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
Latest Expert Exchange
Service Tax »
 12 ways to avoid paying more for bank services
 I-T return filing: Income Tax offices, Ayakar Seva Kendras to remain open from March 29-31
 Top 5 money matters you must settle before March 31 From income tax returns to LTCG,
 Steep fines for missing March 31 income tax deadline
 CBEC clears some air on refunds under GST, central excise, service tax laws
 3 key tax changes for senior citizens which will come into effect from April 1, 2018
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 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?

Manual scrutiny of Service Tax returns from August 1
July, 13th 2015

Seeking to strengthen compliance and verification, the CBEC has said that beginning August 1 it will start manual scrutiny of Service Tax returns of select assessees who have paid less than Rs 50 lakh of total tax during 2014-15.

"The focus of the detailed manual scrutiny of the returns (of Service Tax) of those assessees which are not being audited. The detailed return scrutiny would be conducted in respect of such assessees whose total tax paid for 2014-15 is below Rs 50 lakh," a CBEC circular said.

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

"Small taxpayers, who usually do not fall within the ambit of service tax audits, may now be covered under the detailed scrutiny programme. With this, CBEC aims to strengthen the compliance verification mechanism," tax consultancy firm Ernst&Young (EY) said.

The selection of the asseessees for the purpose of manual scrutiny, CBEC 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.

The Central Board of Excise Customs (CBEC) said that a two part system of return scrutiny was envisaged -- a preliminary scrutiny which would be online and a detailed manual scrutiny of select returns based on specified parameters.

The circular said that the purpose of the preliminary scrutiny of returns is to ensure that complete and correct information has been furnished and the taxes have been paid timely.

It would also help in identification of "non-filers and stop-filers".

The detailed manual scrutiny of Service Tax returns, CBEC said, would ensure correctness of the assessment made by the assessee.

The Scrutiny Officer is required to reconcile information furnished in various Service Tax and Income Tax return forms and any available third party information, EY said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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