TaxTMI 
TaxTMI 
Finance Bill gets Presidential assent
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....inance Bill gets Presidential assent<br>By: - Surender Gupta<br>Service Tax<br>Dated:- 19-4-2006<br><br>Finance Bill gets Presidential assent on 18th evening but Bill gets gazetted on 19-4-2006, there....
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....fore new rate of 12.24% (i.e. 12% + 0.24%) ofservice tax is effective from 19-4-2006. The other provisions which are coming into effect from 19-4-2006 are: - - Service tax on Services which are rec....
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....eived in India or Imported into India - New set of provisions of Valuation (However, Rules are to be notified) - Amendments in the provisions related to Adjudication of Show Cause Notice and Recover....
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....y of Amount received in excess of service tax. - Provisions related to provisional attachment of property. - Change in the provision for penalty for failure to pay service tax in time. The followin....
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....g provisions shall be effective only from the date of notification (not now) - - Change in the scope of existing services - Introduction of New Services - Deletion of Explanation to the section 65(....
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....105) - import of services.<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....