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GIST OF NEW NOTIFICATIONS ISSUED IN SERVICE TAX

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 3-6-2016 - Notification No. 27/2016-ST dated 26.05.2016 (Reverse Charge and KKC) Vide Notification No. 27/2016-ST dated 26.05.2016, it has been notified that w.e.f. 1.6.2016, wherever reverse charge mechanism is applicable in terms of Notification No. 30/2012-ST dated 20.06.2012, the same (reverse charge) shall be applicable mutatis mutandis for the purpose of Krishi Kalyan Cess. Notification No. 28/2016-ST dated 26.05.2016 (Abatements and KKC) Vi .....

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rpose of KKC shall be determined as per Service Tax (Determination of value) Rules, 2016. Notification No. 29/2016-ST dated 26.05.2016 (Rebate of KKC for Exports) Vide Notification No. 29/2016-ST dated 26.05.2016, it has been notified that w.e.f. 1.6.2016, rebate of duty or Service Tax used in providing taxable services which are exported, under Notification No. 39/2012-ST dated 20.06.2012 shall also be available to Krishi Kalyan Cess (KKC). Notification No. 30/2016-ST dated 26.05.2016 (Refund o .....

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tiplying total Service Tax distributed to it by sum of effective rates of SBC and KKC and dividing the product by rate of Service Tax as per section 66B of the Finance Act, 1994. Notification No. 31/2016-ST dated 26.05.2016 (KKC and Composite Rate of Service Tax) Vide Notification No. 31/2016-ST dated 26.05.2016, Rule 6 of Service Tax Rules, 1994 relating to payment of Service Tax has been amended w.e.f. 1.6.2016 to provide reference to rate of Service Tax as per section 66B in sub-rule 7D of Ru .....

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NT) dated 26.05.2016 (Cenvat Credit of KKC) Vide Notification No. 28/2016-CE (NT) dated 26.05.2016, w.e.f. 1.6.2016, Cenvat credit on KKC shall be allowed to service provider. However, Cenvat credit of any duty shall not be utilized for payment of KCC but Cenvat credit in respect of KKC shall be utilized only towards payment of KKC. Notification No. 29/2016-CE(NT) dated 31.05.2016 (Indirect Tax Dispute Resolution Scheme Rules, 2016) Vide Notification No. 29/2016-CE(NT) dated 31.05.2016, Central .....

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amount payable. Rule 4 Form of reporting deposits made by declarant under section 214(3) Rule 5 Form of Order under section 214(3) Form 1[Rule 3(1)] Form of Declaration under sub section (1) of section 214 of The Finance Act, 2016 in respect of Indirect Tax Dispute Resolution Scheme, 2016 Form 2 [Rule 2(4)] Form of acknowledgement under sub section (2) of section 214 of the Finance Act, 2016 in respect of Indirect Tax Dispute Resolution Scheme, 2016 Form 3 [Rule 4(2)] Form of reporting the payme .....

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