Scheme formulated for Speedy grant of refund of accumulated and unutilised CENVAT credit to help in ease of doing business by unlocking the accumulated credit. Exporters of services today accumulate CENVAT credit on both input services and input goods as they are unable to set-off their input levies. Speedy grant ...Read More »
Service tax levy on services provided by a Goods Transport Agency – Clarification by the department vide circular no. 186 dated 5th Oct 2015.
The All India Transport Welfare Association (AITWA) has represented regarding the difficulties being faced by the Goods Transport Agencies (GTAs) in respect of service tax levy on the services of goods transport. Doubts has been raised by the All India Motor Transport Congress (AIMTC) regarding treatment given to various services provided by GTAs ...Read More »
Trust me, this government is confused. In that way, UPA government was better. We knew for sure that their approach to taxpayers was close to ‘harassments’. Contrarily, NPA government talks about ease of doing business, trusting the people, transparency, digitization, less human intervention, etc. But when it comes to action, ...Read More »
The Service Tax rate has been increased to 14% with effect from 1st June, 2015. Certain doubts have been raised in regard to abatement on value of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, having the facility of air-conditioning ...Read More »
The service tax rate stands increased from 12.36% to 14% with effect from 1st June, 2015. All services including phone, travelling, professional fees, ecommerce, etc. will cost more from next month. So, citizens, let us warm up to cough up more money! This apart, the service providers may have some ...Read More »
Finally the much awaited Notification is out! The service tax rate is increased to 14% with effect from 1st June 2015. This is the way it has to be done, sufficient time is given to the taxpayers to adopt new rates. Education cess and Secondary Education Cess: The above ...Read More »
Finance Bill 2015 gets President’s Assent but Service Tax rate remains at 12.36% till the date is notified.
The rate of Service Tax is being increased from 12.36% to 14%. The new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015. On 14th May 2015, the Finance Bill got the assent of ...Read More »
The Department of Revenue has released Order NO.1/2015 dated 28th February, 2015 mentioning the documentation, time limits and procedure with respect to filing of registration applications for single premises, which shall come into effect from 1-3-2015. A. General Procedure Online filing: Applicants seeking registration for single premises ...Read More »
Service Tax has to be collected and remitted to the government at regular intervals as per the applicable rules. Delayed payment of service tax attracts interest and penalty. Some of the vital points on payment of service tax are listed below. Hope this helps. Payment of Service Tax ...Read More »
The following are the important changes under Central and State Tax Laws with effect from 1st April 2015 Conveyance Allowance – Transport allowance (popularly known as conveyance allowance) granted to an employee to meet his expenditure for the purpose of commuting between the place of his residence and ...Read More »