Service Tax, Service Tax Law, Service Taxes

Saturday | 25 May 2013

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Method of ‘Discounted cash flow’ can be used for share valuation if other methods of sec. 92C aren’t applicable
Educational institute can publishes magazines to pursue its objects
No penalty leviable if ST is paid before issuance of SCN and there is no suppression of facts by assessee
No sec. 14A disallowance if interest free funds outpace tax free investments
Credit isn’t available on canteen services to the extent exp. is recovered from employees
No concealment penalty if capital gains offered by assessee were treated as business profits by AO
Services provided by data handling centre to banks are liable to service tax
Services availed for market research and customer’s credit rating are eligible for input credit
Additions for undisclosed investment merely because a land in vicinity fetched higher price was untenable
IRDA issues guidelines for Indian insurance companies seeking to open offices outside India
CBDT notifies “Gujarat Energy Research and Management Institute” as ‘Scientific Research Association’
CBDT notifies “Centre for DNA fingerprinting and Diagnostics” as ‘Scientific Research Association’
Requirements to furnish hard copies of data of ‘Liberalized Remittance Scheme’ dispensed with for banks - RBI
Royalty from one non-resident to another is not taxable in india - Source of royalty is where patent is exploited
SC puts the brakes on companies defrauding investors by prolonged litigation challenging vires of investor protection laws
Sec. 10B requires assessee to prove his eligibility in initial year of production and not in every year of claim
Readjudication, if AO fails to follow Tribunal's direction to determine TDS rate on payment made to non-resident

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No penalty leviable if ST is paid before issuance of SCN and there is no suppression of facts by assessee

25-05-2013

ST : Where service tax along with interest is paid before issuance of show-cause notice and charge of suppression/intent to evade payment of service tax...

Services provided by data handling centre to banks are liable to service tax

25-05-2013

ST/ECJ : I. Services relating to transfers of funds, advice on securities and management of deposits/purchase contracts/loans provided by data handling...

Appeal to be restored if predeposits were delayed due to questioning by assessee of such requirements

25-05-2013

ST : Where assessee questions very requirement of pre-deposit condition imposed by Tribunal and, after losing such battle, makes pre-deposit years after...

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

Explanations to sec. 65(105)(zzq) and 65(105)(zzzh) are constitutionally valid

Evasion penalty under sec. 78 was not imposable if there was reasonable cause for non-payment of ST

Time-limit under sec. 11B for claiming ST refund isn’t applicable if ST is paid under protest

Pre-deposit requirement to be waived off in case of inconsistent stand of revenue to levy service-tax

Cenvat credit to be reversed on capital goods used for private purposes on closure of business

Bundled services under Negative Service Tax Regime

Credit isn’t available on canteen services to the extent exp. is recovered from employees

25-05-2013

ST : Assessee is entitled to avail CENVAT Credit on inputs services in nature of expenses incurred on outdoor catering for canteen, but, credit will not...

Services availed for market research and customer’s credit rating are eligible for input credit

25-05-2013

ST : Management consultancy service relating to conduct of 'market research' and customers 'credit rating' in international market to improve their market...

Penalty not to be imposed if credit reversed by assessee was admissible

24-05-2013

ST : When there are decisions taking a view that services for maintenance of windmill are eligible for input service credit, no penalty could be levied...