1. WHEREAS, SUB RULE (2) OF RULE 5 OF THE SERVICE TAX RULES 1994 STIPULATES THAT EVERY ASSESSE SHALL FURNISH TO THE SUPERINTENDENT OF CENTRAL EXCISE AT THE TIME OF FILLING OF RETURN FOR THE FIRST TIME OR THE 31 DAY OF JANUARY 2008 WHICHEVER IS LATER AS LIST IN DUPLICATE OF (I) ALL THE RECORDS PREPARED OR MAINTAINED BY THE ASSESSEE FOR ACCOUNTING OF TRANSACTIONS IN REGARD TO A SERVICE (C) RECEIPT PURCHASE MANUFCTURE STORAGE SALE OR DELIVERY AS THE CASE MAY BE IN REGARD OF INPUTS AND CAPITAL GOODS D OTHER ACTIVITES SUCH AS MANUFATURE AND SALE OF GOODS IF ANY ALL OTHER FINANCIAL RECORDS MAINTAINED BY HIM THE NORMAL COURSE OF BUSINESS.

2.THE ASSESSEE HAS NOT FILED THE ABOVE RECORDS WHICH WERE TO BE FILED AT THE TIME OF FILLING OF THE FIRST ST-3 RETURN FOR THE PERIOD APRIL -2013 TO SEPT-2014 UNDER FULE 5(2) IBID.

3. IN VIEW OF THE ABOVE IT APPEARS THAT THE ASSESSEE HAS CONTRAVENED THE PROVISIONS OF RULE 5(2) OF THE SERVICE TAX RULES 1994 IN AS MUCH AS THEY HAVE FAILED IN FAILED IN FILING OF THE REQUISITE FINANCIAL RECORDS MAINTAINED BY THEM FOR THE FIRST TIME FILING OF THE RETURN . THE ASSESSEE IS THEREFORE LIABLE FOR PENAL ACTION UNDER SUB SECTION (2) OF SECTION 77 OF THE FINANCE ACT 1994

And how is the calculate..?

The single consignment upto Rs.750/- is exempted and on consignment basis upto Rs.1500/- is exempted.
The service tax paid on under reverse charge on Freight Inwards on GTA is cenvatable, but the Service tax paid on Freight outwards is not cenvatable.
In case the GTA is individual or Firms than the service receiver need to pay tax on 30% of value of freight.

But my question is in case the material vendors is charging the freight in his invoice and we are paying than are we liable to pay tax on the freight included in purchase invoice.

If the freight bill is separately given than we are paying the tax.

Looking forward your reply.



Regards:
Brijesh Pandey
(9088263019)

whether servicing of vehicle by service station(individual) to a body corporate comes under work contract reverse charge?

there is a bill of servicing of vehicle in which he is claiming service tax @12.36% on labour charges.
now being a body corporate should we comes under work contract reverse charge and should we deduct half of service tax from his bill and pay to govt.

this is regarding a payment towards agreement for construction of flat with a builder. the builder is not asking for service tax on the payment value. could it be that the builder can come back later asking for service tax after registering the flat. Once registration is done, what hold will the builder have on the buyer for claiming the Service Tax and same is for VAT. I need help in understanding as to who is liable for Service tax and VAT ?

We are the Manufacturing unit and have a registration under both Excise & Service tax.

We receive a services from pvt. ltd. firm (Platinum management Solution Pvt. Ltd.) this firm charge the service tax 14% in his bill and we paid the whole amount.

Now the query is, Is the credit of this service tax which is paid by me is available for me or not as per RCM?

Thanks / Ranjeet Singh

Hi,
One of my client earn commission from Thailand on the basis of sale of product of that Thailand's company done by him in India.Whether it is taxable or not?
Pls reply with details

what should be journal entry in case of work contract reverse charge mechanism?

Party A raise invoice as
material 4300
vat 172
labour 4600
service tax 284.28
TOTAL 9356.28

Party B make payment to party A after deducting TDS@1% and Party B has to pay service tax (i.e. 50% in case of reverse charge) of Rs 284.28

Now What should be journal entry in books of PARTY B?

kindly explain rules of payment service tax receipt basis and without receipt basis.

X ltd Company Pay Audit Fees in Financial 2015-16 for financial year 2013-14 and also in Financial Year 2013-14 company made a provision for Audit fees Rs 280000 (inclusive Service Tax @12.36%)but it paid in F.Y.2015-16 so can company avail CENVAT Credit and if Yes than how the Accounting Entry will be Passed in books of company Please Explained in Detailed

Thanks in Advance

PLEASE TELL ME A ACCOUNTING ENTRIES FOR THE SAME