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Service Tax

Service Tax Provisions of Finance Bill 2010 Explained by Department

March 11, 2010

The Finance Minister has introduced the Finance Bill, 2010, in the Lok Sabha on 26th February 2010. Clause 75 and 76 of the said Bill covers the legislative changes relating to Chapter V of the Finance Act, 1994 (i.e. Service Tax). While some fresh exemptions from service tax have been granted, some existing exemptions have [...]

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New Eight Services Added under Service Tax

March 10, 2010

Finance Bill 2010 has introduced eight new services to charge service tax. These 8 New services Added in Service Tax Net ( Tax will come in force from the date to be Notified). The following are the list of services introduced in Finance Bill 2010. You can see the highlights of Budget 2010 related [...]

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CBEC Reduces Quantum of Service Tax for e-filing of Return

March 7, 2010

CBEC Reduces Quantum of Service Tax for e-filing of Return from 50 Lacs to 10 lacs as per notification given below.

NOTIFICATION NO 01/2010–ST. Dated: February 19, 2010
In exercise of the powers conferred by sub-sections (1) and (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following [...]

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Service Tax Circular – Irregular Availment of Cenvat Credit on Certain Activities not Amounting to Manufacture

January 17, 2010

Service Tax Circular:
Irregular availment of Cenvat credit on certain activities not amounting to manufacture

Circular No. 911/01/2010-CX, dated 14-1-2010
Reference has been received from field formations stating that though certain activities including connectorising, testing, repacking and relabeling of feeder cables, cutting of HR/CR coils into sheets or slitting into strips do not amount to manufacture, such [...]

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Service Tax on Transportation of Goods by Railway – Amendment in Notification Dated : 31-08-2009

September 1, 2009

NOTIFICATION No. 29/2009 – Service Tax, Dated: August 31, 2009
In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification [...]

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Only Legal firms are Comes under Service Tax not Independent Practicing Lawyers : BCI

August 27, 2009

The service tax introduced for lawyers in this year’s budget is applicable only to legal firms and not to independent practicing lawyers cleared by The Bar Council of India (BCI).
Only law firms will have to pay the service tax and not individual lawyers. Although the service tax will have to be paid only by law [...]

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Changes in Service Tax | Budget 2009-10

July 6, 2009

There are no major changes in service tax after union budget 2009. Some are new service has introduced in this budget.

New Services has been levied on following services:

Transportation of goods through Railways, including government railways.
Transport of coastal goods, and transport through inland waters.
Legal Consultancy Services, except services provided by an individual or to an [...]

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Service Tax Rates Chart

June 28, 2009

Chart Showing Service Tax Rates Chart from 16-07-2001

Effective Dates
Service Tax Rate
Education Cess
Secondary and Higher Education Cess
Total

16-07-2001 to 13-05-2003
5%
NIL
NIL
5%

14-5-2003 to 09-09-2004
8%
NIL
NIL
8%

10-09-2004 to 17-04-2006
10%
2%
NIL
10.2%

18-04-2006 to 11-05-2007
12%
2%
NIL
12.24%

12-05-2007 to 23-02-2009
12%
2%
1%
12.36%

24-02-2009 onwards
10%
2%
1%
10.30%

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Service Tax on Builders

June 28, 2009

Construction of residential complex was brought under service tax net w.e.f. 01.06.2005.
Definition / Scope:
Any service provided or to be provided to any person, by any other person, in relation to construction of complex. [Section 65 (105) (zzzh)]
Value of taxable service:It shall be the gross amount charged by the service provider for such service provided or [...]

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Penalty Provisions Under Service Tax

June 27, 2009

Chart Showing Penalty Provision Under Service Tax

S. No.

Section

Nature of default

Minimum Penalty

Maximum Penalty

1

76

Failure to pay service tax:

2% per month (on prorata basis) or Rs. 200/- per day which ever is higher

Amount of Service Tax

2

77

Failure to Get Registered

Rs. 5000/-

Rs. 5000/- or Rs. 200/- per day, whichever is higher

Fails to keep, maintain or retain books of account

Rs. 5000/-

Failure [...]

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Service Tax Return efiling | Complete Guide

June 27, 2009

Q.1 What is e filing ? A.1 E filing is a facility for the electronic filing of Service tax returns by the assesse from his office, residence or any other place of choice, through the Internet, by using a computer. The assesse can go to the e filing site `Home Page’ by [...]

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How to Treat Service Tax in Tally9 or Tally.erp

May 15, 2009

Service tax integrated in Tally 9 takes care of your service tax transactions. It eliminates error-prone information, incorrect remittance, penalties, interests, compliance issues, etc. Service Tax in Tally 9 needs a one-time configuration for service tax features to be activated.

Tally tracks bill-wise (bill-by-bill) detail and automatically calculates service tax payable and input credit with the [...]

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New Service Tax Return Form ST-3 | Format of ST-3 | Changed ST-3

March 21, 2009

Service Tax (Amendment) Rules, 2009 – Amendment in Form ST-3
Notification No. 10/2009-ST, dated 17-3-2009
In exercise of the powers conferred by section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994 namely : -
1. (1) These rules may be called [...]

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Document Required for Service Tax Registration

March 10, 2009

To get the Service tax Registration followings documents are required:For Local/Single Registration

Copy of PAN Card of the assessee.
Proof of address of the premises to be registered. Copy of Telephone bill/Electricity bill/Rent agreement in the name of the company/firm/partner/proprietor
Partnership deed (In case of Partnership Firm)
Copy of Memorendum [...]

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Applicability, Implication and Effective Date of Reduced Service Tax

February 26, 2009

Applicability, Implication, and Effective Date of Reduced Service Tax and Excise Duty is from 24/02/2009.Notification of Service TaxNotification of Excise Duty

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Notification of Service Tax Reduced to 10% from 12%

February 25, 2009

SERVICE TAX REDUCED TO 10 % FROM 12 %FULL NOTIFICATION
SECTION 93 OF THE FINANCE ACT, 1994 – POWER TO GRANT EXEMPTION FROM SERVICE TAX – REDUCTION OF RATE OF SERVICE TAX ON TAXABLE SERVICES AS SPECIFIED IN SECTION 65(105)
NOTIFICATION NO. 8 /2009, – SERVICE TAX, DATED 24-2-2009In exercise of the powers conferred by sub-section (1) [...]

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