Yes. What you heard is correct!! In the endeavour of making India a better place for doing business, CBEC seems to have finally taken up its initiative. CBEC vide circular no 187/6/2015 � Service Tax dated 10/11/2015 has come with a scheme for
DETAILED ANALYSIS OF SWACHH BHARAT CESS ("SBC")The government of India wide Notification has made levy and collection of "Swachh Bharat Cess" (SBC) mandatory from the 15th November 2015. The following are a few questions and a
The Central Board of Excise and Customs have vide Circular No. 1009/16/2015-ST Dated 23-10-2015 issued consolidated guidelines for launching of prosecution under the Central Excise Act, 1944 and the Finance Act, 1994 regarding Service Tax. The detail
Dear Professional Colleague,Swachh Bharat Cess @ 0.5% on value of all taxable services levied from November 15, 2015Pursuing with Mr. Narendra Modi�s Dream of Swachh Bharat, in Union Budget 2015, a provision was made for levying a Swachh Bharat
Finance Act 2015 had provided provision for levy and collection of Swachh Bharat Cess (SBC) under section 119 of the Finance Act, 2015 at a rate not exceeding two percent on the value of services. The levy was to become effective from the date to be
As per the amendment made by Finance Act� 2015, the rate of service tax has been increased from 12.36% to 14% w.e.f. 01.06.2015. In this respect the issue which arise is that �Whether the cenvat credit of education cess which is available
Dear Professional Colleague,Credit of EC & SHEC can be used for payment of Service taxWith the underlying theme of setting the stage for Goods and Services Tax (�GST�), the Union Budget, 2015 had proposed to do away with the Education
Having discussed on the disclosure of availment and utilization of credit in previous two articles, we shall move on to examining applicability of Rule 6 of Cenvat Credit Rules to a service provider and its di
In the previous article, we had discussed regarding availment of credit while filing of ST-3 Return. It has been very encouraging to receive large number of queries on various aspects related to service tax return filing. To continue the series, in t
Tax credit in any value added taxation is the second most important aspect after the levy as it goes to reduce the basic cost. If credits are not available fully, it adds to the cost of the product or service resulting in cascading effect of taxes. I
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