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...
In Service Tax, exemption has been granted to ‘rice’ treating it as agricultural produce. Thus, storage, warehousing, packing, loading, unloading etc for rice would be exempt from Service Tax. Earlier only paddy was exempt. Similarly, blood banks would also be exempt treating them as part of health care services which were already exempt.
Dr. Sanjiv Agarwal March, being last month of any financial year is scary for the salaried assessees (employees) and all employers are found arguing with employees to get the proper and due income tax deducted at source (popularly called TDS). The impact is so much so that the cash budget of the employees gets disturbed […]
Dr. Sanjiv Agarwal, FCA, FCS In just 60 days of 2014, Cenvat Credit Rules, 2004 (in short, CCR), which governs the Cenvat Credit of Central Excise Duty and Service Tax, have already been amended four times so far as summarized in the following table : Amendment Notification Date Effective From First Amendment 1/2014-CX (NT) 08.01.2014 […]
Hard pressed by the compulsions of political ethics, the UPA -2 Government could not present the full fledged budget for the next fiscal 2014-15. However, an interim budget (Vote on Account) has been presented to seek approval for expenditure for next four months i.e., upto 30th June, 2014
Dr. Sanjiv Agarwal In Service Tax, ‘Governmental Authority’ assumes significance as certain specified services provided by it and received by it are exempt or not liable to levy of Service Tax. Though the term ‘governmental authority’ comprises of two words – ‘governmental’ (derived from government) and ‘authority’ we have a specific definition of governmental authority […]
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.
