As a general rule in service tax regime, the person who is receiving services (popularly known as service receiver or the service recipient) pays the service tax to the person who provides services (also known as service provider) and in turn, the same is remitted to the governmental authorities (as result of which these taxes … Continue reading REVERSE CHARGE MECHANISM
The CBEC vide Circular No. 184/3/2015-ST dated June 3, 2015 has clarified that Budget, 2015 has not made any change in abatement for determining valuation of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, having the facility of air-conditioning or central air-heating in any part … Continue reading SERVICE TAX ON RESTAURANT, EATING JOINT OR A MESS, HAVING THE FACILITY OF AIR CONDITIONING OR CENTRAL AIR HEATING
The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary & Higher Secondary Education cess. Till now, the Rate of Service Tax will Remain the same i.e. 12.36%. Further, a new Chapter VI has also been inserted in the Finance Bill, … Continue reading Untill The Parliament Passes The Finance Bill, Service Tax to stay at 12%….