Service Tax, Service Tax Law, Service Taxes

Thursday | 23 May 2013

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Investments out of receipts to be disclosed in return due to be filed couldn’t be an undisclosed income
Overseas principal can set-up services for cross border money transfer to India - RBI
Cenvat credit to be reversed on capital goods used for private purposes on closure of business
Mere rejection of books of account doesn't mean compulsorily additions to returned income
ITAT quashed additions for cash credit as assessee proved identity and creditworthiness of her creditors
Profit accruing to FIIs from hedging against forex fluctuation is taxable as capital gain
Hiring of buses does not amount to ‘rent-a-cab’ service
‘Processing fees’ and ‘penal interest’ received by financial corp. are eligible for sec. 36(1)(viii) deduction
Sec. 54F benefit allowable for sum invested from other sources and actual consideration if sec. 50C is applicable
Procurement of an order for clients is covered under ‘Business Auxiliary Services’
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
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

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

23-05-2013

ST/ECJ : In case of capital goods used for private purpose on closure of business, credit reversal is required only if credit was taken on such capital...

Procurement of an order for clients is covered under ‘Business Auxiliary Services’

23-05-2013

ST : Procurement of purchase orders for various products of client, maintenance of effective follow-up and undertaking of any promotional/ marketing...

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

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

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

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

Hiring of buses does not amount to ‘rent-a-cab’ service

23-05-2013

ST : Hiring of buses to State Road Transport Corporation for being plied as public transport system does not, prima facie, amount to 'rent-a-cab' services

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...