Friday, 5 June 2015

Clarification regarding rate of service tax on restaurant service

CBEC has clarified and confirmed through circular (Circular no. 184/3/2015-ST dated 3rd June 2015) that w.e.f. 1st June, 2015 Service Tax in Restaurant Services will be 40% of 14% i.e. 5.6%. 

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GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court

In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...