On 14.05.2015,The Finance Bill,2015 has been enacted as Finance Act No.20 of 2015. President has given assent to the bill today only.
Rate of Duty & Rate of Service Tax Via GST Q 1 Whether the rate of excise duty and service tax has been increased due to the onset of GST regime ? Answer : Ofcourse , the rate of excise duty and service tax has been increased solely due to GST which will be a reality...
Budget 2015-2016CESTAT & HC Advocates & ConsultantsBudget 2015-Querries & Answers-Part -I
March 2, 20150
Unutilised Credit of CESS Q 1 What will be the fate of credit of Education Cess and Secondary and Higher Education Cess lying unutilized after it being subsumed in basic excise duty ? Answer : Firstly , it will not lapse since no lapsing provision is existing as on date for the same. Secondly , I strongly...
Budget 2015-2016CESTAT & HC Advocates & ConsultantsMandatory Bomb again attacks Indirect Taxes in Budget 2015-2016
March 1, 20150
Onset of Mandatory Era Indirect taxes have finally fallen and infact seems to be more obsessed with the word mandatory . In first and interim budget of Modi Government , first bomb of mandatory aspect fall on all who wanted to exhaust the remedy of appeal . All aspiring appellants who had liability of evasion by...
Budget 2015-2016service tax Litigation & Safeguard in IndiaProposed Penal Provisions for Service Tax In Finance Bill 2015- Part -I
February 28, 20150
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...
Khudos to our digital savy Prime Minister Shri Narendra Modi that finally the Budget 2015-2016 has incorporated the digital signature era in invoicing and records under central excise and service tax . Service Tax Notification No. 5/2015-Service Tax dated 01.03.2015 prescribes the authentication of invoices by digital signature by way of introduction of Rule 4C...
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