Custom Duty : The Union Budget 2025 introduces changes in Customs duties, excise, and tax rates, focusing on tariff rationalization, support for...
Goods and Services Tax : Directorate of Legal Affairs, Central Board of Indirect Taxes and Customs is entrusted with defending all indirect taxes matters (...
Income Tax : Virtual digital assets (VDA) refers to any digital representation of value that can be digitally traded, transferred, or used for ...
Company Law : The formation and regulation of Producer Company is governed under the provisions of Sections 581A to 581ZL of Companies Act, 1956...
Income Tax : CBDT has vide notification No. 21/2017 released ITR forms for Assessment Year 2017-18 / Financial Year 2016-17. The number of ITR ...
Excise Duty : A special court imposed five years’ rigorous imprisonment and heavy fines after finding assets far beyond known income. The ruli...
Excise Duty : However, the whole process of DPC is getting delayed due to deficiency of ACR folders of officers. In this regard, attention is dr...
Service Tax : Finance Minister has clarified that Rice is not an agricultural produce, Central Warehousing Corporation (CWC) has clarified to it...
Service Tax : Existing registrants: Those assessees, who had registered with the department after 01.07.2012 under the 'Other than in the Negati...
Service Tax : Require Document for Audit 1. Annexure I Questionnaire. 2. Annexure II List of addtional documents. 3. Annexure III FDSS. 4. Annex...
Excise Duty : An order from the Central Board of Indirect Taxes and Customs (CBIC) assigns appeals filed on or after July 1, 2017, under Central...
Excise Duty : CBIC assigns Central Excise Officers to handle appeals filed on or after July 1, 2017, related to pre-GST Central Excise and Servi...
Income Tax : Office Order No. 125/2024: Immediate transfers and postings of Principal Commissioners and Commissioners in Customs and Indirect T...
Custom Duty : Read Notification No. 02/2023 from CESTAT, New Delhi, introducing virtual hearings. Learn about the procedure, technical requireme...
Service Tax : Appointment of Common Adjudicating Authority in respect of SCNs issued to M/s Shell India Markets Pvt. Ltd. vide Order No. 08/202...
Notification No. 26/2012- Service Tax – 25% Abatement for Construction of Complex; Abatement for 11 other services notified. Govt hereby exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the amount charged by such service provider for providing the said taxable service, unless specified otherwise, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table, namely;-
Notification No. 25/2012-Service Tax Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the following taxable services from the whole of the service tax leviable thereon under section 66B of the said Act, namely:- Services provided to the United Nations or a specified international organization; Health care services by a clinical establishment, an authorised medical practitioner or para-medics; Services by a veterinary clinic in relation to health care of animals or birds; Services by an entity registered under section 12AA of the Income tax Act, 1961 (43 of 1961) by way of charitable activities; Services by a person by way of-
Circular No. 159/10/2012-ST A doubt has been raised whether service tax is leviable on the audit fees collected by the CAG for conducting directly, audit of corporations. Reportedly some field formations are inclined to take a view that such ‘audit fee’ collected by the CAG is leviable to service tax under the authority of the inclusive portion of the definition of practicing chartered accountant read with the relevant definition of the taxable service [Section 65(83) read with section 65(105)(s) of Finance Act, 1994].
Upto 30.06.2012, the charging Section for the purpose of Service tax is Section 66 of the Finance Act, 1994 according to which service tax is levied at the rate of 12% on all taxable services. With effect from 01.07.0212, Section 66 will no longer be in force and a new charging section 66B will take its place. Section 68 stipulates that service tax is payable by the service providers at the rate specified under Section 66 in such manner as may be prescribed. This Section is continued in the Finance Act, 1994 even from 01.07.2012. Government has now realised its mistake and come with a order specifying the charging section for service tax w.e.f 01.07.2012 to 66B.
Central Govt exempts vide notification No. 14/2012-ST, Dated 17-3-2012 Taxable service involving import of technology, from so much of service tax, as is equivalent to the extent of amount of cess payable on the said transfer of technology under the provisions of section 3 of the Research and Development Cess Act, 1986 w.e.f. 01.07.2012.
Notification No. 24/2012 – Service Tax, dated 6-6-2012 Determination of value of service portion in the execution of a works contract.- Subject to the provisions of section 67, the value of service portion in the execution of a works contract , referred to in clause (h) of section 66E of the Act, shall be determined in the following manner, namely:- (i) Value of service portion in the execution of a works contract shall be equivalent to the gross amount charged for the works contract less the value of property in goods transferred in the execution of the said works contract.
Notification No. 23/2012-Service Tax Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 66A of the said Act shall not apply, except as respects things done or omitted to be done before the said section 66A so ceases to apply.
Notification No. 22/2012-Service Tax Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 66 of the said Act shall not apply, except as respects things done or omitted to be done before the said section 66 so ceases to apply.
Notification No. 21/2012-Service Tax In exercise of the powers conferred by the sub-section (3) of section 65A of the Finance Act, 1994(32 of 1994), the Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 65A of the said Act shall not apply, except as respects things done or omitted to be done before the said section 65A so ceases to apply.
Notification No. 20/2012-Service Tax, In exercise of the powers conferred by the proviso to section 65 of the Finance Act, 1994(32 of 1994), the Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 65 of the said Act shall not apply, except as respects things done or omitted to be done before the said section 65 so ceases to apply.
