Finance Bill gets Presidential assent

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..... Finance Bill gets Presidential assent
By: - Surender Gupta
Service Tax
Dated:- 19-4-2006

Finance Bill gets Presidential assent on 18th evening but Bill gets gazetted on 19-4-2006, ther .....

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..... efore new rate of 12.24% (i.e. 12% + 0.24%) ofservice tax is effective from 19-4-2006. The other provisions which are coming into effect from 19-4-2006 are: - - Service tax on Services which are re .....

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..... ceived in India or Imported into India - New set of provisions of Valuation (However, Rules are to be notified) - Amendments in the provisions related to Adjudication of Show Cause Notice and Recove .....

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..... ry of Amount received in excess of service tax. - Provisions related to provisional attachment of property. - Change in the provision for penalty for failure to pay service tax in time. The followi .....

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..... ng provisions shall be effective only from the date of notification (not now) - - Change in the scope of existing services - Introduction of New Services - Deletion of Explanation to the section 65 .....

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..... (105) - import of services.
Scholarly articles for knowledge sharing by authors, experts, professionals .....

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