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Service tax- Expected ease for small service providers and suggestion for exemption of tax duty on large tax payers for ease of business and taxation – no purpose in first collect and then refund policy need a change to make business easy

Service Tax - By: - CA DEV KUMAR KOTHARI - Dated:- 10-2-2016 - News report: From news on some business news channels it was learnt that it is expected that the limit for exemption to small service providers is likely to be increased to ₹ 25 lak .....

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cable to service provider in case of reverse charge method. Therefore, for service receivers falling into reverse charge method, there is no exemption at all. Even if a company has paid directors fees of say ₹ 5000/- in a year, the company is l .....

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ervice providers and receivers: The expected exemption up to ₹ 25 lakh is a welcome step, and if it becomes reality it will make doing business easy for many service providers who are in nature of self-employed people. The exemption should also .....

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ed and then it is refunded or allowed credit against tax payable. The examples of TDS and refund of excess tax under income-tax Act, and charging of excise duty and service tax and then allowing credit by way of CENVAT credit are examples of such pol .....

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ax / duty payer who is found to have paid substantial amount of tax, even after availing CENVAT credit, can be exempted from levy of tax and duty on inputs and so there will be no CENVAT credit and tax/ duty payer will pay full amount of tax. For exa .....

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vices availed by it and then he will be required to pay ₹ 100 crore directly. This will obviate need of levy of service tax by large number of service providers., and also in case of reverse charge applicable, bank itself paying service tax on .....

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