New Reverse Charge Mechanism (w.e.f. 1.7.2012) The service receiver is liable to pay tax, without any benefit of threshold exemption alongwith service provider also liable for certain percentage on case to case basis (w.e.f. 1.7.2012 as per Notification No. 30/2012-ST dated 20.6.2012 as amended by Notifications No. 45/2012-ST dated 7.8.2012 and 10/2014-ST dated 11.7.2014 and […]
Interest on refund even if law is silent I am sharing here are important judgement of the Hon’ble High Court of Gujarat in the case of State of Gujarat Vs. Indian Petro Chemicals Ltd. [2015 (6) TMI 541 – Gujarat High Court] on following issues:
Latest Penal Provisions In Services Tax (PART -2) – Change in section 78 As per Amendment made by FA,2015 (w.e.f. 14th May ,2015) The FA, 2015 has substituted section 78 as below :- Section 78:-Penalty for failure to pay Service Tax for reasons of fraud etc.
service tax Rates since 1994 and now onwards w.e.f. 01.06.2015 Service tax Rates and inclusion and exclusions of services changed over period of time . Now the Rates w.e.f. 01.06.2015 will be 14%
Registration Amendment details on ACES Portal on or before 31st May,2015 Except Government Departments, all service tax registered person who do not having PAN based registration number must file an amendment to obtain a PAN based registration before 31st May 2015 . (refer Order no.1/2015-Service Tax dated 28/02/2015).
CHANGES IN NEGATIVE LIST – PART III -BUDGET 2015 Modifications of the negative list applicable from the notified date:- Betting gambling or lottery [Clause (i) of Section 66D] Finance Bill, 2015 has inserted the following explanation in clause (i) of section 66D- The expression, ‘gambling or lottery’ shall not include the activity specified in Explanation […]