Category Archives: Budget
GST – LEVY
Simple explanation to the complex weave of levy under Goods and Services Tax Continue reading
Posted in Budget, Goods and Services Tax, GST, GST Update, Legal
Tagged activity for profit, aspects, Central Goods and Services Tax, CGST, charge, chargeability, Charging section, constitutional, Constitutional Validity, cost, event, expression, expression levy, free, free of cost, goods, Goods and Services Tax, GST, GST Update, Legal, Levy, machinery, machinery provision, mechanism, mutuality, scope of charging section, self, self-service, service, supply, supply of goods, taxable, taxable event, validity, valuation
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TAXATION OF RESIDENT WELFARE ASSOCIATIONS
Scope prior to 1.07.2012 Service tax was levied on club or association w.e.f. 16.06.2005. The definition in section 65(105)(25aa) read as follows: (25aa) “club or association” means any person or body of persons providing services, facilities or advantages, … Continue reading
Posted in Budget, Goods and Services Tax, GST, GST Update, Taxation
Tagged (Rate), 12/2017, 5000, Association, cannot be taxed, CBEC, circular, club or association, CT, exemption, exemption notification, exemption up to 5000, GOI, Government of India, mutuality, no tax, not taxed, notification, Notification No.12/2017-CT (Rate), principle, Principle of Mutuality, Resident, RWA. RWAs, Taxation, taxed, up to, up to 5000, upto, Welfare
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THE NEVERENDING LOOP OF REVERSE CHARGE
Prologue The legislature in the 11 – 12 budget amendments by insertions in Chapter V & VA of the Finance Act, 1994 (FA for short) made effective from 1.7.12 has enforced recommendations of the Kelkar committee i.e. to charge service … Continue reading
Posted in Budget, Import of Service, Service Tax
Tagged 16.08.2002, 1994, @, @12%, activity, applies, Article, background, Chapter, Chapter V & VA, charge, charge under section 66B, charged, charging, Charging section, collected, collected in manner prescribed, collection, consideration, Constitution, Constitution of India, court, crystallized, deeming, deeming fiction, effect, envisage, fiction, Finance Act, golden rule of interpretation, Government, import of service, Indian, Indian territory, inertia, Jammu, Kashmir, Kelkar, Kelkar committee, legislature, negative list, no, no charge on import of service, no link, no service tax, notified, official gazette, place, place of provision of service, prescribed, prior to 18.04.2006, provided, provided or to be provided, provision, rate of tax, receipt of service, Rule 2(1)(d)(iv), rule cannot overide section, rule cannot overide the provisions of the act, section 65B(27), section 66B, section 68, section65B(52), section68(2), service, singular, specified, taxable, taxable territory, Territory, value, value of service
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Budget – A Hoax
Prologue A budget for me would be augmenting revenue by legal means, removal of illegalities in statutes and bring about more clarity in fiscal administration by making the executive accountable. Present Trend However, if one were to see … Continue reading
Posted in Budget, Uncategorized
Tagged Budget, Central Excise, Cenvat Credit Rules, Customs, Service Tax
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anirudhawake 