CBEC has extended the due date of filing the ST-3 return for the period Oct-2015 to March-2016, from 25th April 2016 to 29th April 2016. The service tax return filing due date has been extended due to the difficulties faced by Taxpayers due to non-working of ACES website on the due date.To avoid last hour congestion and inconvenience it is always aRead more
Swachh Bharat Cess has been introduced by the Central Government to be levied on all or any of the taxable services at the rate of 0.5% on the value of taxable services. This Cess has been introduced to finance and promote the Swachh Bharat initiatives.The Central Government has notified that Swachh Bharat cess will be applicable from 15th NovembeRead more
Increase in Service Tax rate of 14%The Finance Ministry has announced the increase in Service Tax rate of 14% to be effective from 1st June 2015 vide Notification No. 14/2015 dated 19th May, 2015.The existing Service Tax rate of 12.36% was increased to flat 14% in the Finance Bill 2015.Service tax is a tax levied by Central Government of India on sRead more
The Honorable Finance Minister in his Budget speech has proposed to increase the Service Tax Rate from 12.36% to 14% (Inclusive of Cess) subsuming the cesses.Earlier the Service Tax Rate at 12.36% was applicable on all taxable services from 1st April 2012.The new Service Tax rate shall come into effect on a date to be notified by the Central GovernRead more
Finance Minister Mr. Arun Jaitley has presented today his first full budget for the fiscal year 2015-16, terming it as a growth focused budget, without tripping on the fiscal deficit constraints. The Finance Minister said the GDP growth is expected to accelerate between 8 to 8.5 percent in the fiscal year starting 2015. The highlights of Budget 20Read more
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