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.
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...
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...
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...
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...