Amendment in Madhya Pradesh Value Added Tax Act, 2002 The following amendments will come into force from the date of its publication in the Madhya Pradesh Gazette. Levy of Additional Tax:A new Section 9AA has been inserted to levy additional tax at rate as may be notified by the State Government. It will be based on weight,… Read More »
Amendment, omission and insertion of rules in Odisha Value Added Tax Rules 2015 Following changes have been made in Odisha Value Added Tax Rules, 2015: Rules 6, 9, 27, 27A, 30, 33, 40, 41, 45, 59, 65, 86 have been amended; Rule 8, 28, 32, 48 have been omitted; Rules 1A, 49A, 49B, 59A, 66A… Read More »
Composition Scheme for works contractor effecting sales by way of transfer of property in goods Odisha Government vide Notification No. 1457-FIN-CT1-TAX-0035-2015 dated 16th January, 2016 has provided a composition scheme for a dealer who has effected sales by of transfer of property in goods under a works contract. Subject to the conditions specified in the notification, such dealer… Read More »
Road Permits (RP) to be mandatorily issued online w.e.f. 26.01.2016 With a view to further expand the e-Services for better service delivery, Nagaland Government has notified that all Road Permits (RP) shall be mandatorily issued online w.e.f. 26th January, 2016. The Road Permit shall be issued for the purpose of importing goods into the state as… Read More »
All Industry Rates of Duty Drawback notified w.e.f. 11.02.2016 CBEC vide Notification No. 22/2016-Cus., (N.T.), Dated: February 8, 2016 has notified the All Industry Rates of Duty Drawback effective from 11.02.2016 subject to the notes and conditions specified therein. The detailed rates and explanations can be obtained from www.cbec.gov.in. [Notification No. 22/2016-Cus., (N.T.), Dated: February 8, 2016; Circular… Read More »
Amendments in CENVAT Credit Rules The CENVAT Credit Rules have been amended vide Notification Nos. 01/2016- CX (N.T) and 02/2016- CX (N.T), both Dated: February 03, 2016 as follows: For the purpose of definition of Input Services,sales promotion would include services by way of sale of dutiable goods on commission basis. The condition of allowing only 85% of… Read More »
Service Tax & Cess for the purpose of Rebate of Service Tax to include Swachh Bharat Cess CBEC vide Notification No. 03/2016-Service Tax, Dated: February 03, 2016 has amended the meaning of “service tax and cess” so as to include Swachh Bharat Cess therein for the purpose of Rebate of Service Tax paid for providing service exported… Read More »
Refund of Swachh Bharat Cess to a unit located in a SEZ or Developer of SEZ CBEC vide Notification No. 02/2016-Service Tax, Dated: February 03, 2016 has provided that the SEZ Unit or the Developer will be entitled to refund of the Swachh Bharat Cess paid on the specified services on which ab-initio exemption is admissible but… Read More »
Exports – Rebate by way of refund of Service Tax – Notification No. 41/2012 –ST amended CBEC vide Notification No. 01/2016-Service Tax, Dated: February 03, 2016 has amended Notification No. 41/2012 – ST, Dated: June 29, 2012 so as to allow refund of service tax on services used beyond the factory or any other place or premises of production… Read More »
Regarding valuation of flats for levy of Service Tax Valuation method for flats handed over to land owners by builders/ developers as recommended by Education Guide 2012 (Para 6.2.1) and the CBEC Circular No. 151/2/2012-ST dated 10.2.2012 are divergent in nature. According to the CBEC Education Guide on Taxation of Services, 2012 value of construction service provided… Read More »