Taxplore

Category: ID.TAX

  • What are the consequences for not paying Service Tax?

    What are the consequences for not paying Service Tax?

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    Penalty for late filing of Service Tax Service tax are to be paid before due date in order to free from penalty, if, service tax is filed after the due date a penalty up to Rs 10,000 may be charged[sec. 77(2)] According to section 7C of Service Tax Rules, 1994 late fee is payable as…

  • SURAKSHIT-CBEC’s Information Security Newsletter

    SURAKSHIT-CBEC’s Information Security Newsletter

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    Central Board of Excise and Customs (CBEC) the custodian of the country’s central indirect tax data, launches “SURAKSHIT”, an information security newsletter. Surakshit is a bi-annual newsletter, published for the purpose of exchange of ideas and information related to the field of information security like emerging issues, security tips, interesting news snippets, etc… CBEC has…

  • Last date for filing ST-3, 31st August

    Last date for filing ST-3, 31st August

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     ST-3(Return under section 70 of the Finance Act, 1994) By an order (Order No: 03/2013) Central Board of Excise & Customs(CBEC) has extended due date for submission of ST-3 to 31st August, 2013(which was 25th April,2013) for the period from 1st October, 2012 to 31st March, 2013. The circumstances which gives rise to this extention…

  • Maruti SX4 and Corolla Altis to attract lower excise duty

    Maruti SX4 and Corolla Altis to attract lower excise duty

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    Central Board of Excise and Customs (CBEC) recently, by a circular clarified that Maruti SX4 and Corolla Altis are called and traded as sedans and they will not come under the category of SUVs(at 30 %) even, these comes under the prescribed specifications. Thus, Maruti SX4 and Corolla Altis will now attract 27 % excise…

  • Import duty on Sugar increased to 15 per cent

    Import duty on Sugar increased to 15 per cent

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    At last demand of Indian Sugar Mills Association(ISMA) and the National Federation of Cooperative Sugar Factories (NFCSF) for increasing demand duty has been met. Import duty on sugar to 15 % from 10 % will helps to reduce importing of sugar. Meeting was conducted in the presence of Finance Minister P. Chidambaram, Agriculture Minister Sharad…

  • Exchange rate on import and export

    Exchange rate on import and export

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    Central board of excise and customs notified exchange rate of foreign currency relating to imported and export goods.Australian Dollar,Bahrain Dinar,Canadian Dollar…