Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT Audit :: due date for vat payment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ACCOUNTING STANDARDS
« Service Tax »
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders
 Where to invest for saving more on taxes
 A simpler GST can become a registry of all invoices, says iSPIRT’s Sharad Sharma
  Income Tax department may defend CPC in returns fraud case
 One GST rate not possible, next reform after compliance improves,
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
  GST Network simplifies returns filing process

Budget 2013: Govt seeks to get tougher on service tax, customs violations
March, 04th 2013

Finance minister P Chidambaram has inserted at least half-a-dozen provisions in the Finance Bill to make certain offences related to customs and excise duty non-bailable, while providing for arrest for violation of service tax, raising fresh concerns over powers being vested with revenue authorities.

For instance, for offences related to service tax evasion - especially for non-payment of collected service tax - a commissioner rank officer can order arrest. So, if an airline or a restaurant collects service tax from customers but doesn't deposit it with the tax department, the service provider can be arrested in future.

Similarly, in case of customs duty there are at least four cases where the government has proposed to make offences non-bailable under section 135 of the Customs Act.

Duty evasion or even "attempted evasion" of over Rs 50 lakh has now been made non-bailable. Similarly, failure to properly disclose import or export of goods worth over Rs 1 crore will face the same treatment as will fraudulently claiming drawback or exemptions.

Duty evasion over Rs 50 lakh? No bail

In case of the Central Excise Act, the Finance Bill has proposed to amend the law to make duty evasion or improper availment of Cenvat credit of over Rs 50 lakh cognizable offence and also non-bailable. Cenvat credit refers to taking credits or seeking refunds for excise paid by a vendor of product.

"Section 91 (for service tax) is a retrograde step. The government is trying to squeeze service tax payers to increase collections by 45% to Rs 1.8 lakh crore," said Bishwajit Bhattacharya, a former additional solicitor general. He said the powers for prosecution had been removed from the statue several years ago and were now being brought back.

For the industry, the bigger fear is misuse of the provisions by junior officers. "The government will have to ensure that the powers are not used to harass taxpayers. But in general, it goes against the intent of ushering in a non-adversarial tax regime," added Pratik Jain, partner at consulting firm KPMG.

Over the years, when it came to economic offences the government had started shifting to a simpler regime but over the last two years the trend seems to be changing.

Even last year, Pranab Mukherjee's move to increase the powers with customs and excise officials had come in for criticism. As a result, the government dropped its plans to make certain violations of the customs and excise laws cognizable and non-bailable.


Service tax: New provision to arrest for non-payment of service tax

Excise duty

* Extend imprisonment term to 7 years, with fine, if leviable duty is over Rs 30 lakh

* If duty liability crosses Rs 50 lakh, govt plans to make the offence cognizable and non-bailable

Customs duty

* Evasion, attempted evasion of specified type made non-bailable if duty exceeds Rs 50 lakh

* Availing drawback or other exemptions of over Rs 50 fraudulent made non-bailable offence

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions