Daily Archives: November 23, 2015

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 »

Service Tax Return

By | November 23, 2015

Every assessee is required to submit a half yearly return in form S.T.3 or S.T.3A (in triplicate) along with proof of payment of tax. For the purpose of filing returns half year is counted from April to September and October to March. In case the assessee has opted for provisional payment of service tax, he… Read More »

Service Tax Registration Procedure

By | November 23, 2015

SIMPLIFIED REGISTRATION PROCEDURE Service Tax Registration. Section 69 of the Finance Act, 1994 [(1)] Every person liable to pay the service tax under this Chapter or the rules made thereunder shall, within such time and in such manner and in such form as may be prescribed, make an application for registrationto the [Superintendent of Central Excise]. [(2)… Read More »

What is Swachh Bharat Cess

By | November 23, 2015

SWACHH BHARAT CESS (SBC) FREQUENTLY ASKED QUESTIONS (FAQ) Background: Chapter VI (Section 119) of the Finance Act 2015 contains provisions for levy and collection of Swachh Bharat Cess (SBC). Now the Government has announced 15th November, 2015 as the date from which the provisions of Section 119 would come into effect (notification No.21/2015-Service Tax, dated… Read More »

Auction for Sale (Re-Issue) of Government Stock

By | November 23, 2015

Ministry of Finance of Govt of India on 23-November, 2015 Auction for Sale (Re-Issue) of Government Stock Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of Rs. 2,000 crore (nominal) through price based auction, (ii) “7.72 per cent Government Stock 2025” for a… Read More »

Mizoram to be developed as ‘ bamboo State ’

By | November 23, 2015

Ministry for Development of North-East Region of Govt of India 23-November, 2015 Mizoram to be developed as ‘ bamboo State ’: Dr.Jitendra Singh Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh addressing a press conference at Aizawl,… Read More »

Time limit for establishing ‘ Central KYC Records Registry ‘ Extended to 180 days

By | November 23, 2015

PREVENTION OF MONEY-LAUNDERING (MAINTENANCE OF RECORDS) FOURTH AMENDMENT RULES, 2015 – AMENDMENT IN RULE 9A NOTIFICATION NO. GSR 882(E) [NO.8/2015 (P.12011/15/2011-S.O. (ES CELL)], DATED 18-11-2015 In exercise of the powers conferred by sub-section (1) read with clauses (i), (j), (jj), (jjj) and (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act,… Read More »

MCA Released new Form MGT 7

By | November 23, 2015

COMPANIES (MANAGEMENT AND ADMINISTRATION) THIRD AMENDMENT RULES, 2015 – SUBSTITUTION OF FORM MGT 7 NOTIFICATION [F.NO.01/34/2013-CL-V-PART-I], DATED 16-11-2015 In exercise of the powers conferred under sub-sections (2) and (3) of section 92 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the… Read More »