Service Tax - CG issues Abatement Notification for 12 Services

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance 
(Department of Revenue)

Notification No. 26/2012- Service Tax

New Delhi, the 20^th June, 2012

G.S.R….. (E). - In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said  Act), and in supersession of notification number 13/2012- Service Tax, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 211 (E), dated the 17^th March, 2012, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said   Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the amount charged by such service provider for providing the said taxable service, unless specified otherwise, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table, namely;-

Service Tax - Mega Exemption Notification issues by CG

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance
(Department of Revenue)

Notification No.  25/2012-Service Tax

New Delhi, the 20^th June, 2012

G.S.R……(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) and in supersession of notification number 12/2012- Service Tax, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 210 (E), dated the 17^th March, 2012, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the following taxable services from the whole of the service tax leviable thereon under section 66B of the said Act, namely:-

CG introduces Service Tax (Removal of Difficulty) Order, 2012.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance
(Department of Revenue)

ORDER

New Delhi, the 15^th June, 2012

NO.1/2012

            G.S.R.   (E). – Whereas difficulties have arisen in giving effect to the provisions of section 143 of the Finance Act, 2012 (23 of 2012), in so far as it relates to insertion of section 66B in Chapter V of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act);

FM rejects S&P Report that India could be the First BRIC Country to falter

       The Union Finance Minister Shri Pranab Mukherjee said that the Government is fully seized of the current situation and he is confident that there will be a turnaround in our growth prospects in the coming months. The Finance Minister Shri Mukherjee was reacting to the S&P recent report suggesting that India could be the first BRIC country to falter. The Finance Minister Shri Mukherjee said that this is not based on a fresh rating action. S&P had issued India's sovereign credit rating on April 25, 2012 reaffirming India's long-term sovereign credit rating at BBB(-). It had, however, revised India's outlook to negative from stable.

Gross Direct Tax Collection figures for April-May 2012-13 is up by 3.62% at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12

Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore as against Rs. 25,035 Crore in the same period in F.Y. 2011-12. Gross collection of Personal Income Tax was up by 10.02 percent and stood at Rs.27,884 Crore as against Rs.25,344 Crore in the same period in F.Y. 2011-12. Net Direct Tax collections, however, showed a significant increase by 172.64 percent during April-May of the F.Y. 2012-13 and stood at Rs.35,323 crore, up from Rs.12,956 crore in the same period in F.Y.2011-12. This upward surge in Net Collections was due to declined in refunds by (-) 54.85 % as compared to year ago period.

ICSI - Last date for payment of Annual Licentiate Subscription for 2012-13

Dear Licentiate,

We wish to inform you that the Annual Licentiate Subscription for the year 2012 -13 became due for payment w.e.f. 1^st April, 2012.  The last date for payment of fee is 30^th June, 2012.  You are requested to please remit Rs.1000/- by demand draft/local cheque at par in favour of `The Institute of Company Secretaries of India'  payable at New Delhi on or before 30.06.2012. 

Group to examine the applicability of service tax or otherwise on certificate courses, training courses, conferences/seminars and other programmes on paid basis conducted by ICAI and its various organs

Council Affairs/M-626/2012 15th June, 2012

ALL MEMBERS OF THE COUNCIL

Madam/Dear Sir,

The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group, comprising of the following members, to examine the applicability of service tax or otherwise on certificate courses, training courses, conferences/seminars and other programmes on paid basis conducted by ICAI and its various organs and come out with its recommendations:

ICAI - Certificate Course on Forex and Treasury Management

Dear Members,

This is to inform you that next batch of Certificate Course on Forex and Treasury Management at Mumbai Centre will be starting on 07th July, 2012.

Venue: Hotel Mirador, New Link Road, Chakala, Andheri (East), Mumbai.

ICAI - Status of Intervening Holidays during CA Examination.

Status of Intervening Holidays during CA Examination June 13, 2012

The Council of the Institute recently considered the issue regarding status of intervening holidays during CA Examinations and decided that the break in between examination days, though not holidays, be treated as period actually served under articles.

CBEC Clarifies the Procedure to be followed for import of Indian vessels and filing of Import General Manifest, Bill of Entry

Circular No. 16 /2012-Customs

F. No.450/79/2010-Cus.IV

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

*****

Room No.229 A, North Block

New Delhi, dated 13^th June, 2012

To,

All Chief Commissioners of Customs / Customs (Prev.).

All Chief Commissioners of Customs & Central Excise.

All Director Generals / Chief Departmental Representatives (CESTAT),

All Commissioners of Customs / Customs (Prev.). 

All Commissioners of Customs (Appeals). 

All Commissioners of Customs & Central Excise.

All Commissioners of Customs & Central Excise (Appeals).

                       

Sir / Madam,

           

Subject: Procedure followed for import of Indian vessels and filing of Import General Manifest, Bill of Entry – regarding.

          I am directed to invite your attention to the Board’s instruction issued vide F.No.450/79/2010-Cus.IV dated 23.09.2010 which state that the requirement for filing Import General Manifest (IGM) and Bill of Entry should be complied with even in cases, where goods are exempt from payment of any duty.  The jurisdictional Commissioners were also instructed to review the situation, and take appropriate action for past cases, including adjudication, if warranted, in case of non-fulfillment of aforesaid filing of documents.