Govt amends Point of Taxation Rules, 2011 so as to insert clarificatory Explanations
Seeks to amend Point of Taxation Rules, 2011 so as to insert clarificatory Explanations Notification No 10/2016-Service Tax dt. 01-03-2016
Category Archives: Service Tax
New Entries for Granting Exemptions from Service tax on Specified Services
Seeks to amend notification No. 25/2012-Service Tax, dated 20th June 2012, so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services Notification 09/2016-Service Tax dt. 01-03-2016
Construction of Civil Structure will attract higher Service Tax as Govt Amended notification No. 26/2012
Seeks to amend notification No. 26/2012-Service Tax, dated 20th June 2012, so as to make necessary amendments in the specified entries prescribing taxable portion and the conditions for availing the exemption therein [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF… Read More »
Krishi Kalyan Cess @ 0.5% on all taxable servies ; Budget 2016
Additional Resource Mobilization for agriculture, rural economy and clean environment Krishi Kalyan Cess @ 0.5% on all taxable services for financing initiatives relating to improvement of agriculture and welfare of farmers While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that uniform application of Dividend Distribution… Read More »
Service Tax & Cess for the purpose of Rebate of Service Tax to include Swachh Bharat Cess
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 unit located in SEZ or Developer of SEZ
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
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 »
Valuation method for flats handed over to land owners by builders/ developers
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
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 »
No Service tax on News service by an independent journalist
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 »