Just a moment...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
    6. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws---- ❯
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ---- ❯
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Circulars Service Tax
    How will the SBC be calculated for services under reverse charge mechanism?
    Circulars Service Tax
    Whether SBC is a ‘Cess’ on tax’ and we need to calculate SBC @ 0.50% on the amount of service ...
    Circulars Service Tax
    What would be effective rate of service tax and SBC post introduction of SBC?
    Circulars Service Tax
    Whether separate accounting code will be there for Swachh Bharat Cess
    Circulars Service Tax
    Whether SBC would be required to be mentioned separately in invoice?
    Circulars Service Tax
    How will the SBC be calculated?
    Circulars Service Tax
    Where will the money collected under SBC go?
    Circulars Service Tax
    Why has SBC been imposed?
    Circulars Service Tax
    Whether SBC would be leviable on exempted services and services in the negative list?
    Circulars Service Tax
    What is the date of implementation of SBC?
    Circulars Service Tax
    What is Swachh Bharat Cess (SBC)?
    Manuals Income Tax
    STEPS NEED TO BE TAKEN AFTER APPROVAL ADVANCE PRICING AGREEMENT(APA)?
    Manuals Income Tax
    What is the limit of PANCARD regarding payment to Life Insurance company ?
    Manuals Income Tax
    What is the basic monetary limit required for PANCARD for amount deposit in mutual fund and shares?
    Manuals Income Tax
    What is the basic limit for PANCARD for payment to foreign country?
    Manuals Income Tax
    Whether PANCARD is require for opening account in bank?
    Manuals Income Tax
    What is the limit of PANCARD for amount depositing in securities.?
    Manuals Income Tax
    Is PANCARD is required for time deposit exceed a time of ₹ 5 lakhs?
    Manuals Income Tax
    What is the Basic limit of PANCARD for sale purchase of immovable property?
    Manuals Income Tax
    Is Permission is Required For Filing Of Revised Return?
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Open Link
Notes
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
Circulars Service Tax
How will the SBC be calculated for services under reverse charge mechanism?
Show AI Summary
Swachh Bharat Cess reverse charge shifts liability to the service recipient, applying existing reverse charge notifications mutatis mutandis.
Swachh Bharat Cess for services under reverse charge is payable by the service recipient: Chapter V provisions apply to SBC, and government notification makes the existing service tax reverse charge notification applicable to SBC mutatis mutandis, so recipients compute and discharge SBC under the same reverse charge rules.
Circulars Service Tax
Whether SBC is a ‘Cess’ on tax’ and we need to calculate SBC @ 0.50% on the amount of service ...
Show AI Summary
Swachh Bharat Cess: not levied on service tax but imposed on the value of taxable services.
The Swachh Bharat Cess is not a cess on service tax but is imposed as a separate charge measured on the value of taxable services, rather than being calculated on the amount of service tax as was done for Education Cess and SHE Cess.
Circulars Service Tax
What would be effective rate of service tax and SBC post introduction of SBC?
Show AI Summary
Service tax plus Swachh Bharat Cess yields a combined rate after SBC introduction, affecting taxable services.
The operative tax burden on taxable services equals the prevailing service tax rate plus the Swachh Bharat Cess, expressed in the FAQ as an additive formula (for example, service tax rate plus 0.5% SBC) to determine the overall effective rate after SBC's introduction.
Circulars Service Tax
Whether separate accounting code will be there for Swachh Bharat Cess
Show AI Summary
Separate accounting code for Swachh Bharat Cess to be notified, creating distinct heads for collection, receipts, penalties and refunds.
Separate accounting codes for the Swachh Bharat Cess will be notified in consultation with the Principal Chief Controller of Accounts, establishing distinct minor head classifications to record cess Tax Collection, Other Receipts, Penalties and Deduct Refunds with corresponding numeric codes for government accounting.
Circulars Service Tax
Whether SBC would be required to be mentioned separately in invoice?
Show AI Summary
Swachh Bharat Cess must be shown separately on invoices and accounted for independently from service tax.
Swachh Bharat Cess (SBC) is levied independently of service tax and must be charged, collected and paid separately; it should appear as a distinct line item on invoices (may be shown after service tax), be accounted for separately in books of account, and remitted under a separate accounting code, with treatment similar to education cesses.
Circulars Service Tax
How will the SBC be calculated?
Show AI Summary
Swachh Bharat Cess calculation mirrors service tax and is levied on the identical taxable value.
The Swachh Bharat Cess is computed using the same methodology as service tax and is levied on the identical taxable value applied for service tax, with no separate valuation base or distinct computation formula for the Cess.
Circulars Service Tax
Where will the money collected under SBC go?
Show AI Summary
Proceeds of Swachh Bharat Cess credited to Consolidated Fund of India, usable after parliamentary appropriation for sanitation initiatives.
Proceeds of the Swachh Bharat Cess are to be credited to the Consolidated Fund of India, and after parliamentary appropriation the Central Government may utilise such sums for financing and promoting Swachh Bharat initiatives or for related purposes.
Circulars Service Tax
Why has SBC been imposed?
Show AI Summary
Swachh Bharat cess imposed to finance and promote sanitation initiatives, obliging service providers to collect and remit the levy.
Imposition of Swachh Bharat Cess is a statutory levy on taxable services to generate revenue expressly for financing and promoting Swachh Bharat initiatives and related purposes, creating an obligation on service providers to collect and remit the cess so funds are available for the designated sanitation objectives.
Circulars Service Tax
Whether SBC would be leviable on exempted services and services in the negative list?
Show AI Summary
Swachh Bharat Cess on exempted and negative list services is not leviable under the FAQ circular.
The circular clarifies that Swachh Bharat Cess is not leviable on services which are fully exempt from service tax and on services covered by the negative list, limiting the cess's chargeability to taxable services only.
Circulars Service Tax
What is the date of implementation of SBC?
Show AI Summary
Swachh Bharat Cess implementation date fixed as 15 November 2015 under notification appointing its commencement.
The Central Government appointed 15 November 2015 as the date on which provisions of the Swachh Bharat Cess come into effect, by notification No.21/2015 Service Tax dated 6 November 2015.
Circulars Service Tax
What is Swachh Bharat Cess (SBC)?
Show AI Summary
Swachh Bharat Cess applies as a service cess on taxable services, increasing service tax liability and compliance obligations.
Swachh Bharat Cess is a statutory cess levied as a service cess under Chapter VI of the Finance Act, 2015, imposed on all taxable services and collected in accordance with the Act's levy and collection provisions, thereby increasing service tax liability and requiring compliance with service tax accounting and remittance rules.
Manuals Income Tax
STEPS NEED TO BE TAKEN AFTER APPROVAL ADVANCE PRICING AGREEMENT(APA)?
Show AI Summary
Advance Pricing Agreement requires modified returns and extends reassessment deadlines for affected assessment years by tax authorities.
Entry into an Advance Pricing Agreement fixing the arm's length price requires the taxpayer to file a modified return for each affected assessment year within three months from the end of the month in which the APA is executed. If an assessment was already completed, the Assessing Officer must reassess under the APA and complete that reassessment within one year from the end of the financial year in which the modified return is filed. If the assessment was pending, the Assessing Officer may complete it within an extended timeframe permitted for APA-related assessments.
Manuals Income Tax
What is the limit of PANCARD regarding payment to Life Insurance company ?
Show AI Summary
PAN requirement for life insurance premium payments: quoting PAN mandatory when annual premiums meet statutory threshold.
A payer must quote PAN when annual payments of life insurance premium to an insurer aggregate to Rs. 50,000 or more, the aggregation determining whether the PAN quoting obligation is triggered as a compliance mechanism for identification and reporting of premium payments.
Manuals Income Tax
What is the basic monetary limit required for PANCARD for amount deposit in mutual fund and shares?
Show AI Summary
PAN requirement for mutual fund and share deposits triggers mandatory identification and reporting when payments reach the statutory threshold.
Quoting a Permanent Account Number (PAN) is mandatory for deposits into mutual funds and for share purchases when the payment amount is fifty thousand rupees or more, under the PAN provisions and implementing rules governing income-return and reporting obligations.
Manuals Income Tax
What is the basic limit for PANCARD for payment to foreign country?
Show AI Summary
PAN requirement for foreign travel payments: cash disbursements above prescribed limit require PAN for travel, tour, or currency purchases.
A PAN must be furnished where a single-instance cash payment connected with travel to a foreign country exceeds the prescribed cash threshold; this covers cash payments for fare, payments to travel agents or tour operators, payments to authorized persons under foreign exchange law, and purchases of foreign currency, while excluding travel to neighbouring countries and specified pilgrimage locations.
Manuals Income Tax
Whether PANCARD is require for opening account in bank?
Show AI Summary
Permanent Account Number requirement: PAN is mandatory for opening bank accounts under income tax rules with no monetary threshold.
Permanent Account Number (PAN) is mandatory for opening a bank account under the income tax statutory framework and implementing rules; the requirement applies generally and the source does not specify any monetary threshold limiting the obligation, reflecting PAN's function as an identification and compliance mechanism in return of income and assessment procedure contexts.
Manuals Income Tax
What is the limit of PANCARD for amount depositing in securities.?
Show AI Summary
PAN requirement for securities transactions mandates furnishing PAN for deposits exceeding prescribed threshold to enable identity verification.
A PAN furnishing requirement applies to sale and purchase of securities: where consideration in a securities transaction exceeds the statutory high-value threshold, the person transacting must furnish their Permanent Account Number to the counterparty, implementing identity verification and enabling tax reporting obligations under the income-tax rules.
Manuals Income Tax
Is PANCARD is required for time deposit exceed a time of ₹ 5 lakhs?
Show AI Summary
PAN requirement for time deposits: PAN must be furnished when a time deposit exceeds the prescribed regulatory threshold.
A PAN must be furnished when a depositor makes a time deposit with a bank, banking company, or banking institution that exceeds the prescribed monetary threshold; this imposes an identification and reporting obligation under the income tax PAN provisions and rules.
Manuals Income Tax
What is the Basic limit of PANCARD for sale purchase of immovable property?
Show AI Summary
PAN requirement for immovable property transactions: PAN must be furnished where property value meets the statutory threshold.
A Permanent Account Number (PAN) must be furnished for sale or purchase of immovable property when the transaction reaches the statutory value threshold, as part of PAN-related obligations in return of income and assessment procedure; this requirement applies to parties to the transaction to ensure tax documentation and compliance.
Manuals Income Tax
Is Permission is Required For Filing Of Revised Return?
Show AI Summary
Right to file revised return: no prior permission required and permission-application cannot substitute for revision.
No prior permission is required to file a revised return; the assessee has a right to submit a revised return. An application framed as seeking permission to revise the originally filed return cannot be treated as, or substitute for, a valid revised return, and therefore does not meet the statutory mechanism for revision.

TMI Notes

Back

All TMI Notes

Showing Results for :
Reset Filters
No Records Found

TMI Notes

Home › TMI Notes › Bill › News › Category › This
Back

All TMI Notes

whatsapp Join Channel
Showing Results for : Reset Filters
Bill

EXEMPTION FROM CENTRAL EXCISE DUTY ON VALUE OF BIOGAS/COMPRESSED BIOGAS (CBG) CONTAINED IN BLENDED COMPRESSED NATURAL GAS (CNG)

1 February, 2026

Contents
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

Print Options

Union Budget 2026-27 - Finance Bill, 2026

The value of Biogas/Compressed Biogas (CBG) and the appropriate Central Tax, State Tax, Union Territory Tax or Integrated Tax, as the case may be, paid on Biogas or CBG contained in blended CNG, is being excluded from the transaction value for the purpose of computation of central excise duty on such blended CNG. To this effect, notification No. 11/2017-Central Excise dated 30.06.2017 is being suitably amended vide notification No. 02/2026-Central Excise dated 01.02.2026. This change will come into effect from 02.02.2026. Notification No. 05/2023-Central Excise, dated 01.02.2023, vide which Central Excise duty was exempted only on the GST amount paid on biogas/CBG contained in such blended CNG is being rescinded with effect from 02.02.2026.

Full Text:

Union Budget 2026-27 - Finance Bill, 2026

Topics

Acts Income Tax
Next ➔