Service by a Director or Body Corporate Clause 1.1 Since 1.7.2012, any service provided by a director who is non executive, nominee and independent directors to the company, thus on such activity carried service tax is payable. Under are the justifications for clarity. Section 65B(44) of the Finance Act, 1994 as introduced w.e.f 01.07.2012 is […]
Category Archives: Service Tax
Service tax rates,taxable services in india
Service tax rate of 14% is effective immediately from a date to be notified later The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary and Higher Secondary Education cess. A new Chapter VI has been inserted that contains […]
Effective date of applicability The effective date for levy of Service Tax on Aggregator’s services shall be 1st March 2015. The amendments in Service Tax Rules 1994 and Notification No. 30/2012-ST have been made w.e.f. March 1, 2015 itself, i.e. date of notifications. The aggregators were till now not specifically covered under the Service Tax […]
Service Tax amendments applicable w.e.f.from 1st April,2015 The Finance Bill, 2015 has proposed lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes can be categorized as follows:
SCOPE AND RELEVANCE OF ‘GOVERNMENT’ IN SERVICE TAX As we all know, Service Tax is levied when an activity is carried out by one person for another for a consideration i.e., two persons are involved – a service provider and a service receiver. The term ‘person’ is defined in clause 37 of section 65B of […]