Goods and Services Tax : Introduction Coronavirus (COVID-19), a virus that grew stealthily from the end of 2019 has become one of the deadliest viruses tha...
Goods and Services Tax : Rule 36(4), i.e. the ITC matching and claim based on vendor GSTR filings is one such insertion into the law which is creating more...
Goods and Services Tax : Though GST department claims only a miniscule percentage of exporters have been selected for risky exporter verification, it appea...
Goods and Services Tax : Government should consider providing the benefit of zero tax even for the dies and moulds manufactured for further use in manufact...
Goods and Services Tax : One of the GST objectives is to ensure the seamless flow of the credit & avoiding the cascading effect. The success of ITC is ...
Works contract, as understood in trade, means a composite contract involving both supply of goods and provision of service. As per Article 366(29A) of the Constitution of India, transfer of property involved in goods in the execution of works contracts are considered as deemed sale. The service tax levy on “works contract” was specifically introduced way back in 01.06.2007.
MODVAT scheme came into existence in 1986 and over a period of 28 years lot of amendments took place, even got renamed as CENVAT, which became effective from 01.04.2000 late the cross availment of credit with service tax and central excise was introduced with effective from 10.09.2004.
An employee is expected to intimate the company with a formal resignation well in advance and shall serve a period of at least two to three months before quitting the job and shall continue to work in the same role till completion of such period and this period is called as ‘notice period’.
Whether the above activity of providing motor cars to the customers under different business models attract service tax or VAT is a matter of debate since long but in order to understand the governing provisions of the statute which determines its taxability we shall understand the relevant provisions in the Service tax law and the Sales tax law which governs the taxability of above services.
Litigation under service tax starts by issuance a “Show Cause Notice” under the provision of section 73 of the Finance Act, 1994, which could be a resultant of a Audit, ST-3 scrutiny, investigation or pending issues of previous period. This notice would be adjudicated by the Central Excise and Service Tax officer by following the […]
Of late there have been confusions as to jurisdiction before whom rebate cases pertaining to service tax should be filed when an order is passed by Commissioner of Central Excise (Appeals). In terms of first proviso to section 35B(1) of Central Excise Act, which states that no appeal shall lie before the Appellate Tribunal and […]
In the Indirect Tax Bracket net, there would be plethora of case laws passed by various Tribunals, High Courts and Supreme Court. Further, the CBEC also clarifies the issues to the Industry by way of Circular, Trade Instructions. There may be a scenario, where there would be contradictory view between the Legal Decisions and Departmental […]
Service tax in India was bought into existence in the year 1994. Initially, only 3 services were bought into the net, with effect from 1st July 2012 the new system of taxation of services known as Negative list came into existence under this scheme apart from those services listed in the negative list are taxable.
Though the law and procedures under both service tax and central excise are made user friendly, assessee are still finding difficulties in interaction with the department officials. This may be because of lack of awareness of related law or the psychological image about the department. Sometime because of the fear in the minds of assessee about the probable disputes
1. HISTORY OF VARIOUS OTHER SCHEMES Under Direct & Indirect Taxes The problem of black money corroding the economy of the country is not a new or recent problem. It has been there almost since the Second World War and it has been continuously engaging the attention of the Government. The Government has adopted various […]
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