Custom Duty : Should Cess and Surcharge Be Permanent? Explore the history and purpose of Cess and its impact on taxes and duties....
Income Tax : Clarification regarding treatment of cess and surcharge Section 40 of the Act specifies the amounts which shall not be deducted in...
Goods and Services Tax : As GST sought to consolidate multiple taxes into one it was very essential to have transitional provisions to ensure that the tran...
Income Tax : Interesting Income Tax Issues: Deduction of Health and Education Cess from Taxable Income : AY 2020-21 Background Sec. 40(a)(ii) ...
Goods and Services Tax : Whether the Respondent is entitled to carry forward the accumulated unutilized amount of EC, SHEC and KKC to be utilized against t...
Service Tax : CESTAT Kolkata held that notification no. 41/2012-ST grants refund of service tax paid on the taxable services used for export of ...
Service Tax : CESTAT set aside the impugned order pertaining to the rejection of refund of unutilized cenvat credit of Education Cess, SHEC and ...
Service Tax : Explore the CESTAT Chandigarh ruling in Schlumberger Asia Services Ltd. vs. Commissioner of CE & ST on the timeliness of a refund ...
Income Tax : Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or ...
Goods and Services Tax : Assistant Commissioner of CGST and Central Excise Vs Sutherland Global Services Private Limited (Madras High Court) Whether the As...
Service Tax : Central Government, hereby exempts taxable services with respect to which the invoice for the service has been issued on or befor...
Service Tax : (7E) The person liable for paying the service tax under sub-rule (7), (7A), (7B) or (7C) of rule 6, shall have the option to pay s...
Service Tax : the SEZ Unit or the Developer shall be entitled to refund of- (i) the service tax paid on the specified services on which ab-ini...
Service Tax : The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) by notificati...
Service Tax : Provided that Krishi Kalyan Cess shall be leviable only on that percentage of taxable value which is specified in column (3) for t...
Prevailing Service Tax Rate: @14% Cenvat Available. Swachchh Bharat Cess: @ 0.5% [w.e.f. 15/11/2015]- Cenvat Not Available. Krishi Kalyan Cess: @ 0.5% [w.e.f. 01/06/2016] New Levy- Cenvat Available
The Union Budget has introduced two new cesses in the name and style of Infrastructure Cess and Krishi Kalyan Cess, former in the nature of excise duty and later as Service Tax. Clean Energy Cess has been renamed as Clean Environment Cess while enhancing the cess by 100 percent. These cesses, in nutshell are as follows:
Though there is no major change in basic tax rates in direct and indirect taxes, the Budget 2016-17 talks of following three cesses- Clean Environment Cess (renamed from clean energy cess), Infrastructure Cess and Krishi Kalyan Cess.
Unlike Swachh Bhara Cess imposed w.e.f. June 15, 2015, which is not Cenvatable neither in the hands of service providers nor manufacturers, in terms of TRU F.No. 334/8/2016-TRU dated February 29, 2016 [Para 3.1], it is provided that Cenvat credit of Krishi Kalyan Cesspaid on input services shall be allowed to be used for payment of the proposed Cess on the service provided by a service provider.
In the definition of the term Service, sub-clause (ii)(a) of Explanation 2 is proposed to be amended to clarify that activity carried out by a lottery distributor or selling agents of the State Government under the provisions of the Lotteries (Regulation) Act, 1998, is leviable to service tax.
There was certain confusion regarding the taxability of various education programmes conducted by Indian Institute of Management as to whether such programmes qualify as a part of a curriculum for obtaining a qualification recognised by any law for the time being in force.
The Hon’ble Finance Minister Shri. Arun Jaitley announced a host of changes in the Indirect tax structure in the Union Budget 2016-17 on February 29, 2016, that are expected to impact the Trade and Industry. Under Service tax, on one hand, the effective rate of Service tax would go up to 15% w.e.f June 1, 2016
Article Covers the Following Changes made by Finance Bill 2016 in Service Tax Provisions Related to:- Service Tax Rate, Chapter V Of Finance Act 1994 ( Service Tax Provisions), Service Tax Rules 1994, Exempted List Of Services, Point Of Taxation Rules 2011, Abatement Provisions, Reverse Charge Provision, Interest Rate For Delayed Payment Of Service Tax, Clarification Brought In ‘Information Technology Software’ W.R.T Levy Of Excise Duty Or Service Tax
Please find attached 10th Edition of our e-book (999 pages) on Service Tax. The e-book contains Budget 2016 changes alongwith amended legal provisions / recent judicial precedence.
INDIRECT TAXES – SERVICE TAX: The amendments proposed by the Finance Minister with respect to Service tax are discussed herein below. 1. Roll out of Goods and Services Tax (‘GST’): Like the last year, in his Speech this year, the Finance Minister has given reaffirmed commitment to ensure the passage of the Constitutional amendments to […]
