Service Tax on `Legal Consultancy Service’

[By Shaleen Shah (Partner), VNCA]
This article appeared in the Feb-2012 edition of the Sales Tax Journal published by The Gujarat Sales Tax Bar Association
After amendments w.e.f. 01-05-2011, even Individual legal consultants are covered in respect to certain services - Legal Consultancy Service is applicable to any person providing legal consultancy - STPs issuing the VAT [...]

Indirect tax reforms not to wait for GST

Without waiting any more for introduction of the much-debated Goods and Services Tax (GST), the Union finance ministry has decided to go ahead with indirect tax reforms, particularly those related to services. The ministry is planning to time the rollout of Place of Supply (PoS) rules with the negative list for services, to be put [...]

Service Tax Return - Extension of due date

F. No. 137/99/2011 - Service Tax
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs
***
New Delhi dated the 20th October 2011

ORDER NO.1 /2011 - Service Tax

In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read with notification No. 48/2011-Service Tax dated 19th October 2011, Central Board of [...]

Clarification regarding Short Term Accommodation Service and Restaurant Service

Clarification issued by CBEC regarding Short Term Accommodation Service and Restaurant Service vide Circular No. 139/8/2011-TRU dtd. 10-May-2011.
Since the levy of service tax on the aforesaid two new services came into force with effect from 1-May-2011, a number of queries have been raised by the potential tax payers. These are addressed as follows:
Short Term Accommodation [...]

Budget 2011 (Finance Act, 2011) – Complete roundup of service tax provisions with effective date

[By Shaleen Shah (Partner), VNCA]
1) AMENDMENTS EFFECTIVE FROM 1-MAR-2011
a) Exemption is provided to the following services:
i) Exemption is being provided to services provided by an organizer of business exhibitions in relation to business exhibitions held outside India.
ii) An abatement of 25% from the taxable value is being provided for the purpose of levy of service [...]

Controversy – Service Tax on Copyrights

[By Shaleen Shah (Partner), VNCA]
The Finance Act, 2010 has amongst other amendments, proposed following new service on Copyrights w.e.f. 1-Jul-2010:
The existing taxable service ‘Intellectual Property Right (IPR)’ excludes copyright from its scope. The service of transferring temporarily or permitting the use or enjoyment of Copyrights on (a) cinematographic films and (b) sound recording are now [...]

Service Tax Amendments – The Finance Act, 2010

[By Shaleen Shah (Partner), VNCA]

DOWNLOAD PDF FILE

Budget-2010 proposed several amendments under Service Tax. The Finance Bill, 2010 presented on 26-Feb-2010 was enacted & received the assent of the President on 8-May-2010. Post Budget, several notifications were issued to effect certain budget proposals. In a further Notification No. 24/2010-ST dtd. 22-Jun-2010, the Government has notified 1-Jul-2010 [...]

Finance Commission Report on GST flawless

Finance Commission Report on GST flawless

Goods and service tax in Gujarat not before April 2011

Goods and service tax (GST) in Gujarat not before April 2011

Highlights of Foreign Trade Policy 2009-14

Higher Support for Market and Product Diversification
1. Incentive schemes under Chapter 3 have been expanded by way of addition of new products and markets.
2. 26 new markets have been added under Focus Market Scheme (FMS).
3. Incentive available under FMS raised from 2.5% to 3%.
4. Incentive available under Focus Product Scheme (FPS) raised from 1.25% to [...]