https://www.taxtmi.com/article/detailed?id=6505 Service tax reform introduced procedural simplifications and certainty measures: two day registration subject to verification, digital invoices and electronic records, defined point of taxation for reverse charge as payment date or three months from invoice, adjusted CENVAT credit rules (time limit introduced; reverse charge credit allowed without vendor payment), uniform 70% abatement for transport, standardized works contract valuation at 70% (40% for original works), and rationalised penalty provisions with concessions for prompt payment and specified record production. en-us Mon, 02 Nov 2015 07:45:28 +0530 Mon, 02 Nov 2015 07:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6505 Service tax reform introduced procedural simplifications and certainty measures: two day registration subject to verification, digital invoices and electronic records, defined point of taxation for reverse charge as payment date or three months from invoice, adjusted CENVAT credit rules (time limit introduced; reverse charge credit allowed without vendor payment), uniform 70% abatement for transport, standardized works contract valuation at 70% (40% for original works), and rationalised penalty provisions with concessions for prompt payment and specified record production. Articles Service Tax Mon, 02 Nov 2015 07:45:28 +0530 https://www.taxtmi.com/article/detailed?id=6505