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

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

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

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

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

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"

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.

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

'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

Budget impact: Tax on liquor licence fee scrapped retrospectively

Many entities were served notices after the 15% tax was introduced in April 2016

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

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.

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

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

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

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

Clarification needed in clarificatory circular

Importers will now be required to pay service tax on inward ocean freight