Finance Bill, 2014 enacted into Finance Act, 2014, Date of Enactment 06.08.2014Budget 2014-15 : Sale of space for advertising has been made taxable except for print media.Budget 2014-15 : Radio Taxis are now taxable.Budget 2014-15 : Education : The definition of Auxiliary Education Services has been scraped.Budget 2014-15 : Works Contract : 2 slab rates prescribed in place of earlier 3 slabs.Budget 2014-15 : E-payment of Service tax is being made mandatory with effect from 01.10.2014.Budget 2014-15 : POPS: Definition of intermediary is being amended to include the intermediary of goods in its scope.

Case Laws

Demand: Stay: Export of Services : Proceeds not received in convertible foreign currency: Tribunal prima facie did not get convinced that even if...
Demand: Stay: Club or Association Service: Service of effluent treatment provided to industries under contract/agreement: Pre deposit waived. ...
Demand: Cenvat credit: Stay: Input & Input service used for construction of mall used to discharge liability of service tax on Renting of Immovable Pr...
Demand: Stay: Business Auxiliary Service: Whether service provided to foreign buyer or local vendors: consideration in question was for services rende...
Valuation: Issue regarding non-inclusion of value of free supply of inputs in gross value of discharge of tax is covered by decision of larger bench o...
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Articles & Analysis

Posted on September 24, 2014 By: Team STO

 

New Power Centre – Audit Commissionerates

Cadre restructuring has been done by Central Board of Excise and Customs (CBEC) which is going to be effective from 15.10.2014. New posts of Principal Chief Commissioner and Principal Commissioner has been created to ensure smooth functioning of the department. Further, separate Audit Commissionerates have also been created so as to ensure close watch on the revenue leakages......

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Posted on September 17, 2014 By: Team STO,

 

Service Tax Audit - Wings Clipped

The necessity of audit cannot be undermined in the self-assessment system. To stop the leakage of revenue audit is an important tool in the hands of the Revenue department. In case of Service Tax, as per Rule 5A of Service Tax Rules, 1994 the departmental officer authorised by the Commissioner has access to any premises registered under said rules for the purpose of carrying out any scrutiny, .......

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