Goods and Services Tax : GST Council excludes Extra Neutral Alcohol (ENA) from GST, providing significant relief to the alco-beverage industry. Learn about...
Goods and Services Tax : Discover the key decisions from the 53rd GST Council Meeting held on 22nd June 2024, including compliance measures, tax clarificat...
Goods and Services Tax : Explore the latest from the GST Council meeting post-election, including reforms, decisions, and implications for GST in India's t...
Goods and Services Tax : Insights on Indias robust economy, post-election government, GST updates, and revenue growth. Analysis of NSO data, election outco...
Goods and Services Tax : CBIC issues guidelines for initiating recovery proceedings before three months of the demand order service, ensuring revenue prote...
Goods and Services Tax : Explore the robust growth in GST collection for FY 2023-24, crossing Rs. 20 lakh crore, reflecting economic resilience and improve...
Goods and Services Tax : April, 2023 has registered a revenue collection (GST) at Rs. 187 lakh crore, which is the highest ever since introduction of GST i...
Goods and Services Tax : GST book on ‘Assessment, Adjudication, Demand & Recovery’ provides a one point lucid guide which is an easy to und...
Finance : A realistic consequence of COVID pendamic could be counted in terms of loss of jobs, stagnant or reduced employment opportunities,...
Goods and Services Tax : New Book on GST Namely Compendium of Judicial Pronouncements (Relevant under GST Regime) Authored by Dr. Sanjiv Agarwal and publi...
Service Tax : Explore exemption under Entry No. 14 for machining of rails in case of Voestalpine VAE VKN India Pvt. Ltd. vs. Commissioner of Cen...
Goods and Services Tax : AAAR held that supply of coaching service by the appellant along with supply of goods/printed material/test papers, uniform, bags ...
Goods and Services Tax : Chandra Prakash Mishra Vs Flipkart India Private Limited & Ors. (Supreme Court of India) In Chandra Prakash Mishra v. Flipkart...
Goods and Services Tax : In re Resonance Eduventures Limited (GST AAR Rajasthan) The order is important as it contradicts its own ruling in Symmetric Infra...
Goods and Services Tax : In re Symmetric Infrastructure Private Limited (GST AAR Rajasthan) Q.1 Applicant supplies services of coaching to students which a...
W.e.f. 1.3.2011, Rule 6(6A) had been inserted in Cenvat Credit Rules, 2004 to allow provision of services without payment of service tax to a unit in Special Economic Zones (SEZ) or to a developer in SEZ for their authorized operations, without requirement of reversal of any Cenvat credit on this account. This will help in tax-free receipt of services by units and developers in SEZs.
The capital goods which are used by the manufacturer or the service provider and which do not fall within the ambit of definition of input in rule 2(k) are to be treated as inputs and are entitled for the Cenvat credit.
Audit under service tax is covered by section 14AA of Central Excise Act, 1944 as applicable to service tax and section 72A inserted by the Finance Act, 2012 w.e.f. 28-5-2012. The Central Board of Excise and Customs (CBEC) has issued guidelines for audit of accounts of Service Tax assessees.
Literally, ‘bundle’ means a collection of things, or a quantity of material, tied or wrapped together; tie up or roll up a number of things together as though into a parcel. The word ‘bundle’ has been used for the first time in the Service Tax and it has been interchangeably used with the expression ‘specified descriptions of services’. What is meant by specified descriptions of services has not been defined or explained in the Act.
The elections are over and the results out. Delhi and Rajasthan will have new Governments i.e., change of political parties governing the state. Rajasthan is going to have a full majority BJP led Government now in power for full term of five years.
Reverse Charge Mechanism – Normally, service tax is payable by person who provides the service. Section 68(2) makes provision for reverse charge i.e. making person receiving the service liable to pay tax. Authority for reverse charge u/s 68(2) of Finance Act, 1994
According to Rule 5 of Service Tax Rules, 1994, records include computerized data and means the record as maintained by an assessee in accordance with the various laws in force from time to time. Records maintained as such shall be acceptable to Central Excise Officer.
A service is taxable only when, inter alia, it is provided (or agreed to be provided) in the taxable territory. Thus, the taxability of a service will be determined based on the place of its provision. For determining the taxability of a service, therefore, one needs to ask the following questions sequentially:—
None of the provisions provided for personal penalty on partners / proprietor of the firm. However, section 77 talks of any person but such expression ‘any person’ does not imply more than one person or ‘firm as well as partner’ for the same offence. If it is meant to be such, it may result in double penalty or even more.
Section 86 provides a second stage appellate platform for making appeal against the orders under section 73, 83A or 85.
