Tag: budget 2015

Service tax on reimbursement expenses : 7 imp points

The finance bill 2015 has made amendment in section 67 regarding service tax on reimbursement expenses. In this article, you can get detailed explanation about the implication of this amendment on service tax value and service tax liability. Service tax on reimbursement of expneses Р7 important points Р budget 2015 updated: I am receiving lots of queries about service tax value and taxability of service tax on my blog. Determination of service tax taxable value requires understanding of service tax valuation rule 67. Service tax valuation rules. What is out of pocket or reimbursement expenses? What is pure...

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When will new service tax rate 14% be applicable

After budget 2015 , the common question asked to me by various blog readers, when will new service tax rate 14% be applicable? That’s why I have written this post.The new rate will be applicable from 1st June, 2015. Applicability of new service tax rate 14% after budget 2015: I can understand worry of service tax payers about new service tax rate. Let me clear that new service tax rate will not be applicable from 1st April, 2015. When we read the amendment of section 66B, it reads as under, [su_quote]106. In section 66B of the 1994 Act, with...

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