Service Tax, Service Tax Law, Service Taxes

Wednesday | 22 May 2013

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OECD revised section E on safe harbour rules
Revised OECD Guidelines On Safe Harbour Rules
Registration of a trust was not to be denied as it was not covered in prohibition list of Sec. 13
CBDT initiative – Issues a booklet to educate taxpayers on appellate proceedings
No reassessment could be initiated after 4 years merely on basis of retro amendment to law
Gain on sale of shares is subject to capital gain only if these shares aren’t tradable like other trading assets
Court has no power u/s 392(1)(b) to modify the basic fabric of the sanctioned scheme
Clarification on revised requirements for stock exchanges and listed Cos. undertaking schemes of arrangements
SEBI provides for mandatory audit of algorithmic trading system after every six months
Actual date of purchase of shares and not its date of dematerialization is relevant to reckon period of holding
Repair or restoration of goods belonging to customer amounts to 'job-work services'
Activity of galvanization of MS pipes isn't manufacture to claim sec. 80-I benefit
Payment of royalty to get exclusive manufacturing rights is allowable as revenue exp.
International transactions are at ALP if sharing of profits in equal ratio by assessee with its AE is justified
Obligation to frame Code of Conduct to prevent ‘insider trading’ is sacrosanct; its violation invites penalty
Sum paid to the other party to the agreement even on its refusal to honour the agreement is not an allowable exp.
Deliberate non-payment of ST warrants invocation of extended period to recover ST dues

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Repair or restoration of goods belonging to customer amounts to 'job-work services'

22-05-2013

ST/ECJ : Repairs, even if radical, which simply restore customer's article to its original function without resulting in creation of a new article do not...

Electricity charge recovered from tenant not includible in rent from letting out of an immovable property

21-05-2013

ST : Electricity charges, towards electricity consumed by tenant, recovered on actual basis by landlord are not includible in value of renting of...

Refund of ST paid under protest can be claimed within one year from the date of settlement of dispute

20-05-2013

ST : Hire Purchase Finance is not covered under service tax levy under Banking and other Financial Services.

Pre-deposit order may be modified in view of subsequent decision in favour of assessee

Developers are liable for ST on activity of development of residential complex through contractors

Time-limit for refund of ST to be determined from the date of filing of refund claim

Belated appeal can’t be rejected without considering reasons behind such delay

Matter remanded as demand was confirmed without considering docs produced by assessee

Speed post isn't valid mode of service as law requires registered post with acknowledgement due

Credit to be allowed for ‘rent-a-cab’ service availed by employees for official tours

Deliberate non-payment of ST warrants invocation of extended period to recover ST dues

22-05-2013

ST : Collection of amounts by mentioning same on reverse side and not paying service tax thereon amounts to mis-declaration of value and suppression of...

Provision of free transport provided to employees for business purposes doesn't amount to a service

21-05-2013

ST/ECJ : Provision of free transport facility to employees for business purposes cannot be regarded as 'service' because work done and wages received are...

Cenvat credit taken on goods used for private purposes needs to be reversed

20-05-2013

ST/ECJ : In case credit is taken on goods and services used for maintenance, etc., of non-cenvatted capital goods used partially for private purposes,...

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