HC directive over plea for service tax exemption
Posted Date : 03-Oct-2015 , 08:16:19 am | Posted By CASANSAAR
The Madras High Court Bench here has directed the Union Finance Ministry to consider a representation made by a lawyer based here to exempt all kinds of private educational coaching institutes and life insurance companies from payment of service tax.
The court passed the order on a public inter...
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Supreme Court stays levy of service tax on lawyers
Posted Date : 11-Aug-2015 , 07:45:19 am | Posted By CASANSAAR
The Supreme Court on Monday stayed the Bombay high court order dismissing a challenge to the levy of service tax on lawyers.
A bench comprising chief justice H.L. Dattu, justice Amitava Roy and justice Arun Mishra tagged the matter with similar petitions before the apex court. It also stayed th...
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Service Tax |
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Service tax on mutual fund distribution to be paid by AMCs
Posted Date : 07-Aug-2015 , 08:05:44 am | Posted By CASANSAAR
The confusion about service tax on mutual fund distribution has been laid to rest. An advertisement in newspapers on Thursday has finally clarified the position of who should pay service tax on services provided by mutual fund distributors.
The advertisement issued by the Central Board of Excis...
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0 | Hits : 812
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Foreign Airlines Under Scanner for Alleged Service Tax Evasion
Posted Date : 26-Jul-2015 , 04:22:02 pm | Posted By CASANSAAR
Six foreign airlines have come under the lens of revenue authorities here for alleged underpayment of service tax believed to be worth several crores.
An inquiry has been initiated by Directorate General of Central Excise Intelligence (DGCEI) officials against these airlines for allegedly not pay...
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New guidelines for scrutiny of service tax returns from August
Posted Date : 18-Jul-2015 , 08:51:06 am | Posted By CASANSAAR
There will now be detailed manual scrutiny of service tax returns of assesses based on risk parameters by the Central Board of Excise and Customs (CBEC), under revised 2009 guidelines.
CBEC, the Finance Ministry said, has these revised guidelines, to come to effect from August 1, in view of...
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Service Tax |
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Service Charges Collected by Restaurants/Hotels/Eateries are Not Service Tax
Posted Date : 14-Jul-2015 , 10:33:21 pm | Posted By CASANSAAR
Service Charges Collected by Restaurants/Hotels/Eateries Retained by the Restaurants/Hotels/Eateries and are Not ‘Service Tax’ Imposed by the Government
Some restaurants/hotels/eateries besides charging for the food and beverages are also charging ‘service charges&...
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Service Tax |
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Manual scrutiny of Service Tax returns from Aug 1: CBEC
Posted Date : 11-Jul-2015 , 07:09:39 am | Posted By CASANSAAR
Seeking to strengthen compliance and verification, the CBEC has said that beginning August 1 it will start manual scrutiny of Service Tax returns of select assessees who have paid less than Rs 50 lakh of total tax during 2014-15.
“The focus of the detailed manual scrutiny of the returns (...
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Service Tax |
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Service Tax Clarification - Service Tax only in AC restaurants; effective rate 5.6%
Posted Date : 09-Jun-2015 , 06:35:23 pm | Posted By CASANSAAR
Service Tax Clarification - Service Tax only in AC restaurants; effective rate 5.6%
Restaurants without air conditioning facility will not charge any service tax from their customers while the ones with ACs will charge only on the 40% of the total bill amount, the finance ministry said on Tuesd...
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Service Tax |
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Service Tax contributes Rs.1.68 lakh crores to Indirect tax in 2014-15
Posted Date : 05-Jun-2015 , 08:23:48 am | Posted By CASANSAAR
Out of total indirect tax collection of Rs. 5.46 lakh crores, nearly Rs.1.68 lakh crores came from Service Tax which is nearly 30% of total collection in 2014-15, growing at the rate of 8-10% annually, a senior official from Service Tax said at an ASSOCHAM event.
The contribution of s...
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Service Tax |
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Service Tax - Penalty encouraging voluntary compliance
Posted Date : 03-Jun-2015 , 07:52:09 pm | Posted By CASANSAAR
Rationalisation of penalty provisions is encouraging voluntary compliance by Service Tax assessees, a senior finance ministry official said today.
"Penalty can be imposed under various sections. These provisions have been rationalised and harmonised to encourage voluntary payments," Ass...
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New Service tax Rate 14% becomes effective today
Posted Date : 01-Jun-2015 , 10:07:48 am | Posted By CASANSAAR
New Service tax Rate 14% becomes effective today. The tax is levied on all services, expect a small negative list.
Some of the key services that will attract higher tax and hence become costlier are: railways, airlines, banking, insurance, advertising, architecture, construction, credit card...
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Delhi HC refuses to stay on levy of 14% service tax on liquor makers
Posted Date : 29-May-2015 , 08:36:31 am | Posted By CASANSAAR
Delhi High Court on Thursday refused to stay a government notification which brings into force from June one the levy of 14 percent service tax on manufacture of alcohol on contractual basis.
The liquor companies, which have business establishments in New Delhi, had sought an interim stay on th...
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Service Tax |
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0 | Hits : 528
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Service tax at 14% and TDS on RDs effective from 1 June
Posted Date : 27-May-2015 , 08:29:35 am | Posted By CASANSAAR
The Finance Bill, 2015, received consent from the President on 14 May 2015. The changes proposed in the bill have been accepted and the effective date for some of these is 1 June 2015. The new rate of service tax, and tax deducted at source (TDS) on recurring deposit interest are two of these. Let&r...
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Service Tax |
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Service Tax Rate of 14% will be effective from 01st June 2015
Posted Date : 19-May-2015 , 09:24:17 pm | Posted By CASANSAAR
Section 66B of the Finance Act 1994 prescribes the service tax rate. it has been amended by section 108 of the finance act 2015. The rate of service tax is being increased from 12& to 14% (including cess). The increase in service tax rate will come into effect from 1st june 2015 (Notification no...
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Service Tax - Amended norms lower fines on defaulters
Posted Date : 04-May-2015 , 07:37:19 am | Posted By CASANSAAR
Businesses that have intentionally defaulted on service tax payments in the last four years will get partial relief from the hefty 100% penalty, as per the Finance Bill, 2015 approved by the Lok Sabha last week.
The amended provision introduces 50% penalty for intentional defaults from April 20...
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Service Tax |
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Effective Date of Service Tax Rate 12.36% or 14%
Posted Date : 01-May-2015 , 08:49:18 am | Posted By CASANSAAR
Effective Date of Service Tax Rate 12.36% or 14%
Finance Bill 2015 has proposed to increase effective rate of service tax from 12.36% to 14%. Effective date will be only after Finance Bill become the Finance Act or the date notified by the Govt of India.
In this regard relevant portion of D.O....
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Dont pay higher Service Tax of 14% as Finance Bill not yet passed - FinMin
Posted Date : 20-Apr-2015 , 07:57:22 am | Posted By CASANSAAR
The Finance Ministry on Saturday asked people not to pay higher service tax of 14 per cent, proposed in the budget, as the Finance Bill has not yet been passed by Parliament.
Revenue Secretary Shaktikanta Das said customers should lodge a complaint with the local Chief Commissioner if a...
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Service Tax - Service tax to stay at 12% until Parliament passes Finance Bill
Posted Date : 07-Apr-2015 , 08:10:29 am | Posted By CASANSAAR
The proposed new rate of service tax of 14 per cent will be applicable from a date to be notified by the government after passage of the Finance Bill 2015 by Parliament & Signed by the President of India.
Till then the current rate of 12 per cent will continue along with two per cen...
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Service Tax - Service Tax Changes applicable from 01-04-2015
Posted Date : 01-Apr-2015 , 10:35:23 am | Posted By CASANSAAR
Service Tax changes applicable from 1.4.2015
A) Exemptions withdrawn
Following services provided to government, local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, re...
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Service Tax |
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Service Tax - Applicability of New Service Tax Rates
Posted Date : 01-Apr-2015 , 08:42:57 am | Posted By CASANSAAR
Higher rates of service tax (from 12.36% to 14%) will become effective only when the Finance Act 2015 is enacted and not from Wednesday (01/04/2015) .
"The increase in service tax rate from 12.36% to 14% will take effect only from the day a notification is issued specifying an effective date...
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Financial sector regulators under service tax scanner
Posted Date : 26-Mar-2015 , 08:04:32 am | Posted By CASANSAAR
It is the time of the financial sector regulators to come under the scanner of the services tax department. The service tax department has sent notice to Securities and Exchange Board of India (Sebi) for tax dues on income generated through its services. Sources said the total&nb...
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PAN mandatory for service tax registration: FinMin
Posted Date : 19-Mar-2015 , 08:52:17 am | Posted By CASANSAAR
Permanent Account Number (PAN) is now mandatory for private firms for getting service tax registration besides email and mobile number.
“Applicants, who are not government departments shall not be granted registration in the absence of PAN,” according to an order issued by the Finan...
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Stop collecting service tax from pilgrims in Bodh Gaya: HC
Posted Date : 12-Mar-2015 , 08:28:42 am | Posted By CASANSAAR
The Patna high court on Wednesday directed the government to stop collecting service tax from pilgrims at Bodh Gaya.
A division bench of Chief Justice L Narasimha Reddy and Justice Vikas Jain, while hearing a PIL, also ordered constitution of a committee under the supervision of Bihar State...
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Service Tax |
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All services will not attract Swachh Bharat cess
Posted Date : 08-Mar-2015 , 08:54:57 pm | Posted By CASANSAAR
The Swachh Bharat cess will be levied on select services at the rate of up to 2 per cent, depending upon the need for funds to take forward the Prime Minister's national cleanliness drive. This was explained to a group of tax experts by Finance Ministry officials during a post-budget meeting.&n...
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Service Tax |
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Madras High Court rejected PIL seeking service tax exemption for film actors
Posted Date : 05-Mar-2015 , 08:57:40 am | Posted By CASANSAAR
Is a film actor equal to a folk or a theatre artiste so as to demand Service tax exemptions for his earnings? No, ruled the Madras high court on Wednesday, refusing to grant exemptions for film actor Siddharth Suryanarayan who wanted to be treated on a par with theatre artistes and given tax cuts.&n...
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Service Tax |
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0 | Hits : 476
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PM’s Jan-Dhan Yojana faces Service Tax hurdle
Posted Date : 25-Feb-2015 , 08:53:00 am | Posted By CASANSAAR
Financial inclusion initiatives in the country, including Jan-Dhan Yojana, Prime Minister Narendra Modi's pet project for the financial sector, is facing an unexpected hurdle in the form of high service tax because of an anomaly in tax rules. As a result, banks and banking corres...
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Service Tax |
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0 | Hits : 944
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Railways, 18 companies face probe for Service tax evasion of Rs.1000 Cr
Posted Date : 18-Feb-2015 , 08:20:06 am | Posted By CASANSAAR
The Indian Railways, Container Corporation of India (Concor), a navratna PSU, and 17 private companies, including the Adani group, are facing investigations for evasion of service tax to the tune of Rs 1,000 crore.
Indian Railways and Concor along with a private company have even been slapped with ...
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Service Tax |
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Swachh Bharat Cess may be imposed by way of a Service Tax amendment
Posted Date : 30-Jan-2015 , 08:01:50 am | Posted By CASANSAAR
A Swachh Bharat cess is likely to be imposed by way of a Service Tax amendment in the forthcoming Annual Budget.
According to sources, The Finance Ministry proposes Swachh Bharat cess seeking Rs 1 lakh crore for Swachh Bharat Mission.
The government hopes to mop up Rs 1 lakh crore ...
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Service Tax |
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0 | Hits : 759
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CBEC forms teams to hunt for companies evading taxes
Posted Date : 28-Jan-2015 , 08:08:52 am | Posted By CASANSAAR
On the lines of income tax surveys of entities suspected of evading taxes, the Central Board of Excise and Customs (CBEC) has set up as many as 40 audit commissionerates across the country tasked to audit accounts of companies and survey their other operations to detect any tax evasion.
The r...
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Service Tax |
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0 | Hits : 467
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BCCI should pay service tax for recording matches: SC
Posted Date : 08-Jan-2015 , 08:40:36 am | Posted By CASANSAAR
The Supreme Court on Wednesday said the Board of Control for Cricket in India would have to pay service tax for recording cricket matches, as it was a “service provider.”
The BCCI had moved the court against an order by the Central Excise and Service Tax Appellate Tribunal direc...
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