CBEC released a FAQ on 14.11.2015 which clarified that Swachh Bharat Cess (SBC) shall not be available as CENVAT Credit and liability of same cannot be discharged by utilizing CENVAT Credit. Q.14 of FAQ dealing with the issue is reproduced as under:
Introduction:- The announcement of the exemption to the levy of Education Cess and SHE Cess levied on Excise duty with effect from 01.03.2015 and that levied on service tax with effect from 01.06.2015 created new hopes in the minds of the assessees a
As I have earlier written in my article that approx. 82763.58 crores has been collected through education cess only for Fin year 2014-15 (the data collected till 31st October).Refer to my earlier article- Click hereNow below I have collected the dat
Heavy pendency of service tax refund / rebate claims of exporters with service tax department raises a serious question on government�s promise of ease of doing business in India. Where on one side Indian Industry is facing huge demands in Inco
SWACHH BHARAT CESS-CLEANING INDIA OR CLEANING POCKETS!!An Article By:-CA PRADEEP JAINCA NEETU SUKHWANIPreface:- The moment when it was announced by the Hon�ble Finance Ministerthat the exemption is being provided to the levy of Education Cess a
Swachh Bharat is an initative which was driven by Prime Minister Narendra Modi to make India Clean. We really know how much clean our India is. India means not only the metros cities but also B & C class cities and most probably the villages, whi
To finance and promote Swachh Bharat initiatives, an enabling provision was incorporated in the Finance Act, 2015 (hereinafter referred as the Act) vide Chapter VI to empower the Central Government to impose a Swachh Bharat Cess (hereinafter referred
Last year's Budget (Finance Act 2015) contained provisions for levy and collection of SBC.Vide Notification No. 21/2015-Service Tax, government notified levy of SBC @ 0.5% as stated in Finance Act 2015 on all taxable services, except those servic
SWACHH BHARAT CESS 1. What is Swachh Bharat Cess (SBC)?SBC is tax in addition to Service Tax which shall be levied and collected in accordance with the provisions of Chapter VI of the Finance Act, 2015,cal
The Hon�ble Finance Minister Shri Arun Jaitley while presenting Union Budget for the year 2015-16 on 28th February, 2015 had introduced a new cess to be named as Swachh Bharat Cess to be levied and collected on taxable services. Unfortunately,
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