Browse Category

Service Tax & CBEC

Centre mulls hike in service tax rate if GST rollout is delayed

January 11, 2017

[Source: www.thehindubusinessline.com] The Centre could consider increasing the service tax rate in the coming Budget as a fallback option in case the rollout of the Goods and Services Tax (GST) is delayed beyond April 1. “There is some thinking of an increase in the service tax rate in case the GST is not implemented from April. A higher rate will

GST·Income Tax·Service Tax & CBEC·Startup India

Equalisation Levy is going to create a huge problem for startups

[Source: www.forbesindia.com] Tax lawyer Nishith Desai believes the Equalisation Levy, also known as ‘Google Tax’, will have important repercussions for the Indian startup ecosystem As part of the continuing opposition from industry bodies to the ‘Equalisation Levy’ that came into effect earlier this year, the Internet and Mobile Association of

B2C music, e-books, cloud services from foreign portals will now attract service tax

[By Shaleen Shah (Partner), VNCA] If you download music or an e-book

GST Enrolment–Transition of existing tax payers to GST

[By Shaleen Shah (Partner), VNCA] The Government has started preparation for transition

Exporters need to prepare for GST

October 18, 2016

GST·Gujarat VAT & CST·Service Tax & CBEC

[Source: www.thehindubusinessline.com; Author: Ajay Srivastava] GST will usher in a new regulatory regime for India’s exports. For the manufactured product exporters, the most significant impact would be the increased requirement and blockage of working capital. For manufacturing a product, a firm buys locally or imports raw material and machinery. The

GST may trigger consolidation in warehousing space

October 15, 2016

GST·Gujarat VAT & CST·Service Tax & CBEC

[Source: economictimes.indiatimes.com] The goods and services tax (GST) regime could usher in consolidation in the Indian warehousing space, property consultants and analysts said. With the government pushing for an April 2017 rollout of the single tax structure, many manufacturers who had built or leased warehouses in nearly every state to

Service Tax Department cannot conduct audit under Rule 5A(2)–Delhi High Court

June 4, 2016

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] It is a general practice of Service Tax Department to conduct audit of service tax assessees for last five years by deputing their own officers of the rank of Inspectors and Superintendents. Service Tax Department also seeks voluminous details and seeks information in self-specified format/annexures

Budget 2016 enacted on 14-May – Service Tax Amendments effective from various dates

May 17, 2016

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] The Union Budget 2016 presented by Hon’ble Finance Minister, Shri Arun Jaitley was passed by both houses of the Parliament and received the Presidential assent and thus stands enacted on 14-May-2016. Service Tax Changes proposed in the Union Budget-2016 are coming into effect

Is higher service tax fuelling black money in the system?

April 26, 2016

Service Tax & CBEC

[Author: Latha Venkatesh, Executive Editor, CNBC-TV18; Source: www.moneycontrol.com] One criticism of bankers and money market dealers of the Reserve Bank’s monetary policy conduct in the past year has been the rising liquidity deficit in the interbank market. Since December 2015, banks have been borrowing Rs 1.5-2.5 lakh crore from RBI

Rate of service tax further increased with levy of Swachh Bharat Cess from 15-Nov

November 9, 2015

Service Tax & CBEC

Budget 2015 had provided for a new levy viz. Swachh Bharat Cess (SBC) on all taxable services effective from the date to be notified at a rate not exceeding 2%. Now, CBEC vide Notification No. 21/2015-ST dated 6-Nov-2015 has provided that SBC would be leviable @ 0.5% on value of

Intangibles–ambiguity between VAT & Service Tax

September 10, 2015

Gujarat VAT & CST·Service Tax & CBEC

[Source: forbesindia.com; Author: Rajeev Dimri, Leader, Indirect Tax, BMR & Associates LLP] Levy of service tax on provision of ‘services’ and value added tax (VAT) on sale of ‘goods’ is clearly demarcated and may look simple enough to the uninitiated. However, this simplistic differentiation regarding the nature of levy becomes

Budget 2015 – increase in service tax rate to 14% notified w.e.f. 1-Jun-2015

May 22, 2015

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] In our Circulars on Budget 2015 as applicable to service tax, in the First Part, we had informed you the changes made effective immediately from 1-Mar-2015 and changes effective from 1-Apr-2015. In the Second Part we informed you the Budget amendments that became effective immediately

Budget 2015 enacted on 14-May-2015 – Service Tax Amendments effective from enactment

May 16, 2015

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] Downloadable PDF The Finance Bill, 2015 has received the Presidential assent on 14-May-2015 and stands enacted. In the First Part of our Budget Circular on Service Tax, we had informed you the changes made effective immediately from 1-Mar-2015 and changes effective from 1-Apr-2015. Following amendments

Budget 2015 – Service Tax Amendments effective from 1-Apr-2015

April 1, 2015

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] Downloadable PDF Several amendments pertaining to Service Tax were proposed in the Finance Bill, 2015 presented by Hon’ble Finance Minister Shri Arun Jaitley. It may be noted that changes being made in the Budget are coming into effect on various dates. Few changes were made

1 2 3 … 6 Next

GoUp

Service Tax & CBEC

Centre mulls hike in service tax rate if GST rollout is delayed

Equalisation Levy is going to create a huge problem for startups

B2C music, e-books, cloud services from foreign portals will now attract service tax

GST Enrolment–Transition of existing tax payers to GST

Exporters need to prepare for GST

GST may trigger consolidation in warehousing space

Service Tax Department cannot conduct audit under Rule 5A(2)–Delhi High Court

Budget 2016 enacted on 14-May – Service Tax Amendments effective from various dates

Is higher service tax fuelling black money in the system?

Rate of service tax further increased with levy of Swachh Bharat Cess from 15-Nov

Intangibles–ambiguity between VAT & Service Tax

Budget 2015 – increase in service tax rate to 14% notified w.e.f. 1-Jun-2015

Budget 2015 enacted on 14-May-2015 – Service Tax Amendments effective from enactment

Budget 2015 – Service Tax Amendments effective from 1-Apr-2015

Recent Posts

Categories