Tag Archives: Service Tax

Abbreviations commonly used in Customs, Central Excise and Service Tax

By | October 22, 2016

Abbreviations commonly used in Customs, Central Excise and Service Tax INDEX A B C D E F G H I J L M N O P R S T U V W A AAI :- Airport Authority of India AAR :- Authority for Advance Ruling AC/DC  :-Assistant Commissioner/Deputy Commissioner ACAO  :-Assistant Chief Account Officer ACES… Read More »

CAG Compliance Audit Report of Service Tax

By | March 16, 2016

CAG has releases it Report No. 1 of 2016 (Indirect Taxes – Service Tax) for the Financial Year 2014-15 on compliance audit of the Central Board of Excise and Customs under Department of Revenue – Indirect Taxes (Service Tax) of the Union Government. The Service Tax collection was Rs 1, 67,969 crore during financial year 2014-15 (FY15)… Read More »

What is Service Tax

By | November 23, 2015

What is Service Tax ? Service tax is, as the name suggests, a tax on Services. It is a tax levied on the transaction of certain services specified by the Central Government under the Finance Act, 1994. It is an indirect tax (akin to Excise Duty or Sales Tax) which means that normally, the service… Read More »