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| Latest News Views and Stories |
| Point of taxation deferred till 30.6.2011 | | Finance Minister's during the course of Discussion on the Finance Bill 2011-12 in Lok Sabha admitted that certain changes in the relevant provisions are being worked out in the Point of taxation Rules . The said rules were due to come into force from April 1, 2011 and are meant to shift the payment of service tax from only cash basis towards accrual basis. The changes are essential to align the system of payment of taxes between goods and services...more | | |
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| Decoding the various facets of service tax applied on job work | | Outsourcing labour oriented production and processing activities is considered as sensible and appropriate in the current times. This helps one concentrate on the more important tasks ,such as branding and Selling their goods . Thus majority of the large manufacturing units have started getting their goods manufactured , produced or processed by outside agencies popularly known as Job workers...more | | |
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| Recent Important Judgement |
| STO 2010 CESTAT 241 | Cenvat credit: Capital goods :
Appellants were not entitled to Cenvat credit on capital goods received when it was engaged solely in providing the exempted services...more | | |
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| STO 2010 CESTAT 242 | Service Tax: Works Contract Vs. Sale :
The assessee had paid service tax of an amount of Rs.79,454/- under the category of works contract. Assessee had collected from their customers only the sale value of Anodized Aluminium extrusions. Therefore the taxable value of the service rendered was 'nil' during the material period and assessee were eligible for the refund of service tax they had paid during the material period. Stay Application filed by revenue is rejected...more | | |
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| STO 2010 CESTAT 243 | Service Tax: Sub Contract: Non Speaking Order: Matter Remanded Back :
The appellants were sub-contractors and their plea that the main contractor has discharged the service tax liability on the entire service rendered and as sub-contractor, they are not liable to pay service tax was not addressed. The impugned order is a non-speaking order on the point raised by the appellant, resulting it to be set aside and matter is remanded back...more | | |
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