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What is Service Tax
- Serial number
- Name and address of the service receiver
- Name, address and registration number of the service provider
- Classification, description as well as taxable service value of the service that is rendered
- Payable service tax amount to be mentioned on the invoice
Latest Updates on Service Tax
No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says
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
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
The real issue before taxation lies in identifying the Goose Point and the way goes through 'neutral goods'
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
GST on expenses charged by REITs, InvITs and MFs may result in tax levy of hundreds of crores
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
To facilitate trade, Indian banks provide services to exporters by sending the export documents to the bank of the importer abroad and collect payment
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"
Disputes relating to wealth, securities transactions, commodities transaction tax, and the equalisation levy are not covered under the scheme.
The amnesty component offers an opportunity to taxpayers to pay the outstanding tax and be free of any other consequence under the law
The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 is not yet implemented. It shall come into force with effect from September 1, 2019
Many entities were served notices after the 15% tax was introduced in April 2016
A total of 13 banks had approached the high court claiming that the government had arbitrarily decided on the service tax
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.
The case was from the earlier service tax regime, prior to rollout of the current goods and services tax
The judgment, issued by an Allahabad HC Bench, will have ramifications on all revenue sharing arrangements, say experts
Professionals will need to maintain detailed records if they fall under the ambit of service tax
As per norms, the returns have to be filed online on www.aces.gov.in