Category Archives: Service Tax

Service Tax Rate change effective from 1.6.2015

Vide Notification No. 14/2015, the new service tax rate of  14% will be applicable from 1st June 2015 . How will this affect companies billing their clients during the month of May?  There are three parameters here which have to be taken into account: 1. Service... read more

Service Tax Registration Procedure

Step 1. Registration on ACES: a) The user shall first log onto the site and select “Service Tax” option on the left side of the screen. b) He shall then register himself by clicking on “New users to click here to register with ACES” option. On clicking... read more

The New Regime of Service Tax

Service tax is an indirect tax levied on certain taxable services provided by service provider to service recipient. Earlier service tax was levied on those taxable services which were specifically mentioned in the Finance Act,1994. This was called the ‘Positive... read more

FAQs on Reverse Charge Mechanism of Service Tax

Payment of Service Tax under Reverse Charge Mechanism: Where Service tax is payable under Reverse Charge Mechanism, it is to be paid by Cash only. Thus benefit of Cenvat credit cannot be availed of in such a case. But any Service Recipient so liable to pay service tax... read more
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