201502.28
0
0

Proposed Penal Provisions for Service Tax In Finance Bill 2015- Part -I

At par with the penal  provisions in proposed  Section 11AC for excise  , service tax penalty provisions have  also been proposed for substitution via Finance Bill 2015 . Section 76 to deal with evasion of service tax without fraud or collusion or willful misstatement or suppression of facts . It is pertinent to refer to proposed Section…

201502.28
0
0

Indirect Tax Changes -Budget 2015-2016

Change in Rate Central Excise duty to be rounded off to 12.5 % (from 12.36 %) Service tax to be increased from 12.36 % to 14 %. Date of levy of new rate shall be notified after enactment of Finance Bill 2015 Procedure Changes Online Excise and Service Tax registrations in 2 days Digital invoices…