Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Service Tax »
Open DEMAT Account in 24 hrs
 Income Tax SFT return filing due date extension: Facility to remain open for a couple of days Latest news
 Income tax filing: Waiting for your Form 16? Here is what you need to know
 Salaried? Rental tax calculation rules you should know before ITR filing in 2023
 What are new tax regime's slabs? Know its limits, benefits, and more
 How much additional tax do you need to pay? ITR filing last date for FY 2019-20
 Income Tax Return Filing: How to file ITR - step-by-step guide
 New Income Tax Slabs for Super Senior Citizens 2023-24: Which rate will apply for ITR now?
 Income Tax Return filing 2023 data: How many Indians aged 18-35 years file ITR?
 Make tax-saving a part of your overall investment plan
 Filing ITR? Maximize Your Tax Savings With These 7 Allowance Benefits
 Extension of time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act, 1961 ('Act') in view of the then-Covid-19 pandemic

Detailed manual scrutiny of service tax returns from August 1
July, 27th 2015

There will now be detailed manual scrutiny of service tax returns of assesses based on risk parameters by the Central Board of Excise and Customs (CBEC), under revised 2009 guidelines.

CBEC, the Finance Ministry said, has these revised guidelines, to come to effect from August 1, in view of the legal changes brought about by the Negative List based taxation of services and administrative changes like creation of separate Commissionerates for Audit.

As per a CBEC circular, the detailed return scrutiny would be conducted in respect of such assessees whose total tax paid for 2014-15 is below Rs 50 lakh.

However, the assessees who are subject to service tax audits would not be covered under the detailed scrutiny programme.

"In an era of self assessment of tax liability by the assessees, compliance verification assumes greater importance. Scrutiny is one of the three prongs of compliance verification, the other two being audit and anti evasion," the Ministry said.

Prior to the reorganisation of Commissionerates, all these three prongs were being handled by a single Commissionerate.

With the creation of separate Audit Commissionerates, the Executive Commissionerates will focus on scrutiny and anti evasion work.

"The selection of returns for detailed scrutiny would be on the basis of risk parameters which would be centrally generated. The scrutiny would be entirely done in the departmental premises, based on assessment related documents obtained from the assesses," the ministry said.

The selection of the asseessees for the purpose of manual scrutiny, the CBEC circular said, would be made under three bands -- where the Service Tax is paid up to Rs 10 lakh, Rs 10-25 lakh and Rs 25-50 lakh in 2014-15.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting