Tuesday, 15 July 2014

Budget 2014 - All Service Tax Amendments with notification.

The Hon'ble Finance Minister Mr. Arun Jaitley had placed an Union Budget 2014-15 on 10th July, 2014, while presenting Budget Finance Minister introduced the Finance (No.2) Bill-2014, In this Finance Bill-2014 Finance Minister amendments made in Chapter V of Service Tax. The services sector has been ensure to its stability and continuity. The Finance Minister further carry with some little changes which has been made in Service Tax by limited figers. These all changes in previous Service Tax a set of notifications are as under:

All New amended Notifications in service Tax after India Budget 2014

Notification No. 06/2014-Service Tax
Amendment in Notification No.25/2012-Service Tax - Mega exemption notification

Notification No. 07/2014-Service Tax
Amendment in Notification No.12/2013 - Exemption on services provided to SEZ authorised operations

Notification No. 08/2014-Service Tax
Amendment in Notification No. 26/2012 - Abatement rates

Notification No. 09/2014-Service Tax
Service Tax (Amendment) Rules, 2014

Notification No. 10/2014-Service Tax
Amendment in Notification No. 30/2012 - Notification under sub-section (2) of section 68 - Reverse Charge

Notification No. 11/2014-Service Tax
Service Tax (Determination of Value) Amendment Rules, 2014

Notification No. 12/2014-Service Tax
Prescribes rate of Interest for late payment of service tax - Section 75

Notification No. 13/2014-Service Tax
Point of Taxation (Amendment) Rules, 2014

Notification No. 14/2014-Service Tax
Place of Provision of Services (Amendment) Rules, 2014

Notification No. 15/2014-Service Tax
Resident private limited company specified as class of person for the purpose of Advance Ruling

Circular 178-4-2014-Service Tax

Increased Interest Rate on Late Deposit of Service Tax w.e.f. 01.10.2014

Extent of Delay
Simple Interest Rate per Annum
Up to 6 Months
18%
More than 6 months and upto 1 Year
18% for 1st Six Months and 24% for the period of delay beyond 6 months
More than 1 year
18% for 1st Six Months, 24% for 6 months and 30% for the period of Delay beyond one year.

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