CONCEPT ON GOODS AND SERVICE TAX (GST) GST Bill Officially known as the Constitution Bill 2014. GST is a significant step in reform of indirect taxation in India. GST is a comprehensive indirect tax leviable on manufacturing, sale and consumption of goods and services in India.
REFUND OF TAX COLLECTED WITHOUT AUTHORITY OF LAW As postulated by Article 265 of the Constitution of India, a tax shall not be levied, except with the authority of law. A tax shall be valid only if it is relatable to statutory power emanating from a statute. Where the levy and collection of tax is […]
Assessment of Service Tax considering the free supply The inclusion or exclusion of value of free supply particularly in the case of Industrial and commercial construction has been a bone of contention between the revenue and the assessee regarding assessment of Service Tax. The revenue always insists that the cost of free supply should be […]
Validity of Service Tax Audit – June 2016 In the past there have been a lot of disputes with quashing of Rule on audit [5A(2)], leading to questioning of legality of service tax audit. When self assessment came the power of the revenue to scrutinise records was supposed to diassapear. CAs were however empowered under […]
No Service tax on sale of under construction flats if contract price includes value of land Important judgement of the Hon’ble High Court of Delhi in the case of Suresh Kumar Bansal Vs. Union of India & Ors; Anuj Goyal & Ors Vs. Union of India & Ors [2016-TIOL-1077-HC-DEL-ST] on the following issue: