Decisions Taken On Indirect Tax Issues by the Forum Chaired by Dr. Parthasarathi Shome, Adviser to the Finance Minister
Posted Date : 17-Dec-2013 , 06:17:10 pm | Posted By CASANSAAR
In July 2013, the Union Finance Minister Shri P.Chidambaram constituted a Forum for exchange of views between industry groups and Government on tax related issues or tax related disputes. The Forum is chaired by Dr. Parthasarathi Shome, Adviser to the Finance Minister and supported by officers of th...
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Service Tax |
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FinMin may garner Rs 3,000 crore from service tax amnesty scheme
Posted Date : 16-Dec-2013 , 08:53:54 am | Posted By CASANSAAR
A one-time amnesty scheme to encourage payment of service tax dues is proving to be a winner for the Finance Ministry.
“We have managed to get over Rs 2,500 crore from the Voluntary Compliance Encouragement Scheme for Service Tax. The total will easily exceed Rs 3,000 crore or even mu...
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Service Tax |
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CBEC Pavilion Received Bronze Medal for Excellence in Display at 33rd Indian International Trade Fair, 2013
Posted Date : 28-Nov-2013 , 07:30:49 pm | Posted By CASANSAAR
CBEC pavilion in 33rd India International Trade Fair, 2013 has been awarded with a bronze medal by Dr. Farooq Abdullah, Hon’ble Minister for New and Renewable Energy during a ceremony held at Pragati Maidan, New Delhi yesterday. CBEC pavilion was highly praised by the public as well as me...
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Service Tax |
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Reduction in Threshold Limit for Mandatory E-Payment of Central Excise Duty and Service Tax
Posted Date : 27-Nov-2013 , 07:08:09 pm | Posted By CASANSAAR
It has now been decided to reduce the threshold limit of mandatory e- payment from rupees ten lakhs to rupees one lakhfor both Central Excise and Service Tax payment with effect from 1st of January, 2014. Notification no. 15/2013-C.E. ( N.T.)dtd 22.11.13 and 16/2013- Se...
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Service Tax |
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Finance Minister says no escape route for service tax evaders
Posted Date : 26-Nov-2013 , 09:52:56 pm | Posted By CASANSAAR
Finance Minister P Chidambaram on Tuesday said service tax evaders would not get any escape route and warned that stern action, including arrest and prosecution, would be taken against them.
"The services sector constituted 55 percent of the GDP of the country. There is no reason why this sect...
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Service Tax |
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Service tax arrears paid before May 10 unlikely to attract penalty
Posted Date : 26-Nov-2013 , 03:13:57 pm | Posted By CASANSAAR
People paying service tax arrears before May 10 can get relief from penalty, the Finance Ministry has indicated.
In a statement issued here on Monday, the Ministry clarified that in cases where service tax dues have been paid in between the date of announcement and actual implementation of ...
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Service Tax |
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Clarifications Regarding the Service Tax Voluntary Compliance Encouragement Scheme (VCES)
Posted Date : 25-Nov-2013 , 05:32:22 pm | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram recently held interactive sessions at Chennai, Delhi and Mumbai to ascertain and address the concerns of trade on any aspect of the Service Tax Voluntary Compliance Encouragement Scheme (VCES). During these interactive sessions,...
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Service Tax |
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Only 30 per cent of registered pay Service Tax
Posted Date : 05-Nov-2013 , 08:55:12 am | Posted By CASANSAAR
Only 30 per cent of those registered from the Service Industry pay the tax while the remaining 70 per cent do not pay either because they are not aware of their responsibility or are registered despite being out of its ambit.
Making an elaborate presentation on the need to deregister from t...
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Service Tax |
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Despite negative list, service tax coverage yet to increase
Posted Date : 21-Oct-2013 , 08:24:35 am | Posted By CASANSAAR
Introduction of a ‘negative list’ for comprehensive taxation of the services sector was touted as a major tax reform. But, even after a year of its introduction, few new services have been brought in the tax net. Thanks to a manpower shortage, officials of the service taxdepartment ...
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Service Tax |
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About Rs 600 cr service tax evasion detected by Finance Ministry
Posted Date : 11-Oct-2013 , 08:48:18 am | Posted By CASANSAAR
In its effort to check any leakage of indirect tax revenue, the Finance Ministry has detected service tax evasion of about Rs 600 crore between January and July this year. As many as 569 cases were detected by various central excise and service taxformations across the ...
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Service Tax |
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Service tax applicable on food, beverages served at pool side
Posted Date : 10-Oct-2013 , 08:43:50 am | Posted By CASANSAAR
Food and beverages served at swimming pool side in a hotel will attract service tax, the Finance Ministry has said. "Services provided by specified restaurant in other areas of the hotel are liable for service tax," said the Central Board of Excise and Customs (CBEC) while clarifying ...
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Service Tax |
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Tax relief on goods sold at maximum retail price basis by air-conditioned restaurant
Posted Date : 08-Oct-2013 , 12:40:38 pm | Posted By CASANSAAR
The government on Monday clarified that any goods sold by an air-conditioned restaurant on maximum retail price (MRP) basis will not attract any service tax. This means that a bottle of water or cold drink purchased while dining in an air-conditioned restaurant will not be includ...
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Service Tax |
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Service Tax Return (ST-3) for the period April-September' 13 is now available for e-filing by the assesses in both offline and online version
Posted Date : 01-Oct-2013 , 05:48:37 pm | Posted By CASANSAAR
Service Tax Return (ST-3) for the period April -September' 13 is now available in ACES for e-filing by the assesses in both offline and online version. The last date of filing the ST-3 return for the said period is 25th October, 2013.
The assesses can file return either online or use the o...
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Service Tax |
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Service tax on skill development companies rolled back
Posted Date : 26-Sep-2013 , 08:48:37 am | Posted By CASANSAAR
In a big relief for youth pursuingvocational training courses to land a job,Finance Minister P Chidambaram has rolled back the 12.36% service tax on skill development and training firms imposed in the Finance Bill of 2013-14. Experts had warned that ...
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Service Tax |
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Nothing religious about marriage, pay service tax - CESTAT
Posted Date : 21-Sep-2013 , 08:18:12 am | Posted By CASANSAAR
Marriage as a social institution existed much before religions came into being and, therefore, it is futile to argue that the marriage is a religious function— law itself recognizes registered marriages as a legally valid form of marriage and there is no religious sanctity attached to suc...
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Service Tax |
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School bus, canteen, hostel exempt from service tax: Fin Min
Posted Date : 21-Sep-2013 , 07:33:50 am | Posted By CASANSAAR
The Finance Ministry on Friday clarified that "auxiliary educational services" like hostels, canteen and school buses will not attract 12 percent service tax.
"By virtue of the entry in the negative list and by virtue of the portion of the exemption notification, it will be clear that all services ...
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Service Tax |
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Fin Min may form new anti-evasion, intel unit for Service tax
Posted Date : 15-Sep-2013 , 07:49:19 pm | Posted By CASANSAAR
Expecting an increase in revenue from service tax, the Finance Ministry may set-up a new anti-evasion and intelligence unit to check leakage of any indirect tax.
The issue of creating such a separate unit had come up for discussion during a recent meeting of Chief Commissioners and D...
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Service Tax |
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Rs 1.27 lakh crore indirect tax revenue stuck in litigations
Posted Date : 09-Sep-2013 , 08:39:22 am | Posted By CASANSAAR
A staggering Rs 1.27 lakh crore revenue as central excise and service tax remained unrealised due to appeals and litigations pending before authorities during the financial year 2011-12, says a CAGreport. Of the total of Rs 1,27,897.39 crore pending demand, Rs 73,274.74 crore was...
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Service Tax |
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Finance Ministry sends letters to indirect tax defaulters
Posted Date : 29-Aug-2013 , 08:22:05 am | Posted By CASANSAAR
For the first time, the Finance Ministry has started sending letters to service tax, customs and excise duty defaulters asking them to come clean on certain dubious transactions carried out by them. The letters are being issued by two lead intelligence agencies under the Finance Minis...
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Service Tax |
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FAQ – Service Tax return (ST3) for Oct, 2012 – Mar, 2013
Posted Date : 28-Aug-2013 , 08:33:57 am | Posted By CASANSAAR
I. GENERAL
The ST-3 Return for the period, Oct, 2012- Mar, 2013 is a quarterly or half-yearly?
It is a half yearly return.
Is there any change in the Format of ST3 return for the return period Oct, 2012 -March, 2013 when compared to July – Sept, 2012 return?
Yes. July &ndas...
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Service Tax |
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Online version of Service Tax return (ST-3) for October 12 to March 13
Posted Date : 27-Aug-2013 , 08:27:54 am | Posted By CASANSAAR
The online version of the Service Taxreturn (ST-3) for the period October’12 to March’13 is now available for e-filing in ACES. Assessees can also use the offline utility by downloading the latest version from
http://acesdownload.nic.in/ or
from ‘DOWNLOA...
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Service Tax |
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Film producer Samir Karnik arrested for service tax evasion
Posted Date : 24-Aug-2013 , 08:33:48 am | Posted By CASANSAAR
Bollywood producer and directorSamir Karnik was today arrested by Service Tax Department for alleged tax evasion of Rs 1.18 crore and was later released on bail by a court.The anti-evasion team led by Deputy Commissioner, Service Tax, Samir Wankhede found that Karnik had pr...
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Service Tax |
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First person arrested for service tax evasion gets bail
Posted Date : 15-Aug-2013 , 08:40:51 am | Posted By CASANSAAR
The first person to be arrested for default of service tax has been granted a bail granted by the Calcutta High Court. Sudip Das, owner of courier company M/s Blue Bird in Kolkata was arrested earlier this month for evading service tax of Rs 70 lakh.
The arrest wa...
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Service Tax |
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Finance Minister Releases FAQ on Service Tax VCES
Posted Date : 08-Aug-2013 , 07:20:35 pm | Posted By CASANSAAR
Union Finance Minister Shri. P. Chidambaram released a booklet containing Frequently Asked Questions (FAQ) on Service Tax Voluntary Compliance Encouragement Scheme, 2013 in New Delhi today in the presence of Revenue Secretary, Chairperson and other members of Central Board of Excise & Customs an...
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Service Tax |
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Sleuths make first arrest of service tax defaulter
Posted Date : 06-Aug-2013 , 07:37:21 am | Posted By CASANSAAR
The first arrest of a service tax defaulter in the country has been made after government got the powers recently to crack the whip on evaders. A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh in the first such case after Finance Minister...
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Service Tax |
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Service Tax return (ST-3) for the period October 12 to March 13 is now available
Posted Date : 31-Jul-2013 , 01:46:21 pm | Posted By CASANSAAR
The Offline Excel utility for filing half-yearly Service Tax return (ST 3) for the period 1st October, 2012 to 31st March, 2013 is now available in ACES. The same can be downloaded from http://acesdownload.nic.in/.
It can also be accessed from 'DOWNLOADS' section of ACES website, ...
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Service Tax |
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Amnesty scheme for service tax defaulters fails to take off
Posted Date : 31-Jul-2013 , 08:13:56 am | Posted By CASANSAAR
The amnesty scheme for Service Tax defaulters, christened Service Tax Voluntary Compliance Encouragement Scheme, has not taken off, as the trade and industry await more clarity. A major hurdle that precludes service tax defaulters from disclosing under the scheme is the fear...
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Service Tax |
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Kings XI Punjab co-owners KPH Dream gets service tax notice
Posted Date : 19-Jul-2013 , 07:47:07 am | Posted By CASANSAAR
The Central Excise Department today said it has slapped a service tax of Rs 6 crorer on Preity Zinta co-owned KPH Dream Cricket, who are part owners of IPL franchise Kings XI Punjab.
"We have served a notice on KPH Dream Cricket, seeking service tax payment of Rs 6 crore," an official of Chandigarh...
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Service Tax |
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CBEC to target 12 lakh non-filers of service tax: FM
Posted Date : 17-Jul-2013 , 03:23:09 pm | Posted By CASANSAAR
In a stern message to indirect tax evaders, Finance Minister P Chidambaram today said the Revenue Department will target 12 lakh service taxassessees who have stopped filing returns."We are targeting 12 lakh non-filers and stop-filers of service tax," he told reporters after inau...
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Service Tax |
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Concerns on service tax voluntary compliance scheme to be addressed: Revenue Secretary
Posted Date : 06-Jul-2013 , 08:30:31 am | Posted By CASANSAAR
Revenue Secretary Sumit Bose today said concerns of the industry relating to Service Tax Voluntary Compliance Encouragement Scheme (VCES) 2013 will be duly addressed and the necessary clarification, wherever required, will be issued at the earliest.
Bose was addressing the repre...
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Service Tax |
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