Services performed in India for a service recipient located abroad are export of services
Posted Date : 02-Apr-2014 , 04:05:16 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Services performed in India for a service recipient located abroad are export of services We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi in the case of Gap International Sourcing (India) Pvt. Ltd. Vs. Commissioner of Servi...
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Category : Service Tax |
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Chit fund business constitutes ‘transaction in money’ and not liable to service tax
Posted Date : 12-Mar-2014 , 06:33:37 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Chit fund business constitutes ‘transaction in money’ and not liable to service tax Recently, the Hon’ble Supreme Court of India, dismissed the SLP filed by the Union of India against the judgment of the Hon’ble Delhi High Court in the case of U...
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Category : Service Tax |
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Service Tax on Partner's Remuneration
Posted Date : 28-Feb-2014 , 05:55:01 pm | Posted By
Hem Chhajed
Introduction
The issue is covered in this article is whether the remuneration received by the partners from the partnership firms is subject to service tax.
As per section 4 of the Indian Partnership Act, 1932 ‘partnerships’ is the relationship between persons who have ...
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Category : Service Tax |
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Amendment in distribution of Cenvat Credit by ISD from 1st April, 2014
Posted Date : 26-Feb-2014 , 07:16:08 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Amendment in distribution of Cenvat Credit by ISD from 1st April, 2014
The CBEC vide Notification No. 05/2014-Central Excise (N.T.) dated February 24, 2014 (“the Notification”) has amended Rule 7 of the Cenvat Credit Rules, 2004 (“the Credit Rules&rd...
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Category : Service Tax |
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Highlights of Interim Union Budget 2014-15
Posted Date : 18-Feb-2014 , 03:20:10 am | Posted By
CA Bimal Jain
Highlights of Interim Union Budget 2014-15
Dear Professional Colleague,
The Hon’ble Finance Minister P. Chidambaram presented the Interim Budget for the fiscal year 2014-15 on Monday, February 17, 2014 to cover expenditure until the Government's term ends in May, 2014. While presenting the I...
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Category : Service Tax |
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Service recipient is required to reimburse Service Tax paid by the Service provider
Posted Date : 19-Jan-2014 , 04:28:33 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Service recipient is required to reimburse Service Tax paid by the Service provider
We are sharing with you an important judgement of the Hon’ble Allahabad High Court in the case of M/s Bhagwati Security Services (Regd.) Versus Union of Indi...
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Category : Service Tax |
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No TDS on Service Tax if shown separately
Posted Date : 17-Jan-2014 , 01:26:12 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
No TDS on Service Tax if shown separately
Pursuant to an important judgement of the Hon’ble Rajasthan High Court, in the case of Commissioner of Income Tax (TDS), Jaipur Vs. M/s. Rajasthan Urban Infrastructure [2013 (8) TMI 12 – RAJASTHAN H...
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Category : Service Tax |
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Basic Concepts of Service Tax
Posted Date : 05-Jan-2014 , 05:13:40 pm | Posted By
Rohit
BASIC CONCEPTS OF SERVICE TAX
Service tax in India
The Tax Reforms Committee headed by Dr. Raja J. Chelliah recommended imposition of “Service Tax” on selected services.
On these recommendations, Dr. Manmohan Singh, the then Union Finance Minister, in his Budget speech...
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Category : Service Tax |
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Educational Services
Posted Date : 25-Sep-2013 , 10:20:22 am | Posted By
Pravi
As, Education being one of the priority sectors of the Government of India has been kept outside the purview of service tax net by including the same in the negative list of services. The main objective behind the same is to reduce the cost of education in India. Thus, in order to re...
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Category : Service Tax |
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Step-wise Guide for Availing Service Tax Amnesty Scheme
Posted Date : 03-Aug-2013 , 07:11:14 pm | Posted By
Vinay Sharma
Procedure for availing the VCES scheme
♦
Step 1
If the declarant is not registered, then he is first required to get himself registered and then apply for this scheme.
♦
Step 2
...
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Category : Service Tax |
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List of Central Excise Forms
Posted Date : 11-Jun-2013 , 05:33:17 pm | Posted By
Gaurav Dhamija
Form of application
Settlement Commission - Form of application for settlement of a case under section 32E
GAR 7 Challan (Front ||Reverse)
G.A.R.-7 Proforma for Central Excise Tax Payments (Receipt & Payment Rules 26)
FORM A-1
New Central Exc...
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Category : Service Tax |
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Brief Note on Service Tax on Work Contract Service
Posted Date : 03-Jun-2013 , 12:43:40 pm | Posted By
Gaurav Dhamija
Brief Note on Service Tax on Work Contract Service
1. After the Finance Act 2012 enacted, Clause 54 of the newly introduced section 65B provides definition to works contract, which means, “a contract wherein transfer of property in goods involved in the execution of such contract is le...
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Category : Service Tax |
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1 | Hits : 2362 |
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FAQ - Service Tax Voluntary Compliance Encouragement Scheme, 2013
Posted Date : 30-May-2013 , 12:46:14 pm | Posted By
Gaurav Dhamija
Q. What is the Date of implementation of Service Tax Voluntary Compliance Encouragement Scheme, 2013 ?
After receiving the assent from President of India to the Finance Bill 2013-14.
Q. Scheme to whom it is applicable?
The person who has not paid the ...
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Category : Service Tax |
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0 | Hits : 1675 |
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Service Tax Reverse Charge Mechanism – Chart, Accounting Entries & issues
Posted Date : 29-May-2013 , 04:04:08 pm | Posted By
Gaurav Dhamija
Section 68 of Finance Act, 1994
• Sec 68 (2) provides legal backing for the levying of Service Tax under reverse charge mechanism. Sec 68 (2) is worded as follows:-
- “In respect of such taxable services as may be notified by the Central Government in the Official Gazette, ...
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Category : Service Tax |
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A Handy Reference on Reverse Charge Mechanism
Posted Date : 13-May-2013 , 10:01:19 pm | Posted By
CA Pardeep Chanana
A Handy Referencer on Reverse Charge Mechanism
Relevant Notifications:- Notification no. 30/2012 dated 26.06.2012 later updated by notification no. 45/2012 dated 07.08.2012 w.e.f. 01/07/2012
Dual System of Service Tax Payment
A.&nb...
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Category : Service Tax |
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No Service Tax Leviable on the issuance of Draft Invoices
Posted Date : 12-May-2013 , 10:35:14 pm | Posted By
Vishal Jain
With the Introduction of Point of Taxation Rules (herein referred as POT Rules), 2011, the government has primarily shifted the policy of collection of service tax on the realization of value of taxable services to the point when the service is deemed to have been provided. The Rule 3 of&n...
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Category : Service Tax |
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ST- Waiver of Interest and Penalty Under Amnesty Scheme
Posted Date : 11-May-2013 , 04:41:15 pm | Posted By
Vishal Jain
Service tax has always been regarded as a tax of the future and is emerging as one of the major source of revenue for the Government. At the same time, the service tax law has been regarded as most complicated law and generated huge litigation. Due to its complexity, there had been lot...
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Category : Service Tax |
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Service Tax on Restaurants(Complete Guide)
Posted Date : 19-Mar-2013 , 03:21:38 pm | Posted By
Harshit Gupta
Service Tax Applicability on Restaurants, Hotels
Applicabilty before 1st April 2013
All kind of restaurant whether big ,small should pay service taxonly if :
-Services Provided in relation to serving of food restaurant or beverages by a restaurant, eating joint or a mess having the faci...
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Category : Service Tax |
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0 | Hits : 1897 |
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Assortment of Amendments in Penal Provisions of Service Tax
Posted Date : 19-Mar-2013 , 01:14:40 am | Posted By
Mayank Singla
Beware if you are the one illicitly holding the government revenue!!! Government is all set to severely punish the people contravening the provisions of Finance Act, particularly, when one collect theservice tax and fails to deposit the same to government exchequer. Where the amount involved ...
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Category : Service Tax |
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Service Tax-Real Estate(Complete Scenario)
Posted Date : 12-Mar-2013 , 04:05:19 pm | Posted By
Harshit Gupta
Service Tax Applicability on Real Estates(Developers and Contractors)
Service Tax:
All services are made taxable execpt:
1. Negative List Based Services
2. Mega Notification Based Service
3. &...
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Category : Service Tax |
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Budget 2013-14 Analysis of Service Tax Proposals
Posted Date : 01-Mar-2013 , 10:20:13 am | Posted By
Nikhil Mohan Jhanwar
Budget 2013-14- An Analysis of Service Tax Proposals
By CA. Nikhil M. Jhanwar
Budget 2013-14 has been introduced today by Mr. P. Chidambaram, Finance Minister. Budget has come at a time where it has been almost one year in introduction of negative list bas...
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Category : Service Tax |
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A BIRD'S EYE VIEW ON CHANGES MADE IN SERVICE TAX LAW BY THE FINANCE BILL, 2013
Posted Date : 28-Feb-2013 , 10:19:34 pm | Posted By
Vinay Sharma
A BIRD'S EYE VIEW ON CHANGES MADE IN SERVICE TAX LAW BY THE FINANCE BILL, 2013
&nbs...
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Category : Service Tax |
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Manpower Supply Service & Reverse Charge
Posted Date : 13-Jan-2013 , 09:18:30 pm | Posted By
Puneet Goyal
ANALYSIS OF REVERSE CHARGE MECHANISM IN RESPECT OF MANPOWER SUPPLY SERVICES OR SECURITY SERVICES
(Before proceeding further please read the disclaimer at the bottom of this write up)
Now after introduction of negative list approach, in respect of above services, serv...
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Category : Service Tax |
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Point of Taxation Rules,2011 with recent amendements
Posted Date : 13-Jan-2013 , 04:24:10 pm | Posted By
CA Vinod Kumar
BACKGROUND OF RULES
I will start my article with the wordings of Finance Minister while presenting the Budget proposal for the financial year 2011-12, the Finance minister said that in order to “achieve a closer fit between the present service tax regime and its GST successor...
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Category : Service Tax |
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0 | Hits : 1235 |
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Service tax on Supply of food at Restaurants
Posted Date : 18-Dec-2012 , 05:49:43 pm | Posted By
Sourabh Jain
Service tax on Supply of food at Restaurants
It is said that some things which seem to be very authentic may not be always correct. This is same which is happening with issue of Service tax on supply of food in restaurants. Internet is equal for both whether you are correct or fact...
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Category : Service Tax |
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1 | Hits : 858 |
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Service tax audit
Posted Date : 08-Dec-2012 , 10:56:09 am | Posted By
ASP
Director General of Audit, New Delhi has prepared Service Tax Audit Manual, 2010. As per the guidelines, tax payers whose annual service tax payment (including cash and CENVAT) was Rs.3 crore or more in the preceding financial year may be subjected to mandat...
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Category : Service Tax |
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SERVICE TAX ACCOUNTING CODES FOR NEW SERVICES
Posted Date : 08-Dec-2012 , 10:44:25 am | Posted By
ASP
Accounting Codes For The Taxable Services Introduced Vide The Finance Act, 2011(8 of 2011)
Heads of Account under the Major Head “0044-Service Tax” in respect of the new taxable services have been allo...
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Category : Service Tax |
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PROCEDURE FOR E-PAYMENT OF SERVICE TAX
Posted Date : 08-Dec-2012 , 10:43:33 am | Posted By
ASP
PROCEDURE FOR E-PAYMENT
1. To pay Excise Duty and Service Tax online, the Assessee has to enter the 15 digit Assessee Code allotted by the jurisdictional Commissionerate.
2. There will be an online check on the va...
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Category : Service Tax |
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Abatement in Service Tax as on 01-07-2012
Posted Date : 20-Nov-2012 , 12:21:54 pm | Posted By
CA Ramesh K Chhajer
Abatement has been provided in Notification no. 26/2012 dated 20.6.2012effective from 1.7.2012
1. Financial leasing services- 10% taxable
Financial leasing includes hire charges but excludes operating lease
2. Transport of pas...
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Category : Service Tax |
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0 | Hits : 24576 |
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Cenvat For Automobile Dealer
Posted Date : 12-Oct-2012 , 03:27:33 pm | Posted By
Ankit Bhutoria
SERVICE TAX
FOR AUTOMOBILE DEALERS
Brief Introduction
Generally Automobile Dealers are engaged in three main activities i.e. Selling of Vehicles, Selling of Spare parts of vehicle, and working as an Authorized Service Station on behalf of the principa...
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Category : Service Tax |
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1 | Hits : 891 |
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