30 August 2012
Dear Sir I want to know the Notification/circular which is arise from 01.07.2012 for deposit of Service Tax. what are changing in deposit service tax for the Current period 01.07.2012 to 30.09.2012. regarding 40% or 60% ?
30 August 2012
Changes: 1) One accounting code for all taxable services 2) Negative list and mega notification for various exempted services. 3) New Abatement for 12 services. 4) Place of provision rules amended 5) Point of taxation rules changed 6) Reverse charge mechanism for 10 services 7) cenvat credit rules amended especially for capital goods. 8) Taxable territory defined 9) Works contract -composition rate abolished 10) lot of old notifications cancelled. Please log on to CBEC and see all the notifications issued during June 12, July 12 & August 12.
CAclubindia
