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 »
Any Services provided by Government to Business Entity will be liable to Service Tax from 01.04.2016 onwards Finance Act (No. 20), 2015 had substituted the words ‘support services’ provided by Government or a local authority to a business entity by the words ‘any services’ under Negative List. Now all services provided by the Government or local… Read More »
Budget Highlights for the State of Gujarat 1. E-Commerce Transactions to be covered under purview of Entry Tax It has been proposed to impose Entry tax on the goods coming in the State through e-commerce as the trade of State dealers is affected adversely & also the State suffers loss of tax revenue due to… Read More »
Service tax And an independent journalist Question : Is there any Service tax , if an independent journalist renders service of Collecting and providing news ? Answer, NO As per Point No 17 of Notification No. 25/2012-Service Tax Dated 20th June, 2012 ,Central Government, exempts the following taxable services ” Services by way of collecting or providing news by… Read More »
Issue Whether the Chairman, Directors and Officers of Global Trust Bank Ltd. (a private bank before its amalgamation with the Oriental Bank of Commerce), can be said to be public servants for the purposes of their prosecution in respect of offences punishable under Prevention of Corruption Act, 1988 or not ? Held Under Clause (viii)… Read More »
Issue : What is the relevant date upto which workmen’s dues in winding up need to be calculated ? Held On the relevant date upto which workmen’s dues in winding up need to be calculated, it is to be noted that under Section 445(3) of the Companies Act, 1956, the contract of the Company (in… Read More »
SECTION 139A OF THE INCOME-TAX ACT, 1961 PERMANENT ACCOUNT NUMBER JURISDICTION OF PANs OF TRUSTS SUBMITTING ITR-7 FOR ASSESSMENT YEARS 2014-15 AND 2015-16 AS ON 28-1-2016 LETTER F.NO.DGIT(S)/DIT(S)-3/AST/CIT EXEMPTION JURIS/98/2015-16, DATED 22-2-2016 Kindly refer to the subject matter. 2. Post cadre-restructuring, it has been observed that number of PANs of Trust are lying in non-exemption… Read More »
HAL Projects Hindustan Aeronautics Limited (HAL) has planned to set up a manufacturing facility and take up Maintenance Repair & Overhaul (MRO) activities for Light Utility Helicopter (LUH) and other Rotary Wing Platforms near Tumkur, Karnataka. The foundation stone has been laid on 03rd January 2016. HAL plans to manufacture the lighter, three tonne machines… Read More »