Goods and Services Tax : GSTN has made Table 3.2 of GSTR-3B non-editable with auto-population from GSTR-1/1A/IFF. The update ensures consistency in inter-S...
Goods and Services Tax : Lower GST rates and tax reforms boosted consumption and manufacturing, driving India’s GDP growth to 8.2% despite global economi...
Corporate Law : India implements four new Labour Codes consolidating 29 old laws, modernizing wage, safety, and social security regulations, while...
Goods and Services Tax : Tribunal introduced a phased filing schedule to prevent system congestion on new electronic platform. The directive ensures orderl...
Goods and Services Tax : Essential steps for filing GST appeals before the Appellate Tribunal, covering order review, appeal drafting, documentation, and a...
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...
(a) Any invoice, bill or challan issued under Rule 4A can be issued electronically. (b) Consignment note under Rule 4B can be issued electronically. (c) Such electronically issued invoices, consignment note etc shall have to be authenticated by means of a digital signature.
The provisions of Cenvat Credit Rules, 2004 were amended whereby a manufacturer or a service provider shall not take Cenvat credit of inputs, input services after a period of six months from the date of issue of invoice, bill or challan as the case may be. It may be noted that Cenvat credit with respect to invoices / challans / bills which were dated prior to 01.09.2014 shall also be subject to such time restriction.
(a) Withdrawal of certain exemptions under Notification No. 25/2012-ST. (i) Construction services provided to Government etc (Entry No. 12)- Clauses (a), (c) and (f) shall stand omitted. Construction, repair etc of the following services provided to the Government, a local authority, or a governmental authority are now taxable:
Dr. Sanjiv Agarwal We are at the beginning of financial year 2015-16 now and it is time to realize and accept that exemption regime of Service Tax has changed with effect from 1st April, 2015 backed by Notification No. 6/2015-ST dated 1.3.2015, amending the mega exemption Notification No. 25/2012-ST dated 20.06.2012. Most of these amendments […]
We should meet our tax obligations every year as responsible citizens. However, the law allows certain “tax-deductible” savings and we owe it to ourselves to benefit from these options, which could translate into future savings. Every citizen has a fundamental duty to pay taxes honestly and a fundamental right to avail of all the tax incentives that the government provides. Therefore, through prudent tax planning, not only can income-tax liability be reduced but a better future can also be ensured through compulsory savings in government and other schemes. Let us take a look at how one can achieve successful tax planning to enjoy optimum benefits.
The aggregators who were till now not specifically covered under the Service Tax net on strict interpretation of law and could not catch the attention of revenue authorities came under the radar of one and all in Indian regulatory world once the app based cab services received the attention after Uber fiasco.
Clause 106 of the Finance Bill, 2015 seeks to amend section 66B so as to increase the Service Tax from 12 to 14 percent. Further, Clauses 179 and 187 respectively of the Finance Bill, 2015 provide that – Section 95 of the Finance Act, 2004 levying education cess, and Section 140 of the Finance Act, 2007 levying SHE cess
It is important to understand what is meant by ‘business entity’ in Service Tax. The expression ‘business entity’ is used in exemption notification and reverse charge mechanism and as those exemption / reverse charge provisions are applicable to business entity only.
As we all know, Service Tax is levied when an activity is carried out by one person for another for a consideration i.e., two persons are involved – a service provider and a service receiver. The term ‘person’ is defined in clause 37 of section 65B of the Finance Act, 1994 which, inter alia includes ‘government’.
On a optimistic note, introduction of common Goods and Services Tax (GST) could be a game changer. The economic situation is therefore upbeat, on a rise and forward looking so far as growth and reforms are concerned. So far as goods and services are concerned, there are many items on which excise duty has been increased from 6% to 12% including mobile handsets. On certain input and raw materials, duties have been rationalized or hiked.
