Swachh Bharat Cess (SBC) is effective from today (Nov 15, 2015). Please Note the following :- SBC to be shown and charged Separately in the Service Invoice. Service Tax will be @ 14% & SBC will @ 0.5%. Both needs to be shown separately in the Invoice. Do not show the Service Tax as 14.5%. […]
Swachh Bharat Cess (SBC) effective from today (15th Nov 2015) Read More »
We would like to bring to the attention of the Service Tax assessees that vide Notification No 16/2013 dtd 22nd Nov 2013, the e payment of Service Taxes has been made mandatory in case of asseesees with Service Tax liability of more than Rs. 1 Lakh. Previously the limit was fixed at Rs. 10 Lakhs.
E payment of Service Tax mandatory if total payment exceeds Rs. 1 Lakh. Read More »
The Service Tax Department has issued a new Circular No 174/9/2013 – ST dtd 25th November 2013 , regarding the new Voluntary Compliance Encouragement Scheme 2013 (VCES 2013). The unresolved issues raised by assessees have been clarified in this circular. The Circular is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2013/11/25112013_ST_Circular-No174_2013_st.pdf”]
New Clarifications for VCES 2013 issued Read More »
The Central Board of Excise & Customs vide its order No :- 1/2013-Service Tax dtd 06th March 2013 has extended the due date for filing the Service Tax returns for the period from July 2012 – Sep 2012. As per the earlier order, the due date was 25th March 2013. Now , this time limit
Due Date for Service Tax Returns (for July-Sep 2012) Extended Read More »
The Central Board of Excise and Customs has released a handbook on “Taxation of Services” under the new Service Tax regime. This hand book covers the entire provisions and important notifications with regard to new Service tax provisions under “Negative List” approach of taxation of services. For the benefit of our readers, we provide below
Taxation of Services – An Educational Guide Read More »
The service tax department has issued new circular spefifying new accounting codes under the Negative List approach to taxation of services. As per this circular, the Accounting Codes to be used for payment of service tax under Negative List approach, w.e.f 1st July 2012 has been specified. The relevant circular is reproduced below :- [gview
The value for the purpose of arriving at the Service portion in the amount charged at the restaurants (or) by outdoor caterers in their service provided will be determined as under :- Sl. No. Description Percentage of the total amount (1) (2) (3) 1. Service portion in an activity wherein goods, being food or any
New Valuation rules in respect of Services rendered in Restaurant / Outdoor catering Read More »
The Ministry of Finance vide its Notification No 24/2012 dtd 6th June 2012 has notified the rules for Determination of Value of Service Portion in the execution of the Works Contract. These rules are notified through Service Tax (Determination of Value) Second Amendment Rules, 2012 which will be applicable from 1st July 2012. According to
New Service Tax rules for Valuation in Works Contract Read More »
As per the Finance bill 2012, the rate of Service Tax has been increased from 10% to 12%. The effective rate of Service Tax to be charged has been increased from 10.3% to 12.36%. This will be effective from 1st April 2012.
Effective date for Increase in Rate of Service Tax Read More »
The Last date for filing the Half Yearly Service Tax returns in respect of Half year ended 30th September 2011 has been extended again from 06.01.2012 to 20.01.2012. The relevant Circular is reproduced below. Those assessees who have not filed their returns can make use of this opportunity. Cick here to send your enquiry for
Service Tax Half yearly return filing – Last Date extended again Read More »
The last date for filing Service Tax return for the 1 half of the financial year 2011-12 has been extended upto 6th January 2012. The relevant Circular is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2011/12/2011_CBEC.pdf”]
Due Date for filing Service Tax returns extended !!! Read More »
The Last date for filing the Service Tax Half yearly returns for the Half year ended 30/09/2011 (1st April 2011 to 30th Sep 2011) has been extended from 25th October 2011 to 26th December 2011. The relevant notification is reproduced below. F. No. 137/99/2011 – Service Tax Government of India Ministry of Finance Department of
Last date for Service Tax returns extended Read More »
Travel by train, passport fee, capitation fees to education institutions and non-compete fees given by companies may come under tax net as the government considers a ‘negative list’ model to tax services, which will boost its tax revenues significantly. Most countries follow the negative list model-where a list of exempted services is specified and every
Train travel, passport fee, capitation fee may come under service tax net Read More »
