201602.29
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Retrospective effect to notification No. 01/2016- ST

Notification No. 41/2012- ST, dated the 29th June, 2012 is amended with retrospective effect through  notification No.1/2016-ST dated 3rd February, 2016 . It is being done so as to allow refund of service tax on services used beyond the factory or any other place or premises of production or manufacture of the said goods, for export…

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Budget 2016 -Reduce litigation and providing certainty in taxation

Budget 2016 -Reduce litigation and providing certainty in taxation An Indirect tax Dispute Resolution Scheme, 2016, being introduced wherein in respect of cases pending before Commissioner (Appeals), the assesse, after paying the duty, interest and penalty equivalent to 25% of penalty imposed, can file a declaration. The proceedings against the assessee will be closed and…

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Changes in Customs Act,1962, In Budget 2016-2017

The Union Budget 2016-2017 has brought the following Changes  in Customs Act, 1962 : a.Warehousing provisions are being simplified so as to move from physical control to record based control in most of cases. Several other consequential changes are also being made. b.Section 25 of the Customs Act, 1962 being amended 80 also omit the requirement…

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Changes in Finance Act,1994, In Budget 2016-2017

The Union Budget 2016-2017 has proposed the enhanced period for demand of service tax in case it is not paid or short paid, for normal period ,without suppression of facts from 18 months to 30 months for short levy/non levy/short payment/non-payment/erroneous refund of service tax, with effect from date of enforcement of Finance Bill, 2016.

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Service Tax Levy From 01.04.2016 For Services Rendered By Govt Or Local Body

Finally , it has been notified by Notification No.06/2016-S.T that service tax shall be levied with effect from 01.04.2016 on  Services Rendered By Govt or Local Body /Authority to any Business Entity . GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 18th February, 2016 Notification No. 06/2016-Service Tax G.S.R.___ (E). –  In exercise of the…

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Service Tax Rate To Increase in Budget 2016

AMLEGALS before 2015  budget , hinted that an increase in the  rate of service tax is on the card and also hinted for further revision in mid of 2015 and both the times the service tax rate was increased . In this budget of 2016-2017,we are again predicting an increase in service tax rate .This time…

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Expect Relaxations In Tax Liability For Startups-Budget 2016

Budget 2016 shall bring various relaxations for startups in different business areas  , and more particularly in E-commerce ,in India.Because ,if we cherish for “Make in India” then it is the startups which have to be boosted. AMLEGALS expect the following relaxations for startups to make them stand before they contribute in the process of “Make in India”.: a.relaxations…