Law

This chapter will focus on time of supply of goods and services vis a vis valuation of supply which includes goods and services. ...

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Registration, Amendment and Cancellation under GST Law

Every person who is registered under the earlier law shall be issued provisional Number and after submission of requisite documents , GSTIN shall be issued as prescribed....

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Input Tax Credit under GST Law

Before understanding the Input tax credit under GST Law it is essential to understand the changes made in earlier Law i.e. CENVAT under Rule ,2004 to the new law. After giving the due consideration, it is clear from the given table below that except few minor changes, Capital Goods under Rule 2(a) and Section 2[20] are same....

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Transitional Provision under GST law

There are 22 sections under transitional provision of GST Law when all major indirect tax Act’s going to subsumed under the GST Law. This is most important provisions as these are applicable from the appointed day means when the GST Law shall be applicable. ...

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Canteen, House keeping & cleaning service- CENVAT credit allowed

M/S. Tata Steel Ltd. Vs. Commissioner Of Central Excise & Service Tax, Jamshedur (Cestat Kolkata)

CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when same was situated within licensed factory premises of Assessee....

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Service Tax Payable on PF & Bonus Under manpower services

Under manpower services – Provident fund and bonus paid shall be included in taxable service and service tax shall be charged Service Tax Payable on PF & Bonus Under manpower services Section 67 of the Finance Act, 1994- Valuation of Services In case of  “Laxmi  Construction v Commissioner  in CESTAT  Allahabad” 2016 STR 561...

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More Rationality for higher credit in Rule 6 of Cenvat Credit Rule 2004

Rule -6(1) Rule is amended to provide that CENVAT Credit shall not be available on input used for manufacture of exempted goods and input used for empted services. Rule further direct that procedure for calculation of credit not allowed is stated in sub rule (2) and (3) for different situation....

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Exemption of Services –Notification No. 25 dated 20.06.2012 updated till date

List of Exempted Services 1. Services Provided to the United Nations or a specified international organization. 2. With effect from 01.04.2015 (Substituted by Notification No. 06/2015-ST, Dated 01.03.2015) (i) Health care services by a clinical establishment, an authorized medical practitioner or para-medics;...

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Service Tax on Services by Government or local authority

With effect from 14.05.2015 Government means the Departments of the Central Government, a State Government and its Departments and a union territory and its departments but shall not be include any entity, whether created by a statute or otherwise, the accounts of which are not required to be kept in accordance with article 150 of the Co...

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Service Tax on GTA services can be paid out of CENVAT

Service Tax Payable under Transport of Goods on Road or goods Transport Agency service[GTA] can be paid out of CENVAT. Above service is covered under reverse charge mechanism and provided in Notification No. 30/2012 Service Tax dated 20.06.2012 in exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (...

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An overview of Goods and Service Tax (GST)

The GST is a taxation system where there is a single tax in the economy for goods and services. This Taxation System is meant to create a single taxation system in the entire country for all goods and services. GST is destination based tax. The GST is called Single biggest tax reforms after independence. ...

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Understanding Negative List of Services in Depth

1. Department of Posts provides a number of services. What is the status of those services for the purpose of levy of service tax? As per sub-clause (i) of clause (a) of section 66D services provided by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services carried out on payment of commissi...

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Interest Under Service Tax Law

Interest is levied on the assessee when he delays the payment of service tax which is due and payable. If payment of service tax is delayed in accordance with the provisions of Section 68, Interest is charged at the rate not below ten per cent and not exceeding thirty-six per cent per annum. (Please Refer Section 75 of Finance Act, 1994)...

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Penalties Under Service Tax Law

Section 70 (1) late fee for delay in filing the return- If Half-yearly Service Tax Return (ST-3 / ST-3A) is filed after the due date of return filing then, the assessee is required to deposit late fees depending upon the period of delay. Such late fee can be a maximum of Rs. 20,000/- [ Please Refer: Section 70(1), Finance Act, 1994)...

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Changes in Cenvat Credit Rule 4(1) & Rule 4(7) from 01.03.2015 & its applicability with respect to POT Rule 7

Cenvat credit in respect of input to be claimed within six months from the duty paying document with effect from 01.09.2014. [ Notification no. 21/2014- Central Excise dated 11.07.2014 ]- insertion of third proviso to rule 4(1)....

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Income Tax Changes made in Finance Bill,2015 by Lok Sabha

Finance Bill, 2015 was passed in Lok Sabha on 30.04.2015 with certain amendments via notice of amendment dated 30.04.2015. In this article I have covered some of the amendment in Provisions related to Direct Taxes. Read- Lok Sabha approves Finance bill 2015 ...

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Budget 2015- Highlights of Changes in Service tax

Change in Service tax Rate :- The Service tax Rate is being increased from 12% plus Education cess to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of service tax. Thus, effective increase in Service Tax rate will be from existing rate of 12.36% (inclusive of cesses) t...

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Opening the Jugglery of Work Contract under Service Tax

A composite contract means a contract which involves transactions involving an element of provision of service and an element of transfer of title in goods in which various elements are so inextricably linked that they essentially form one composite transaction....

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Changes in Cenvat Credit Rule 4(1) and Rule 4(7) after 10.7.2014

CA Sanjeev Singhal Changes in Cenvat Credit Rule 4(1) and Rule 4(7) after 10.7.2014 and its applicability with   provision applicable before with respect to point of taxation- Rule 7 Rule 4(1) Cenvat credit in respect of input to be claimed within six months from the duty paying document with effect from 01.09.2014. [ Notification no. [...

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Changes made in Budget 2014 by Lok Sabha

The list of changes made in the Finance Bill are as under: 1) Unlisted securities and units of MF transferred between 01-04-14 and 10-07-14 shall be deemed to be long-term capital assets, if held for more than 12 months. 2) Long-term Capital Gains on Units of Mutual Funds transferred between 01-04-14 and 10-07-14 shall be taxable at 10%...

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Budget 2014 – Key Highlights – Income Tax and Service Tax

1. Rates of Income Tax, Surcharge and Cess - There is no change in the rate of income tax, surcharge , education and SHE cess. The rates for AY 2015-16 will remain the same as in AY 2014-15. 2. Income Tax basic exemption Slabs -enhanced . The new income tax basic exemption limits has been increased. The revised limits are as under:...

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Documents, Record and Returns mandatory for CENVAT Credit

Rule 9(1) of Cenvat Credit Rules prescribes that Cenvat Credit can be taken on the basis of ; Invoice of manufacturer from factory Invoice of manufacturer from his depot or premises of consignment agent Invoice issued by registered importer Invoice issued by importer from his premises or consignment registered with Centra...

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CENVAT Credit wrongly taken or utilized –Controversy

No Interest if wrong credit reversed on its own –In Emmellen Biotech v. CCE 2004 (163) ELT 172 (CEGAT), it was held that if Cenvat credit wrongly taken is reversed before issue of show cause notice, interest is not payable- quoted and followed in Hari Krishna Steel Corporation v. CCE 2006 (194) ELT 63 (CESTAT) – same view in Page App...

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CENVAT Credit wrongly taken or erroneously refunded

Where the CENVAT credit has been taken [and] utilized wrongly or has been erroneously refunded, the same along interest shall be recovered from manufacturer or the provider of the output service and the provisions of sections 11A and [11AA] of the Excise Act or sections 73 and 75 of the Finance Act, shall apply mutatis mutandis for effect...

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Conditions for allowing CENVAT – Rule 4 of CCR,2004

Conditions for allowing CENVAT Credit in respect of input /capital goods, Percentage of claiming CENVAT Input in First Year and second year, Condition for allowing credit when goods sent for job work, eligibility of CENVAT when purchase on lease or hire purchase etc. ...

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CENVAT Credit on Input Services

Input Service means any service,- (i) used by a provider of output service for providing an output service; or (ii) used by the manufacturer, whether directly or indirectly, in or in relation to the manufacture of final products and clearance of final products, up to the place of removal, and includes services used in relation to moderniz...

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Distribution of CENVAT by Input Service Distributor

CA. Sanjeev Singhal This rule has been changed by Notification no. 18/2012  dated 17.3.2012 applicable from 1.4.2012. Now this has been made more logical and rational as the distribution of CENVAT to various units has been made realistic. RULE -7 & 7A Manner of Distribution of Credit by ISD The input service distributor may distribut...

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CENVAT Credit of Duty Paid on Capital Goods

CENVAT Credit is available on Capital goods used by manufacturer or service provider. Let us discuss the intricacies of CENVAT on capital goods which is most contentious issue nowadays....

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All about CENVAT Credit Rules, 2004- Part 2

In Continuation to my earlier Article 'All about CENVAT Credit Rules, 2004- Part 1' in which I have discussed Rule 2(A) to Rule 5B of Cenvat Credit Rules,2004.I have discussed Rule 6 to 16 of Cenvat Credit Rules,2004 in this Article....

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Service Tax on Educational Services – Over All View

Education Sector has been given tax benefit all over the globe. In the post Negative List era, it was imperative to appropriately exempt educational and related services . Clause (l) of new section 66D of the Act , exempt the education services from preschool to higher secondary, education as part of curriculum for obtaining a qualificat...

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Service by Non- Profit Entity to its Members- Taxability in Service Tax

S.N. 28 of the Exemption Notification no. 25 /2012 dated 20.6.2012 exempts services by unincorporated body or a non profit entity registered under any law to own members by way of reimbursement of charge or share of contribution. a. As a Trade Union b. For provision of exempted services c. For the common use of its member in a housing ...

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All about CENVAT Credit Rules, 2004- Part 1

From 1.4.2012 , the definition of capital good has been extended to cover all motor vehicles ( other than those covered under the specified tariff heading) for all the category of service provider....

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Taxation of Software –Sale of Goods or Services- Legal Controversy

Information technology services are declared services under Section 66 E (d) - Development, design, programming, customization, adaption, upgradation, enhancement, implementation of information technology software...

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Manpower Supply – Sharing the employees with sister concern is not Services

The facts of the case are the appellant, M/s. Paramount Communications Wire and Cable Ltd., another sister concern company M/s. Paramount Wire and Cable Ltd. were utilising the services of certain common staff located in their common head office at Delhi. ...

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Place of Provision of Service Rule, 2012

The Rules would have applicability in the following instances. Person who deals in cross border services. Person who have operations with suppliers or customers in the state of Jammu and Kashmir. Service provider operating within India from multiple location , without having centralized registration , will find them useful in...

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Valuation of Service- S.67 with Service Tax – ‘Determination of Value’ Rules-2006

In cases where the service provider received any part of the consideration in non monetary form or by way of reimbursement , such item did not figure in the invoice raised, thereby depressing the real value of taxable service....

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All about Point of Taxation in Service Tax

 CA Sanjeev Singhal The Point of Taxation The rules were made applicable from 1.7.2011. The introduction of these rules has shifted the liability to pay tax from cash basis to accrual basis . Input credit can be availed on the basis of invoice when such invoice has been received. Basic Concept A] Associated Enterprises : […]...

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Service Tax Rules- Mostly used in practice

RULE 4: REGISTRATION - Three categories of person liable to get themselves registered under service tax namely:-a. Service Provider of taxable services under section 69(1) b. Person responsible for making payment of service tax as specified in Rule 2 (1) (d) read with section 68. They shall also seek registration under section 69(1) of C...

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All About Abatements in Service Tax

1.Financial leasing services- 10% taxable -Financial leasing includes hire charges but excludes operating lease - The value of taxable service would be 10% i.e. abatement of 90% has been granted unconditionally. Taxability is defined as follows: -Interest chargeable to the extent of 10% -Principal amount not subject to tax ...

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Amendment in Service Tax – Determination of Valuation Rules

Service tax payable by builders - Composition scheme of 25% available to builders done away with?: As per Rule 2A of Service Tax (Determination of Value) Rules, as amended on 17-3-2012 composition scheme of payment of tax @ 25% on value of works contract of construction available to builder, where the total amount charged includes value o...

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