Category Archives: Service Tax

Announcement of New USA Branch of MRC

We are delighted to inform you that Mukesh Raj & Co. (MRC) has inagurated its first foreign branch office at New Jersey, United States Of America. The new foreign office address is: MRC (Chartered Accountants) 85, Forest Drive, Apartment C … Continue reading

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Service tax on on-going works contracts entered into prior to 01.06.2007

Circular No. 128/10/2010-ST, dated 24-8-2010 It has been brought to the notice of the Board that the following confusions/disputes prevail with respect to long term works contracts which were entered into prior to 01.06.2007 (when the taxable service, namely, Works … Continue reading

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Delhi High Court grant the stay on service tax on renting of immovable property

The Hon’ble Delhi High Court in the aforesaid Writ Petition filed by Home Solutions Retail Ltd. has granted a stay from recovery of Service tax under the newly amended taxing entry of “Renting of Immovable Property service”, which amendment was … Continue reading

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Budget-2010-Indirect Tax Proposals

Indirect Taxes Custom & Excise. The standard rate on all non-petroleum products enhanced from 8 per cent to 10 per cent ad valorem. The specific rates of duty applicable to portland cement and cement clinker also adjusted upwards proportionately. Similarly, … Continue reading

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Problems faced by exporters in availing refund of excess credit

 Circular No. 120/01/2010-ST F.No.354/268/2009-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** New Delhi dated the 19th January, 2010. To All Chief Commissioners of Central Excise, All Chief Commissioners of Customs, All Chief Commissioners of … Continue reading

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Indian Goods & Service Tax: Proactive actions for Indian Inc.

By CA. Vinay Bhushan “Proactive action is always the best approach to deal with challenging matters before they get out of hand” Is Indian Inc. really ready to adopt Goods and Service Tax (‘GST”)? The answer of this question is … Continue reading

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Advances Received are taxable under Service Tax

The Finance Act, 2005 has inserted Explanation 3 in Section 67 of the Act so as to clarify that the gross amount charged for taxable services shall include any amount received towards the taxable service received before, during or after … Continue reading

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budget update 2009- Indirect Taxes

The Finance Minister has confirmed the introduction of the Goods and Services Tax (GST) by the targeted date of 1 April 2010. It will be a dual GST comprising of a Central GST and a State GST, whereby the Centre … Continue reading

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Service Tax on Commercial Rent Held Unconstitutional (Delhi High Court)

“The Delhi High Court has on April 18, 2009 struck down the levy of service tax on renting ofimmovable property as “unconstitutional”.” For_Immediate_Release: The Delhi High Court has today struck down the levy of service tax on renting of immovableproperty … Continue reading

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Special Economic Zone (SEZ) – Exemption from Service Tax – Now Exemption is allowed through refund mode

NOTIFICATION NO. 09/2009-SERVICE TAX, Dated: March 3, 2009 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), and in supersession of the notification  of the Government of India, Ministry … Continue reading

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