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Union Budget 2017-18: Indirect Tax Highlights

Omission of “Services by way of carrying out any process amounting to manufacture or production of goods excluding alcoholic liquor for human consumption” from the negative list. However, service tax exemption on such services is being continued by incorporating them in general exemption notification. Services provided by Army, Naval and Air Force Group Insurance Funds by way of life insurance to members of the Army, Navy and Air Force under the Group Insurance Schemes of the Central Government is exempted from service tax. 

Author : BSA Taxation Team
Date : February 1, 2017
Clarification on Services Provided by Government / Local Authority to business entity

In Budget 2016, service provided by Government / local authority to a business entity has been made taxable w.e.f April 1, 2016. Moreover, Assignment by Government of right to use spectrum as well as subsequent transfers of assignment of such right to use has been made taxable. Vide. Circular No. 192/02/2016-Service Tax dated April 13, 2016, Ministry of Finance has issued detailed clarification in this regard. 

Author : BSA Taxation Team
Date : April 14, 2016
Trade facilitation Circulars: Takeaways
In order to further improve the trade-enabling environment, CBEC (vide Circular No. 1016-1019/5/2016-CX) has issued four Central Excise related Circulars. This is in line with CBEC’s assurance to create and maintain a trade environment by not just simplifying, standardizing and harmonizing the trade procedures and formalities, but also by adopting streamlined and transparent policies. 
Author : BSA Taxation Team
Date : March 1, 2016
Union Budget 2016-17 : Indirect Tax Highlights
Imposes Krishi Kalyan Cess on all or any of the taxable services @ 0.5 per cent, with effect from June 1, 2016. Credit of Krishi Kalyan Cess paid on input services to be allowed for payment of the proposed cess on the service provided by a service provider. Education services omitted from Negative list, service tax exemption continued by incorporating them in the general exemption notification. “service of transportation of passengers, with or without accompanied belongings, by a stage carriage” omitted from Negative List, service taxable with effect from June 01, 2016.

Author : BSA Taxation Team
Date : February 29, 2016
CENVAT Credit Rules & Service Tax Refunds Amended in Alignment of Swachh Bharat Cess
On February 3, 2016, Central Govt. (vide. Notification No. 1 & 2/2016 – ST & Notification No. 2/2016-CE) has brought amendments in respect of Service Tax and Swachh Bharat Cess rebates / refunds. Ministry of Finance (FinMin) has also amended CENVAT credit Rules in respect of Swachh Bharat Cess.
Author : BSA Taxation Team
Date : February 10, 2016
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