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Key Procedural Changes in Service Tax and Excise

Budget - By: - SKP IDT - Dated:- 1-3-2016 - Numerous procedural changes regarding registration, payment and filing of returns have been proposed in Service Tax and Excise legislation through the Union Budget 2016-17. In line with increasing the Ease of Doing Business in India , the lawmakers have considerably simplified the compliance procedures to ensure that every hassle in way of business can be mitigated in due time. This article decodes some of the key procedural changes proposed through th .....

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annual returns Currently under Service tax legislation, there are only two half yearly returns required to be filed. Now as per the proposed changes under Budget 2016, Service tax assessee s above a certain threshold will also be required to file an Annual return in addition to their normal returns. This change shall come into effect from 1st April, 2016. Thus, there will be three returns to be filed by a notified service tax assessee as compared to two earlier. 2. Excise Simplification of regi .....

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