Service Tax : Under India’s earlier service tax regime, legal services initially enjoyed complete exemption from taxation. This position chang...
Service Tax : Explore the legislative history of the Service Tax regime and gain insights into penalty provisions under Chapter V of the Finance...
Service Tax : CBEC have issued notification No. 03/2017-ST and 04/2017-ST on 12th January, 2017. We have analysed changes/ amendments made thro...
Service Tax : W.e.f. 22.01.2017, the abatement of 40% of gross amount charged for any tour operator service will be available. Therefore, w.e.f....
Service Tax : In a welcome move, a much awaited guidance, the CBSE issued Circular No 197/7/2016-Service tax dated August 12, 2016, to clarify ...
Leviability of service tax has undergone a drastic change. From the list of 119 taxable services to a negative list and mega exemption has been introduced. With such a change from positive to negative list there are lots of issue which needs clarification. If no clarification is issued by CBEC it will lead to litigation.
Every service w.e.f from 01.07.2012 can be considered as Export only if, it fulfills all conditions of Rule 6A(1) of the STR, 1994 which stipulates in relation to call centre’s/ BPO’s as under:
Where an assessee has paid to the credit of Central Government service tax in respect of a taxable service, which is not so provided by him either wholly or partially for any reason, the assessee may adjust the excess service tax so paid by him (calculated on a pro rata basis) against his service tax liability for the subsequent period, if the assessee has refunded the value of taxable service and the service tax thereon to the person from whom it was received.”
Indian Budget is one of the most imperative parts of the country’s administration because it ensures the systematic revenue for government which is used in economic growth by carrying out several activities, transactions and projects. As usual, new budget is prepared every year in order to suit the present condition of the country. Tax plays […]
CA Ashish Gupta With the introduction of Negative List Approach under Service Tax Regime, the significance of categorization of taxable services was done away and all the services were grouped under two heads i.e. Taxable & Non-Taxable. Consequently, the payment of service tax was to be made under the Head – All Taxable Services. However, […]
Which challans are to be used for payment of Excise and Service Tax? Ans. Two new challan forms GAR-7 have been introduced by PR. CCA’s office. From April 7, 2007, GAR-7 – Proforma for Central Excise Tax Payments is to be used for payment of Excise and GAR-7 – Proforma for Service Tax Payments is to be used for payment of Service Tax. These are single copy challans.
Challan Status Enquiry for Assessee- Using this feature, assessee can track online the status of their challans deposited in banks. a) CIN based view : On entering Challan Identification Number (CIN i.e. details such as BSR Code of Collecting Branch, Challan Tender Date & Challan Serial No.) and amount (optional),the assessee can view the following […]
We have hereby attempted to elucidate and analyze the major and important amendments proposed in the Direct Tax and Service Tax Laws, with their implications; and are sure that the same would be handy to you.
As you would be aware that normally the service provider is the person liable to pay Service tax, except in certain notified cases where the service receiver is made liable to pay Service tax. This was popularly termed as Reverse Charge.
In my earlier write up Applicability of Service Tax for Software Freelancer, I had mentioned that if the service is provided to non-taxable territory, Service Tax is not leviable. Receipt of payment in convertible foreign exchange is no more a pre-condition on and after 01.07.2012.
