Service Tax return for the period 1st April, 2017 to 30th June,2017 shall be submitted by 15th Aug. 2017, in form ST-3 or ST-3C as the case may be, period for revision of the return shall be 45 days from the date of submission of return.
Showing posts with label Service Tax. Show all posts
Showing posts with label Service Tax. Show all posts
Friday, 23 June 2017
Thursday, 4 August 2016
Goods and Service Tax- NEXT STEPS
With Rajya Sabha approving the long-delayed GST bill, the government has announced on thursday, 4th Aug., 2016, roadmap on implementation of GST.
Read more: https://drive.google.com/open?id=0B1rRav-P4-8Jb1ptbDFqMjhWemc
Source:finmin.nic.in
Read more: https://drive.google.com/open?id=0B1rRav-P4-8Jb1ptbDFqMjhWemc
Source:finmin.nic.in
Sunday, 31 July 2016
TRANSITIONAL PROVISIONS UNDER MODEL GST LAW
The objective of the presentation is to impart understanding on various issues which a business unit/service provider shall face in this change over from earlier law to GST.
Wednesday, 1 June 2016
Point of Taxation for New Levy of Krishi Kalyan Cess(KKC)
Government is seeking to impose KKC in cases, where the invoice and provision
of service has taken place prior to June 1, 2016, however payment is not
received till June 1, 2016. This would imply that on all debtors as on May 31,
2016, assesses will be liable to pay KKC. KKC would be payable in case liability to pay Service
tax is on service provider but under similar situation KKC would not be payable when liability to pay
Service tax is on the service recipient under reverse charge.
Read more:
https://drive.google.com/file/d/0B1rRav-P4-8JY0RKcnZMOWpvMWM/view?usp=sharingWednesday, 18 November 2015
FAQ ON SWACHH BHARAT CESS
In his speech for Budget 2015-16 the Hon’ble Minister of Finance said that "Swachh Bharat is not only a programme of hygiene and cleanliness but, at a deeper level, a programme for preventive health care, and building awareness". Since then we all were awaiting the date from which this cess is going to be enforced. At last on 6th of Nov. 2015 Central Government issued Notification No. 21/2015-Service Tax whereby announced 15th of Nov. 2015 as the date for enforcement of Swachh Bharat Cess.
A step further, Central Government has also cleared the doubts in the mind of general public about the utilization of the fund created out of Swachh Bharat Cess. It has been promised that the proceeds of the SBC will be credited to the Consolidated Fund of India, and the Central Government may, after due appropriation made by Parliament, utilize such sums of money of the SBC for the purposes of financing and promoting Swachh Bharat initiatives or for any other purpose relating thereto.
Read More:
https://drive.google.com/file/d/0B1rRav-P4-8Jc2tQVFJzTDhsazA/view?usp=sharing
Date of enforcement of Swachh Bharat Cess
Chapter VI (Section 119) of the Finance Act 2015 contains provisions for levy and collection of Swachh Bharat Cess (SBC). Now the Government has announced 15th November, 2015 as the date from which the provisions of Section 119 would come into effect. (notificationNo.21/2015-Service Tax, dated 6th November, 2015 refers).
Copy of Notification No. 21/2015-Service Tax:-
Simultaneously, Government has also notified levy of Swachh Bharat Cess at the rate of 0.5% on all taxable services. Effectively, the rate of SBC would be 0.5% and new rate of service tax plus SBC would be 14.5%. As such SBC translates into a tax of 50 paisa only on every one hundred rupees worth of taxable services. The proceeds from this cess will be exclusively used for Swachh Bharat initiatives.
Provided that Swachh Bharat Cess shall not be leviable on services which are exempt from service tax by a notification issued under sub-section (1) of section 93 of the Finance Act, 1994 or otherwise not leviable to service tax under section 66B of the Finance Act, 1994.
Copy of Notification No. 22/2015-Service Tax:-
Tuesday, 18 August 2015
ONLINE VERIFICATION OF PAN, SERVICE TAX AND CENTRAL EXCISE REGISTRATION
PAN - Online Verification
By using the PAN Verification facility, one can know/verify the Permanent Account Number (PAN). This facility is refered to as "PAN Verification" or "Know Your PAN". This facility can be accessed from :
This facility can be used to verify the PAN of individuals as well as non-individual PAN holders like firm, company, etc. To verify the PAN one has to provide basic details of the PAN holder which cover Date of Birth/Date of Incorporation of the PAN holder and surname, middle name and first name of the PAN holder.
After providing the details in the system, the verification code appearing on the screen is to be entered and then the request is to be submitting by clicking on "Submit". On clicking "Submit" the PAN verification request will be submitted. If the details provided in the system are correct and match with the database of the Income-tax Department, the Permanent Account Number linked with the respective details will be displayed along with the name and jurisdiction of the PAN holder. The status of the PAN, i.e., whether active or not will also be displayed.
Using the above discussed facility one PAN can be verified at a time. The bulk PAN verification facility can be used by Government and non-Government entities who wish to verify multiple PANs. To use the facility of "Bulk PAN Verification" one has to get himself registered as "Bulk PAN Verification User". Check the following link for registering as a "Bulk PAN Verification User" :
After getting registered as a "Bulk PAN Verification User", the user can carry on verification of multiple PANs by uploading the bulk PAN verification query.
Service Tax and Central Excise registration- Online Verification
The facility enables the Assessee to view its details (name, address, location code) as present in the Assessee Master provided by CBEC. Details of Assessee codes allotted for Service Tax and Central Excise can be viewed using this facility.
Thursday, 4 June 2015
Valuation and Abatement for Goods Transport Agency (GTA) Service
As per Serial No. 7 of Notification 26/2012-ST, dated 20/6/2012, the service tax is payable for services provided by GTA on 25% of gross amount charged. The abatement of 75% of gross amount charged is permitted for determining the value on which tax is payable. This prohibits availment of credit on inputs, capital goods and input services used for providing taxable service.
With effect from 1/4/2015, amendment has been made vide notification no.08/2015-ST, dated 1/3/2015, which has reduced abatement from 75% to 70%. Thus service tax will be payable on 30% of the value as against 25% of the value with effect from 1/4/2015.
As per notification no 14/2015-ST, dated 19/5/2015, rate of service tax has been raised to 14% with effect from 1/6/2015, instead of 12.36% (Service tax 12%, Education cess 2% and Secondary and Higher Education cess 1%) up-till 31/5/2015
Illustrations:
Let amount of GTA service charged is Rs.50,000.00
Service Tax before 1/4/2015
Value of GTA service charged is Rs.50,000.00
Less: Abatement @ 75% Rs.37,500.00
Taxable value Rs.12,500.00
Service Tax on above @12.36% Rs.1,545.00
Service Tax after 1/4/2015 up to 31/5/2015
Value of GTA service charged is Rs.50,000.00
Less: Abatement @ 70% Rs.35,000.00
Taxable value Rs.15,000.00
Service Tax on above @12.36% Rs.1,854.00
Service Tax from 1/6/2015
Value of GTA service charged is Rs.50,000.00
Less: Abatement @ 70% Rs.35,000.00
Taxable value Rs.15,000.00
Service Tax on above @14% Rs.2,100.00
Tuesday, 3 March 2015
REGISTRATION UNDER SERVICE TAX MADE MORE COMPLICATED
The Central Board of Excise and Customs vide ORDER No. 1/2015-SERVICE TAX specifies the documentation, time limits and procedure with respect to filing of registration applications for single premises, which shall come into effect from 1-3-2015. This is in supercession of Order No. 2/2011-Service Tax dated 13-12-2011.
https://drive.google.com/file/d/0B1rRav-P4-8JTG5leE80ZDNDS28/view?usp=sharing
https://drive.google.com/file/d/0B1rRav-P4-8JTG5leE80ZDNDS28/view?usp=sharing
Wednesday, 28 January 2015
CBEC to curb practice of its officers of issuing Excise/ST summons in casual manner
SECTION 14 OF THE
CENTRAL EXCISE ACT, 1944 - POWER TO SUMMON PERSONS TO GIVE EVIDENCE AND PRODUCE
DOCUMENTS IN INQUIRIES UNDER THIS ACT - INSTRUCTIONS FOR ISSUE OF SUMMONS IN
CENTRAL EXCISE AND SERVICE TAX MATTERS
INSTRUCTION [F.NO.
207/07/2014-CX-6], DATED 20-1-2015
https://drive.google.com/file/d/0B1rRav-P4-8JVEZ0WlBqOGQ1OVU/view?usp=sharing
Thursday, 16 October 2014
REORGANIZATION OF CENTRAL EXCISE AND SERVICE TAX DIVISIONS WITHIN SURAT-II COMMISSIONERATE
Jurisdiction of Central Excise and Service Tax divisions with in Commissionerate of Central Excise and Service Tax, Surat -II is reorganized into three Central Excise divisions and two exclusive Service Tax divisions. Jurisdictions of the Ranges of each of the division of Commissionerate of Central Excise and Service Tax Surat - II is reorganized as well.
Central Excise Ranges and Divisions will have jurisdiction over both Central Excise and Service Tax assessees except where the exclusive jurisdiction of the Service Tax Division and Range for Service Tax has been specified.
Many areas which were within the jurisdiction of Surat-I Commissionerate are now covered under the jurisdiction of Surat-II Commissionerate.
In this regard, office of the Chief Commissioner Central Excise, Customs & Service Tax, Vadodara Zone has issued a Trade Notice No. 5/2014, dated 09/10/2014, consequent to Notification No. 27/2014 CE (NT) and 20/2014 ST, both dated 16/09/2014.
Trade Notice No. 05/2014
https://drive.google.com/file/d/0B1rRav-P4-8JTGY4ZTdKYTNoQU0/view?usp=sharing
Notification No.27/2014-CE (NT), dated 16/09/2014
http://www.cbec.gov.in/excise/cx-act/notfns-2014/cx-nt2014/cent27-2014.pdf
Notification No.20/2014-ST, dated 16/09/2014
http://www.servicetax.gov.in/st-notfns-home.htm
Friday, 11 July 2014
SERVICE TAX ON EDUCATIONAL INSTITUTIONS
Amendment in taxable service by
Education Institution vide Notification No.06/2014 - Service Tax, Dated 11July,
2014
Read More:https://drive.google.com/file/d/0B3dVi3eBp2ZCT0N3RDNickhkTEk/edit?usp=sharing
Friday, 12 April 2013
Service Tax return filing date extended
ST-3 Return filing date once again extended, order no.02/2013-Service Tax, dated 12th April, 2013.
The date of submission of the Form ST-3 for the period from 1st July 2012 to 30th September 2012, has been extended from 15th April, 2013 to 30th April, 2013.
The date of submission of the Form ST-3 for the period from 1st July 2012 to 30th September 2012, has been extended from 15th April, 2013 to 30th April, 2013.
Service Tax Rules Amended
Service Tax Rules have been amended, the rules may be called the Service Tax (Second Amendment) Rules, 2013. They shall come into force on and from the 1st day of June, 2013. The amendment is with respect to Form No. S.T.-5, S.T.-6 and S.T.-7.
https://docs.google.com/file/d/0B3dVi3eBp2ZCZjZsX0lFSHJzaFE/edit?usp=sharing
https://docs.google.com/file/d/0B3dVi3eBp2ZCZjZsX0lFSHJzaFE/edit?usp=sharing
Saturday, 9 March 2013
Last date for filing ST-3 extended
- Central Board of Excise & Customs hereby extends the date of submission of the Form ST-3 for the period from 1st July 2012 to 30th September 2012, from 25th March, 2013 to 15th April, 2013.
- The Form ST-3 is expected to be available on ACES around 20th March, 2013.
Monday, 25 February 2013
SERVICE TAX (AMENDMENT) RULES, 2013 - AMENDMENT IN RULE 7 AND SUBSTITUTION OF FORM ST-3
A new ST- 3 form has been substituted vide notification no. 01/2013-ST, Dt. 22-2-2013, but care has not been taken to amend www.aces.gov.in, neither the online version of ST- 3 return is available nor is the Excel utility on the website to file the return.
When the Budget 2012 was announced, government had proposed a single return for Central Excise and Service Tax and that proposed return was supposed to be a small 2 page simple return. However the new ST- 3 is more than 10 pages and it is more complex than the previous ST- 3.
In this new return assessee is required to categorize the service under which taxable values are received.The confusion for classification is on the assessee. If the service provider chooses not to classify its service and submits entire data under only ‘other than negative list’ then the department can create issue at the service receiver’s end and may deny the credit altogether.
Assessee is liable to pay service tax and identify that payment is done in what capacity. As a –
(i) Service Provider
(ii) Service Receiver under Section 68(2),
(iii) Service Provider under partial reverse charge under proviso to Section 68(2),
(iv) A Service Receiver under partial reverse charge under proviso to Section 68(2),
(v) If covered by (iii) above, then the percentage of service tax Payable as provider of service,
(vi) If covered by (iv) above, then the percentage of service tax Payable as recipient of service.
If any payment is made for Research and Development Cess, the same should be shown in the Service Tax Return.
If Service Tax payable on account of tax payment on receipt basis, which is applicable to individuals and partnership firms whose aggregate value of taxable services during previous financial year was less than or equal to rupees 50 Lakhs as per third proviso to Rule 6(1) of Service Tax Rules, 1994, it has to be shown in separately.
HIGHLIGHTS OF "NOTIFICATION NO. 01/2013-ST, DATED 22-2-2013"
- A new ST-3 form with the existing form; and
- The Form ST- 3 for the period between the 1st day of July 2012 to the 30th day of September 2012, shall be submitted by the 25th day of March, 2013
A new ST- 3 form has been substituted vide notification no. 01/2013-ST, Dt. 22-2-2013, but care has not been taken to amend www.aces.gov.in, neither the online version of ST- 3 return is available nor is the Excel utility on the website to file the return.
When the Budget 2012 was announced, government had proposed a single return for Central Excise and Service Tax and that proposed return was supposed to be a small 2 page simple return. However the new ST- 3 is more than 10 pages and it is more complex than the previous ST- 3.
In this new return assessee is required to categorize the service under which taxable values are received.The confusion for classification is on the assessee. If the service provider chooses not to classify its service and submits entire data under only ‘other than negative list’ then the department can create issue at the service receiver’s end and may deny the credit altogether.
Assessee is liable to pay service tax and identify that payment is done in what capacity. As a –
(i) Service Provider
(ii) Service Receiver under Section 68(2),
(iii) Service Provider under partial reverse charge under proviso to Section 68(2),
(iv) A Service Receiver under partial reverse charge under proviso to Section 68(2),
(v) If covered by (iii) above, then the percentage of service tax Payable as provider of service,
(vi) If covered by (iv) above, then the percentage of service tax Payable as recipient of service.
If any payment is made for Research and Development Cess, the same should be shown in the Service Tax Return.
If Service Tax payable on account of tax payment on receipt basis, which is applicable to individuals and partnership firms whose aggregate value of taxable services during previous financial year was less than or equal to rupees 50 Lakhs as per third proviso to Rule 6(1) of Service Tax Rules, 1994, it has to be shown in separately.
HIGHLIGHTS OF "NOTIFICATION NO. 01/2013-ST, DATED 22-2-2013"
- A new ST-3 form with the existing form; and
- The Form ST- 3 for the period between the 1st day of July 2012 to the 30th day of September 2012, shall be submitted by the 25th day of March, 2013
Wednesday, 5 December 2012
SERVICE TAX (FIFTH AMENDMENT) RULES, 2012
SERVICE TAX (FIFTH AMENDMENT) RULES, 2012 - AMENDMENT IN FORM ST-1 AND
INSERTION OF ANNEXURE AFTER ACKNOWLEDGEMENT
NOTIFICATION NO. 48/2012-ST [F.NO.
137/22/2012-ST]/GSR 858 (E), DATED 5-12-2012
https://docs.google.com/document/d/18MHqe39ubPBR9xQ5scmRYFVz5aYwIZadFN0twPqhyhc/edit
Wednesday, 28 November 2012
Monday, 15 October 2012
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