Home Highlights March 2012 Year 2012 This

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1. Rate of service tax increased from 10% to 12%

2. Hostel accommodation services provided for 10 months' duration are exempt under Serial Number 12 of Notification 12/2017-Central Tax (Rate), as per the Madras High Court...

3. The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

4. Seeks to increase the effective rate of Special Additional Excise Duty on Petrol and Diesel.

5. FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification

6. The GoI MoF amended Notification No. 77/2023 - Customs (N.T.) regarding All Industry Rates of Duty Drawback for Articles of Jewellery. Specifically, the amendment...

7. Rebate claim - effective rate of Central Excise duty was reduced from 10% to 8% - rebate is admissible of duty paid at effective rate of duty on 24-2-2009 i.e. @ 8% - CGOVT

8. Union Budget 2015 - Rate of Excise duty revised from 12.36% to 12.5% - Levy of education cess of 1% and 2% on duty of excise removed

9. Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

10. Rates of Tax on Goods - Schedule 2 - IGST @ 12% - CGST @ 6% -SGST / UTGST @ 6% - GST

11. Notification extends exemption condition for imports of Yellow Peas (HS 0713 10 10) to bill of lading issued until 31.12.2024. Imposes 20% export duty on Onions (HS 0703...

12. 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...

13. The GoI's MoF issued Notification No. 02/2025-Central Excise amending the previous excise duty rates for petrol and diesel. The amendment increases the duty to Rs. 13...

14. Adjustments in Excise Duty for Petroleum Crude: Notification No. 12/2024-Central Excise - The amendment specifically adjusts the excise duty rate for petroleum crude to...

15. Levy of customs duty on import of wheat - rate of duty increased from 20% to 30%