 "What is Service Tax")
Service Tax
What is Service Tax
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Latest Updates on Service Tax
SC rules on service tax on corporate guarantees, gives pvt firm relief
No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says
 "SC rules on service tax on corporate guarantees, gives pvt firm relief")
Settlement Commission looks to raise awareness through FAQs
Where the taxpayers are doubtful on whether they will be penalized, it makes sense to opt for settlement and get a quick closure. For them, the latest FAQs give a quick initiation
No service tax on takeaway food items sold by restaurants: CESTAT
The CESTAT bench ruled that service tax cannot be levied on takeaway/ parcel food items sold by restaurants while hearing the pleas filed by Haldiram Marketing Pvt Ltd
 "No service tax on takeaway food items sold by restaurants: CESTAT")
GST Council meet: The Goose Point Theorem for rate rationalisation
The real issue before taxation lies in identifying the Goose Point and the way goes through 'neutral goods'
Study bats for OECD multilateral approach to tax digital services
Paper by Shardul Amarchand Mangaldas and Jindal Global Law School opposes digital service tax, currently imposed by individual countries, such as equalisation levy by India
 "Study bats for OECD multilateral approach to tax digital services")
Pooled investment funds likely to attract service tax: Check details here
GST on expenses charged by REITs, InvITs and MFs may result in tax levy of hundreds of crores
 "Pooled investment funds likely to attract service tax: Check details here")
BS Number Wise: Tax mop up shines through fragile recovery
Direct-tax-to-GDP ratio in the first quarter of 2021-22 increased to 5.14 per cent, compared with 3.29 per cent over the last two years
 "BS Number Wise: Tax mop up shines through fragile recovery")
Banks may not have to pay service tax for facilitating international trade
To facilitate trade, Indian banks provide services to exporters by sending the export documents to the bank of the importer abroad and collect payment
 "Banks may not have to pay service tax for facilitating international trade")
DGS has to take a call on waiving detention charges
The CBIC has also instructed field formations to make special efforts to dispose of all pending refund and drawback claims through a "special refund and drawback disposal drive"
 "DGS has to take a call on waiving detention charges")
Coronavirus outbreak may delay roll-out of Vivad se Vishwas scheme
Disputes relating to wealth, securities transactions, commodities transaction tax, and the equalisation levy are not covered under the scheme.
 "Coronavirus outbreak may delay roll-out of Vivad se Vishwas scheme")
Panel to take decision within 60-days under tax amnesty scheme: CBIC
The amnesty component offers an opportunity to taxpayers to pay the outstanding tax and be free of any other consequence under the law
 "Panel to take decision within 60-days under tax amnesty scheme: CBIC")
'Service tax and excise duty amnesty scheme comes into effect from Sep 1'
The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 is not yet implemented. It shall come into force with effect from September 1, 2019
 "'Service tax and excise duty amnesty scheme comes into effect from Sep 1'")
Budget impact: Tax on liquor licence fee scrapped retrospectively
Many entities were served notices after the 15% tax was introduced in April 2016
 "Budget impact: Tax on liquor licence fee scrapped retrospectively")
Delhi HC agrees to hear banks' plea against service tax on minimum balance
A total of 13 banks had approached the high court claiming that the government had arbitrarily decided on the service tax
 "Delhi HC agrees to hear banks' plea against service tax on minimum balance")
Total service tax arrears rise to Rs 1.66 trillion in FY18: CAG report
Similarly, in respect of central excise, total arrears increased to Rs 96,496 crore in FY 2017-18 from Rs 84,200 crore in the previous year.
 "Total service tax arrears rise to Rs 1.66 trillion in FY18: CAG report")
Service tax can't be imposed in J&K, says tribunal of pre-GST levy
The case was from the earlier service tax regime, prior to rollout of the current goods and services tax
 "Service tax can't be imposed in J&K, says tribunal of pre-GST levy")
Payment made in revenue sharing deal exempt from service tax
The judgment, issued by an Allahabad HC Bench, will have ramifications on all revenue sharing arrangements, say experts
 "Payment made in revenue sharing deal exempt from service tax")
Wide difference
The chairman of SBI should review the difference in charge
Filing I-T returns under 'presumptive taxation' may lower tax liability
Professionals will need to maintain detailed records if they fall under the ambit of service tax
 "Filing I-T returns under 'presumptive taxation' may lower tax liability")
Government extends service tax return filing date to April 30
As per norms, the returns have to be filed online on www.aces.gov.in
 "Government extends service tax return filing date to April 30")
