Service Tax on works contract

As per section 65B(54) of the Finance Act, 2012, "works contract" means a contract wherein transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods and such contract is for the purpose of carrying out construction, erection, commissioning, … [Read more...]

Abatement chart under service tax

Abatement means reduction or decrease of amount from taxable value of services. Service provider has to pay service tax after arriving at appropriate value of service as per section 67 of Finance Act, 1994 read with the Service Tax (Determination of Value) Rules, 2006. The Government can provide for … [Read more...]

Refund of Service Tax

Section 83 of the Finance Act, 1994 makes certain provisions of the Central Excise Act, 1944 (CEA) applicable to service tax. Section 11B of CEA provides for refund which is also applicable to refunds of service tax. Claim of refund of service tax should be filed in the prescribed format; i.e. in … [Read more...]

Service Tax On Legal Services

Legal Service has been defined in Notification No. 25/2012 dated 20th June 2012 as any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. After reading this definition … [Read more...]

Cenvat Credit related to Service Tax

Every service provider may also a service receiver. Whenever he receives any service, he pays service tax on it to the service provider. Similarly, if he purchases raw materials or capital goods, he pays excise duty on the said goods.This system of taking credit on the tax paid and using the credit … [Read more...]