Service tax amendments expand definitions, increase rate, revise penalties, recovery and transitional provisions, and update rulemaking authority. The Finance Bill, 2015 amends the service tax code to refine definitions in section 65B, increase the service tax rate, and modify the negative list and an anti-avoidance illustration. It broadens the Explanation to section 67 on consideration, enables recovery of self-assessed but unpaid tax without prior notice, replaces penalty provisions distinguishing ordinary defaults from fraudulent evasion with transitional arrangements, omits a specified section, redirects certain cases to a central excise provision, and updates rulemaking authority.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Service tax amendments expand definitions, increase rate, revise penalties, recovery and transitional provisions, and update rulemaking authority.
The Finance Bill, 2015 amends the service tax code to refine definitions in section 65B, increase the service tax rate, and modify the negative list and an anti-avoidance illustration. It broadens the Explanation to section 67 on consideration, enables recovery of self-assessed but unpaid tax without prior notice, replaces penalty provisions distinguishing ordinary defaults from fraudulent evasion with transitional arrangements, omits a specified section, redirects certain cases to a central excise provision, and updates rulemaking authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
