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 ...
Service Tax : As the name suggests, ‘bundled services’ are the combination of two or more services. i.e. combination of provision of various...
The new charging section, section 66B, enables taxation of only such services as are provided in taxable territory. Thus services that are provided in a non-taxable territory are not chargeable to service tax.
SERVICE ? ‘Service’ has been defined in clause (44) of the new section 65B and means – any activity for consideration carried out by a person for another and includes a declared service does not include – any activity that constitutes only a transfer in title of (i) goods or (ii) immovable property by way […]
Basically what the provisions of service tax contained in finance act 1994 lack was the definition of service. What the service actually is? Answer to this question has also became important because now all the services are being taxable except those which has been provided in negative list or are being specifically exempted by way […]
Software is not exempted from Service Tax because it does not appear in the List of Negative Services. Service Tax shall be levied or not is decided on case to case basis depending upon the location of service recipients. If the service recipient is located outside India, Service Tax is not leviable.
The scheme of partial reverse charge has been introduced for three services where the service provider is either an individual or HUF or partnership Firm or LLP or association of person and a recipient is corporate.
Input service is defined in Rule 2(l) of Cenvat Credit Rules, 2004 as service used by the manufacturer or service provider. Wherever the word “input service’ appears in Cenvat Credit Rules, it would connote the meaning as input service used. Being so, Service Tax on advances, inasmuch as it relates to a service provided and not used by the manufacturer or service provider , availment of such credit poses problem and is prone to litigation.
It has always been a matter of discussion regarding Cenvat Credit availability on purchase/hiring of Motor Vehicles. It was provided that Cenvat Credit w.r.t. certain specified motor vehicles shall be made available to only certain specified service providers.
Tyre retreading is a process where the TREAD (the portion of the tyre which meets the surface of road) of an old tyre is replaced/ repaired using a vulcanizing solution to give fresh lease of life to the tyre. When a tyre is manufactured it is estimated that approximately 75%-80% of the manufacturing cost is incurred in tyre body and remaining 20%-25% in the TREAD, and by retreading the tyre is reusable at a cost which is less than 50% of the price of a new tyre.
Now a days, real estate industry is in boom phase and flat/apartment culture is picking pace due to economy, comfort, security and liquidity. Therefore, construction of apartment/flats is hot most segment and construction industry is adopting every new relevant and viable technology.
As we are witnessing the major changes in the Service Tax Rules/Acts recently. Under Reverse Charge Mechanism the service recipient is liable to pay the service tax instead of service provider. However in certain cases both service provider and service recipient has been made liable to pay service tax. The service receiver has to register himself under service tax and service receiver cannot claim general exemption limit of 10 Lakh rupees.
