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Category Archives: TAX NEWS

Clarification on Payment of Service Tax in Transitional Period

Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017. It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service

Due date of filling of income tax return extended

New Delhi: In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017. The official twitter handle  twitted this after various request and user. In view of the difficulties faced by taxpayers,

Budget 2017 key and major highlights

Major Highlights of Union Budget 2017: Download India Budget 2017 Key Highlights  1. Total Budget of ? 21.47 Lakhs crores for 2017-2018. 2. Increase in Direct Tax collection by 34% after demonetisation. 3. Holding period for LTCG for Land & Building reduced to 2 years.

Not mandatory to pay service charge in restaurant bill: Government

New Delhi: The Department of Consumer Affairs on Monday said that restaurants billing ‘service charges’ in addition to taxes is optional and  the consumer has discretion to pay ‘service charge’ or not. Customers dissatisfied with service at any hotel or restaurant can opt to seek that

Krishi Kalyan Cess 0.5%- Additional from 1 June 2016 on services

New Delhi:- During Budget speech,2016 hon’able  finance minister Mr. Arun Jaitley proposed Krishi Kalyan Cess on services. Now from 1 June 2016 it is effective. “I propose to impose a cess called Krishi Kalyan Cess at 0.5 per cent on all taxable services, the proceeds

Due Date of Service Tax Return Extend

NEW Delhi: 25/04/2016 After  the difficulties faced by service tax payers. Ministry of finance finally announced the extension of due date return for the period of Oct 2015- March 2016 from 25/04/2016 to 29/04/2016. The announcement was made through tweet by the ministry:-

SERVICE TAX-ACES SERVER DOWN

New Delhi: The last date of filing of Service Tax return for half year ended oct 2015 to dec 2016 is on 25/April/2016. However 3 days before the last date ACES server seems to crashing down. This seems due to heavy traffic on the server.