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Tag Archives: Service Tax
Documents required for Registration of Service Tax
F. No. 137/120/2011 – Service Tax Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) New Delhi dated the 13th December 2011 ORDER NO. 2 /2011 – Service Tax In exercise of the … Continue reading
Point of Taxation in Service Tax
One major change made in service tax effective from 01-04-2011 is the introduction of Point of Taxation Rules, 2011 to (a) introduce the provisions relating to payment of service tax on accrual basis instead of receipt basis and (b) to … Continue reading
HIGHLIGHTS OF UNION BUDGET – 2011-12
The basic exemption limit in the case of individuals increased from Rs.1.60 lacs to Rs.1.80 lacs. However, there is no increase in basic exemption limit in the case of Resident Women who is below 60 years at any time during … Continue reading
Posted in Income Tax, Service Tax, VAT
Tagged 2011, Amendment, Budget, Income Tax, India, new rate, Service Tax, Tax rate
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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
Posted in Service Tax
Tagged CBEC, Circular No. 128/10/2010-ST, Service Tax, Works Contract
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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
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
Posted in Service Tax, VAT
Tagged 2010, Budget Analysis, Buget, Custom, Excise, India Budget, Indirect, Service Tax, Tax
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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
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
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
Posted in Service Tax
Tagged Budget 2009, Custom Duty, Excise, Indirect Tax, Service Tax
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Service tax on renting of immovable property
In a recent landmark judgment, in Home Solution Retail India Ltd. & Others vs. UOI & Others, the Delhi High Court has pronounced its judgment with regard to several writ petitions which had challenged the applicability of the levy of … Continue reading
