Dear All ,
Please find below the “Updates that Matter (UTM # 13)”,
Ø Service Tax: - Notification Dated 25th August, 2014 amends STR Rules, 1994. Ø Service Tax :- Negative List amendments proposed to be effective on 01.10.2014 Ø Cenvat :- The power of issuing measures against misuse of Cenvat by service provider inserted amending Rule 12AAA. | Ø Delhi VAT: - Applicability of Sales tax on Medicines sold by Hospitals to patients. {An Analysis) Ø Haryana VAT: - Department may pursue their appeal security circular vigorously. | Ø ST & Cenvat :- Two Key Alerts for 01.09.2014 (Analysis) Ø Customs: - New Guidelines for exemption u/s 25(2) of Customs Act, 1962. |
a) ST: - Determination of rate of exchange.– The rate of exchange for determination of value of taxable service shall be the applicable rate of exchange as per the generally accepted accounting principles on the date when point of taxation arises in terms of the Point of Taxation Rules, 2011
Notification No. 19/2014-Service Tax dated 25th August, 2014
b) ST: The Negative list changes proposed which enhances the ambit of taxability will be effective from 01.10.2014. The same is notified on 25th August,2014
Notification No. 18/2014-Service Tax dated 25th August, 2014
c) Cenvat: it is necessary in the public interest to provide for certain measures including restrictions on a manufacturer, first stage and second stage dealer, provider of taxable service {Inserted) or an exporter, may by notification in the Official Gazette.
Notification - 25/2014-CX., (N.T.), Dated: August 25, 2014
d) Delhi VAT: -Analysing on the DVAT implications in regard to sale of medicines by hospitals to their patients while on treatment.
e) Haryana VAT:-The HVAT authorities recently on 25.7.2014 issued a circular relating to the modus of surety / bank guarantee required in cases of appeal being filed by the assessee dealers. The same is learnt to be pursued by the ETO’s / AA’s on a vigorous mode and may lead to high litigation cost considering the length of time before final decision of appellate authority comes.
f) ST, CE & Cenvat: -Two Key Alerts for 01.09.2014.
g) Customs: - New Guidelines for considering request for exemption from payment of Customs Duty under Section 25(2) of Customs Act, 1962. - Dated 19-8-2014
Circular No. 09/2014 –Customs dated 19.8.2014
--
Regards,
CA.Ankit Gulgulia (Jain)|B.COM(H), C.A, C.IFRS, C.B.V
Direct|+9811653975 |011-27356431|011-23642055|
Email| ankit@gravita.in
Indirect taxation |Litigation | Transfer Pricing | International Matters |
311, 3rd Floor, D-Mall, Netaji Subhash Place, Pitampura, New Delhi-110034
Website | www.charteredonline.in
| Please consider your environmental responsibility. Before printing this e-mail message, ask yourself whether you really need a hard copy. |
Disclaimer: - The above information/memo is purely for information purpose you should check other information sources before taking any action based on any of the content in this memo. Neither the authors nor website hosting the memo make any warranty as to the quality or currency of the information contained in any of the site's articles.
IMPORTANT: The contents of this email and any attachments are confidential. They are intended for the named recipient(s) only. If you have received this email by mistake, please notify the sender immediately and do not disclose the contents to anyone or make copies thereof.
__._,_.___
No comments:
Post a Comment