Blog Posts - Service Tax



Service Tax Mega Exemption Notification Amended

Ministry of Finance has amended notification no.25/2012-Service Tax, dated the 20th June, 2012, regarding mega exemption by adding that Services of life insurance business provided under following schemes - Janashree Bima Yojana (JBY); or Aam Aadmi B...
by Indian Tax Updates on Dec 26, 2012

When Service Tax is Charged on Restaurant Bills?

Have you ever noticed that few of the restaurants charges service tax as well as vat while other charges only VAT. Ever wondered why we have been charged with service tax on big restaurant not in smaller ones?? Let me start with clearing concept abou...
by Indian Tax Updates on Dec 24, 2012

Form ST-1 to include accounting codes

Service Tax (Fifth Amendment) Rules, 2012 - Amendment in Form ST-1 to include accounting codes NOTIFICATION NO. 48/2012-ST [F.NO. 137/22/2012-ST]/GSR 858 (E) DATED 30-11-2012 In exercise of the powers conferred by sub-section(l) read with sub-sec...
by Indian Tax Updates on Dec 14, 2012

FAQ's on CENVAT Credit

Frequently Asked Questions on CENVAT Credit Issue No.1: Whether service tax paid on Group medi-claim policy, Workmen’s accident policy,landscaping of factory garden etc. can be allowed as credit?Expenses incurred towards outdoor catering in the...
by Indian Tax Updates on Nov 27, 2012

Restoration of Service Tax Old Accounting Codes

Restoration of Service Specific Accounting Codes for Payment of Service Tax CIRCULAR NO. 165/16/2012 -ST [F.NO.341/21/2012-TRU]  DATED 20-11-2012 Negative List based comprehensive approach to taxation of services came into effect from the first da...
by Indian Tax Updates on Nov 26, 2012

SERVICE TAX on WORKS CONTRACT w.e.f. 1st July, 2012

Complete Guide to Understand Service Tax on Works Contract w.e.f. 01-07-2012 This post covers all the points related to Service Tax on Works Contract w.e.f. 1st july, 2012. This article is aggregated under following heads: Definition and Elaboratio...
by Indian Tax Updates on Nov 5, 2012

Service tax: Work in progress for EPC projects

Taxation of EPC (engineering, procurement, commissioning) contracts has long been a matter of significant debate, ever since the Daelim case first laid the principle that a composite contract cannot be vivisected. Regulations and judicial guidance ha...
by Indian Tax Updates on Nov 5, 2012

Free Ebook on Service Tax - Negative List Regime by CA Pritam Mahure

Service Tax - Negative List Regime by CA Pritam Mahure About the Book: This book is a compilation of key Service Tax Legal provisions (as applicable from 1 July 2012). Wherever possible, relevant amendments have been shown in red colour/ track ch...
by Indian Tax Updates on Oct 31, 2012

Exempted Services w.e.f 1st July, 2012

Vide Notification No. 25/2012-Service Tax the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the following taxable services from the whole of the service tax leviable thereon under section 66...
by Indian Tax Updates on Oct 31, 2012

Modified service tax return form ST-3 for April-June 2012 excel based utility

We would like to intimate most awaitedforms modified version of Form ST-3 for the Quarter April’2012 to June’ 2012 has been released. Now all the assesses will be able to file their Service Tax return for the quarter April’2012 to June’ 2012,...
by Basicaccounts on Oct 29, 2012

Reversal of CENVAT Credit- Rule 3(5B/C)

Rule 3(5B) Sub rule 5B of Rule 3 of the CENVAT Credit Rule 2004, provides that if the value of any: Input; or capital goods before being put to use, on which CENVAT Credit has been taken... [[ This is a content summary only. Visit www.gencommer...
by Indian Tax Updates on Oct 26, 2012

Service Tax Modified Return (ST3) for the Quarter Apr-Jun,2012

Modified version of the Service Tax Return (ST3) for the quarter Apr-Jun,2012 is now available for uploading to ACES. Service Tax Modified Return (ST3) for Apr-Jun,2012 Now all the assesses will... [[ This is a content summary only. Visit www.gen...
by Indian Tax Updates on Oct 22, 2012

Service Tax Liability on Recipient in Reverse Charge Mechanism

Service Tax Liability on Service Recipient in Reverse Charge Mechanism, if Service Provider turnover does not exceeds 10 Lakhs. Service Tax Liability on Recipient in Reverse Charge... [[ This is a content summary only. Visit www.gencommerce.net fo...
by Indian Tax Updates on Oct 19, 2012

SERVICE TAX RETURN Date Extended to 25-11-2012

Due Date of Service Tax Return for 01.04.2012 to 30.06.2012 is hereby extended to 25.11.2012. RULE 7 OF THE SERVICE TAX RULES, 1994 - RETURNS - EXTENSION OF TIME TO FILE RETURN IN FORM... [[ This is a content summary only. Visit www.gencommerc...
by Indian Tax Updates on Oct 17, 2012

Opinion: A date of ignominy in the Kingfisher Airline calendar

2010 Kingfisher Calendar. Copyright KingfisherWorld Kingfisher is known for its super-sexy swimsuit calendar, featuring some of the most beautiful women in the world, and Kingfisher Airline's Chairman Dr. Vijay Mallya's son, Sidhartha, may love cavo...
by Bangalore Aviation on Oct 5, 2012

Additional Services Exempted from Service Tax

At present there are 17 items in the negative list (Section 66 D of the Finance Act, 1994) and 39 items in the mega exemption notification 25/2012-ST dated 20.6.2012. Government has recently exempted... [[ This is a content summary only. Visit www.g...
by Generation Commerce on Sep 8, 2012

Non-applicability of taxable services

Non-applicability of taxable services in PCE-Paper 5: Taxation, IPCE-Paper 4: Taxation and Final-Paper 8: Indirect Tax Laws for November, 2012 examinations The Examination Committee at its 497th... [[ This is a content summary only. Visit www.gencom...
by Generation Commerce on Sep 8, 2012

Income tax department re-freezes Kingfisher Airline's bank accounts

The income tax department has frozen two of Kingfisher Airline's bank accounts for alleged non-payment of dues.However the airline has clarified in a statement The IT department attached two of our bank accounts on May 24th which was not in accordanc...
by Bangalore Aviation on May 29, 2012

மொபைல் போன் கட்டணம் உயருகிறது!

இந்த ஆண்டு அறிவிக்கப்பட்டுள்ள சேவை வரி விவரத்தில் மொபைல்களுக்கான கட்டணங்கள் 10-ல் இருந்து 12 ச...
by NILAVAITHEDI on Mar 17, 2012

Service Tax on Interior Decorator | Definition, Scope, Exemption and Details

Service tax is imposed on different class of services and is payable on taxable service. Interior Decorator Services is one of the taxable services chargeable to service tax. Here is the full details regarding the Service of Interior Decorator. Inter...
by TaxMasters.In on Feb 8, 2012


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