Interest on Service Tax Delayed Payment Calculator

CALCULATOR for Interest on Service Tax Delayed Payment (w.e.f. 01.10.2014) E.g. Format:Turnover during the Previous Financial Year 8,14,96,170.00 Concession of 3% in rate of interest applicable or not (Provision to Section 75 of the Finance Act, 1994) NO Service tax payable 79,351.00 Due date of payment 12-Feb-2015 Actual date of payment 10-Apr-2016 Total period of … Read more

Date wise Applicability of Service Tax Provision of Finance Bill, 2016

Changes Applicable from – 01.03.20161. Restoration of exemption on services provided to the Government, a localauthority or a governmental authority. 2. Restoration of exemption on services to an airport and port. 3. Withdrawal of exemption on services to monorail or metro, in respect ofcontracts entered into on or before 01.03.2016 4. Exemption to services by … Read more

History of Service Tax Rates

History of Service Tax Rates in India 1994 to 2016 Period 01-Jul-94 13-May-03 Service Tax Rates 5% Edu. Cess                 0% Higher Edu. Cess 0% Swachh Bharat Cess 0.00% Krishi Kalyan Cess 0.00% Effective Levy         5.00%Period 14-May-03 09-Sep-04 Service Tax Rates 8% Edu. Cess     … Read more

Important Changes in Service Tax Proposed by Budget 2016-27

A. Changes in Finance Act, 19941. Amendments in the Negative List (Section 66D)– Entry No. (l) – covering specified educational services is proposed to be omitted. Consequently, the definition of “approved vocational education course” [Section 65B (11)] is also proposed to be omitted. [To be effective from the date of enactment of Finance Bill, 2016] Entry … Read more

Swachh Bharat Cess paid on specified services used in an SEZ

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 02/2016-Service Tax New Delhi, the 3rd February, 2016 G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), read with sub-section (5) of section 119 of the Finance Act, 2015 (20 of 2015), the Central Government, being satisfied that it is necessary … Read more