Home Highlights March 2012 Year 2012 This

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1. Rate of duty of excise increased from 10% to 12% and 1% to 2%

2. Profiteering - supply of “Samsung 80 CM (32 inches) HD ready LED TV 32FH4003” - If there was any increase in his costs the Respondent should have increased his prices...

3. Levy of tax on the royalties or fees for technical services - rate of tax under the DTAA - 12% or 10% - the substitution has the effect of deleting the old rule and...

4. Levy of service tax - supplementary invoice - cost escalation clause - to be taxed at 12% or at 10% - the taxable events in the present Appeal had admittedly occurred...

5. Classification of services - rate of GST - works contract service provided to Malabar Cancer Centre - are eligible for the concessional rate of tax of 12% - AAR

6. Increase in rates of service tax in respect of bank guarantee and insurance premium is directly relatable to the terms of the contract - SC

7. To amend notification No. 12/ 2017- Central Tax (Rate) so as to exempt certain services as recommended by GST Council in its 38th meeting held on 18.12.2019.

8. GST rates of various services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018.

9. Rates of Tax on Goods - Schedule 2 - IGST @ 12% - CGST @ 6% -SGST / UTGST @ 6% - Goods and Services Tax - Item wise schedule as amended

10. Levy of Surcharge and cess - to be computed over the rate of tax as per DTAA or not - Article 12 read with Article 2 of the tax treaty makes it clear that the rate of...